Part
01
of one
Part
01
What software is used to trade insurances electronically in France?
Hi! Thanks for asking Wonder to find what software is used to trade insurance electronically in France.
The short answer is I have found 10 software platforms that French brokers use to trade: Prima Solutions, Tinqin, Kapia, Sapiens, Linedata, Cegedim, FIS, Infoelsa and Accenture.
Below you will find a deep dive into my findings.
Prima Solutions services UK, France and German P&C insurance providers to manage their policy and claims management lifecycles. Their application for trading insurance is appropriate for brokers, insurance bankers, insurance companies and provident fund institutions. The software supports the trading of multiple types of insurance products and is a complete front and back office platform.
Based on Sofia, but also heavily present in the French market, Tinqin actually helps insurance companies develop their own in-house software for trading. I have included them as they count some major insurance companies among their clients: Aviva, Thelem, Groupama, Lalux and more. Their base product, the Tinqin Design Studio, is a solution to configure and maintain an insurance portfolio. They offer support to P&C, health, risk and life insurance companies.
Kapia are also a popular insurance software company in France. Like Tinqin, they take their core product and then work with companies to develop that software specifically for their needs. They offer business applications for brokers, insurers, mutual funds and fund managers. Kapia are located in Paris.
Used by financial services and insurance companies all over Europe, Sapiens Solutions Software gives solutions for brokers, insurers and MGAs of P&C, life, pension and reinsurance segments. It is a core software suite to offer end-to-end processing. A sample French client is CNP Assurance.
In 2014, Linedata signed an agreement with Aréas Assurances, a large network of independent general insurance agents in France. Linedata will now manage over €2 billion in assets for the group. Linedata's software can manage the offerings for medium to enterprise-size companies, covering all segments of the personal insurance market. BNP Paribas Assurance is also a major customer.
Cegedim is one of France's leading providers of software for insurance companies. While they focus on the health insurance sector, Cegedim provide total company solutions, supporting insurance companies across France. Its Actisure solution gives support to full insurers, managing agents, TPAs and BPO suppliers.
I realize FIS were on the list for Italian providers, but as one of the biggest financial software solutions providers in the world, they also need inclusion on this list for France. FIS's software allows companies to develop their products, while still managing risk and capital. It also manages customers, providing end-to-end support as a core product.
Infoelsa are also a French company, founded in 1989 to give solutions for insurance and financial services. Some of their French customers are Allianz and Diot. Their CIRISelsa software handles the lifecycle of an insurance policy for P&C and life. It covers the functional areas of commercial, individuals, product, contract, claims, accounting, coinsurance/reinsurance, organization and management.
Accenture is the software provider to the second biggest insurer in France, Generali France. Accenture's solution manages the policy management process, allowing for greater automation. Clients can choose full end-to-end support or smaller components to integrate with another core product. They also offer a P&C product called Duck Creek, but it is unknown whether this product of Accenture is widely used in France or not.
CONCLUSION
To wrap up, I have found ten providers for trading insurance electronically in France. They are Prima Solutions, Tinqin, Kapia, Sapiens, Linedata, Cegedim, FIS, Infoelsa and Accenture.
I hope this is helpful. Please feel free to ask Wonder if you have any more questions!