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

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

Finantix CIO Cockpit digitises and accelerates key Investment Office processes

Finantix, the leading global provider of trusted technology to the wealth management,... Read more »

Nimbla and Wiserfunding partner to protect UK SMEs from insolvency

With the number of UK SMEs in significant financial distress reaching over 500,000 due to COVID-19... Read more »

EIS Launches in the UK as Insurance Companies Look Beyond Protection to Deliver More Value to Consumers

EIS, a core and digital platform provider for insurers, today announces its entry to the UK market. The San Francisco-... Read more »

The New Getsafe – For a New Generation of Insurance Customers

Since its foundation in 2015, Getsafe has grown up a lot. Now the company has renewed its brand image and sharpened its vision. With a new logo, a new design and a new... Read more »

Getsafe launches digital accident insurance – First step towards life insurance

As of today, Getsafe offers its customers a digital accident insurance product. This marks an important step for the company towards life insurance and shows that even... Read more »

EIS and PwC launch Intelligent Insurance Ecosystem Initiative

EIS Group announced the launch of an intelligent digital insurance ecosystem initiative in collaboration with PwC. The new ecosystem will combine agility with insights to... Read more »

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