Munich Re successfully introduces new IT platform in international reinsurance business
In launching the IT platform Gloria (Global Reinsurance Application), Munich Re has further strengthened and improved the foundations of its international reinsurance business.
With the new platform, which replaces 17 legacy systems for electronic data management, Munich Re has achieved a number of objectives simultaneously. It standardises business processes and the handling of reinsurance business and improves the quality and efficiency of individual activities such as underwriting, claims management and accounting. By providing a uniform database, Gloria also speeds up the analysis, control and administration of all reinsurance business. And last but not least, the harmonisation of core business processes supports the Group's global risk management. "We will be able to process our information even more efficiently and to significantly streamline internal analytical processes", emphasises Dr. Torsten Jeworrek, the Board member responsible for the Gloria project. "Increased data transparency will help us obtain risk-adequate prices and conditions."
The core of the IT platform is SAP's standard reinsurance software "SAP Reinsurance Management", which was introduced with the support of the IT consulting and systems integration company msg systems ag of Munich. The IT consulting and service company Softlab played a major role in migrating data from legacy systems. Other partners included ESPRiT Consulting for project management and Siemens Business Services for data warehouse technology.
At present, "SAP Reinsurance Management" has been implemented at the Group's Munich headquarters and many directly connected Business Units in the International Organisation, e.g. Madrid, Paris and Santiago de Chile. The system is to be introduced at Munich Re America in Princeton and at its offices in the United States in early 2007.
signed Jeworrek signed Küppers
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