Monument Insurance deploys the Invest|ProTM platform from Financial Risk Solutions

Monument Insurance deploys the Invest|ProTM platform from Financial Risk Solutions
02.09.2019 07:15 am

Monument Insurance deploys the Invest|ProTM platform from Financial Risk Solutions

Insurance
Financial Risk Solutions (FRS), award-winning provider of fund administration software to global life assurance and asset management companies, today announced Monument Re Limited (Monument), a major acquirer of life assurance books of business in Europe and the Channel Islands, is operating the Invest|Pro™ platform to manage the group’s investment administration of unit-linked funds and portfolio bonds.
 
The software was deployed in just four months, allowing Monument to realise the immediate benefits of automation and scalability as it rapidly adds diverse books of business, with recent acquisitions including Robein Leven N.V., Nordben Life and Pensions and Inora Life d.a.c. (subject to closing), as well as a portfolio of business from MetLife Europe d.a.c. and Alpha Insurance SA.
 
Eoin Parsons, Group Financial Controller at Monument said:
 
“Financial Risk Solutions were the obvious choice for Monument, both from a product perspective as well as their best-in-class reputation in the industry. Their expert project team got us up and running in record time and we are now well-positioned for growth without having to add a large amount of human resource.
 
With the Invest|ProTM platform we can rest knowing the daily unit prices are entirely consistent with the firm’s financial general ledger and our statutory financial reporting is fully automated.”
 
Frank Carr, Chief Marketing Officer, at FRS said:
 
“We are delighted to welcome such a well capitalised and acquisitive consolidator of life assurance companies across Europe onto the Invest|ProTM platform. Monument has embraced the full capabilities of the platform from the get-go, providing a world-leading example of the modern day life office. We are looking forward to a long and fruitful partnership.”
 
Monument uses the Invest|Pro™ platform for their investment administration of unit-linked funds and portfolio bonds including unit pricing, cash allocation and rebalancing, trade order management as well as Solvency II reporting.
 
This latest news follows a period of expansion for FRS. Having been recently acquired by Constellation Software Inc., a leading provider of software and services to public and private sector markets globally, the team announced its entry into the Australian market earlier this year.
 

Related News

VERMEG extends partnership with Santander as the global bank selects MEGARA as its post-trade processing system in Brazil

VERMEG, the banking and insurance software solutions specialist, announced that its state-of-the-art Securities and Custody solution “Megara” went live at Santander Securities... Read more »

Rising Theft Puts UK Households And Insurers On Alert

UK households and their insurers need to be on alert for rising levels of theft, according to the digital home insurer Policy Expert, whose analysis of claims and crime data... Read more »

kasko2go now cooperates with OKKO GROUP

The Swiss startup kasko2go has entered into a partnership with the Ukrainian OKKO GROUP, thereby reaching 4.5 million drivers. kasko2go's disruptive approach caused a sensation... Read more »

Quantifying Cyber: How Insurance Carriers are Meeting the Challenge of Covering an Ever-Changing Risk Landscape

With insurance companies facing an average of 113 targeted breaches a year, it can be argued that cybersecurity is one risk the insurance industry is not prepared for.... Read more »

Company directors at risk of being sued over poor preparations for a bad Brexit

Mactavish, the leading expert on commercial insurance placement and disputes, is warning company directors they face a growing risk of being sued by investors, suppliers and... Read more »

Insurwave onboards Xceptor to digitise speciality insurance

Insurwave, a joint venture between EY and Guardtime, has partnered with ... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel