Health Care & Life Sciences

Fortis Insurance Belgium entrusts the management of its 40 billion euros of 
« financial assets under management » to
ParaSol of SCRUM

Fortis Insurance Belgium has been created on the 1st of July 2006 by the juridical merger of Fortis AG that distributed its products via brokers, and FB Insurances that worked via the Fortis banking agencies and the ‘Banque de la Poste’.

Both companies were already leader in their sector and the merger has made of Fortis Insurance Belgium the biggest insurance company in Belgium. One Belgian out of three is client at this new entity. »

The challenge

Fortis Insurance Belgium has over more than 40 billion euros of « financial assets under management » (figures at end 2006).

The importance of this amount has forced Fortis Insurance Belgium to diversify its investment strategy by expanding its range of financial assets. Indeed, in order to meet the requirements of the market, the financial instruments in which the assets are invested have become more complex and varied.

It is for the same reason that Fortis Insurance Belgium decided to integrate all the internal processes linked to these financial assets within one single IT system. So Fortis Insurance Belgium started looking for a new asset management tool, able to manage new financial instruments such as swaps and structured products as well as the back- and front office.

The solution : ParaSol

In order to find the solution meeting all its needs, Fortis Insurance Belgium had put forward the following criteria :

  1. • Flexibility of the software including in terms of evolution
  2. • Integration of both the back- and front-office management
  3. • High level of integrability and openness towards other systems (mainly accounting and information providers)
  4. • Software editor willing to commit itself within the context of a long term partnership

At the beginning of 2000, Fortis AG and FB Insurances had already selected ParaSol as being the best solution meeting all their requirements.

So when both companies merged in 2006, it was only natural that ParaSol became the software for the management of the financial assets of Fortis Insurance Belgium.

The result

The partnership with SCRUM has given complete satisfaction to Fortis Insurance Belgium … who still contributes to the enrichment of the range of financial instruments managed within ParaSol !