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AXA Insurance Taps IBM to Leverage Growth Opportunity in Romania

Using its Smarter Computing approach, says it will help AXA through what the vendor describes as a massive four-year systems integration project designed to streamline risk management, consolidate data, and work to lower operational costs by automating several pieces of the insurance process.

AXA Insurance has engaged IBM Global Technology Services to provide systems integration and management services to support growth in Romania, building on the carrier's 2009 acquisition of Bucharest-based Omniasig Life Insurance. Through what IBM calls its Smarter Computing approach to IT, the vendor says it will help AXA through what the vendor describes as a massive four-year systems integration project designed to streamline risk management, consolidate data to provide the company with a single view of customers, and work to lower operational costs by automating several pieces of the insurance process.

"While more businesses and individuals in Romania recognize the importance of having insurance coverage, penetration rates still have a considerable way to go if they are to reach those of developed markets," comments Violeta Ciurel, president and CEO, AXA Insurance Romania. "AXA Insurance Romania wants to be part of that growth in Romania."

Also as part of the agreement, IBM will migrate Omniasig's client system to a centralized ERP SAP solution and standardize business-use rules across IT applications to enable workload optimization and integration. The moves are designed to create a more open, flexible, scalable, efficient, and secure system that provides AXA Insurance Romania with greater visibility into, and control over, insurance policies as well as help reduce internal investment costs.

"IBM introduced its Smarter Computing approach to IT last year as a way for organizations to realize greater efficiencies, improved reliability and better performance, all at a lower cost," said Bogdan Balaci, Country General Manager, IBM Romania. "Through this engagement, AXA Insurance benefits from IBM's expertise in creating a flexible and scalable IT infrastructure that will enable the company's aggressive growth initiatives in the Romanian market."

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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