Effisoft, software provider for insurers, reinsurers and risk managers, achieve sales growth across all of its product lines in 2014.
10 years of continuous growth allows the company to independently drive development projects.
2014 financial results prove to be successful for French software provider, Effisoft, which announces a turnover exceeding 11 million euros. This is partly related to the success of its software suite Solvaset, dedicated to Solvency II regulation. With an implementation expected on 1st January 2016 and a preparatory exercise in 2014, this European regulation involves the entire insurance industry, including software providers. Solvency II generated fifteen RFP’s for Effisoft and resulted in the signature of ten new contracts, not only on pillar 3 (regulatory reporting) but also pillars 1 and 2 (actuarial calculations and internal audit).
« 2014 allowed us to ensure the robustness of our Solvaset offer since it has been successfully implemented (and already deployed) in various companies, whatever their size or activity» says Marc ACCOS, president and co-founder at Effisoft. « The fact that insurance companies, mutual insurance groups, pension funds or even bankinsurers have been able to satisfy their requirements in terms of regulatory reporting and XBRL translation with Assuretat for the financial exercise of September is extremely rewarding for our staff and encouraging for our several forthcoming implementation projects. »
The second promising activity for Effisoft in 2015 is reinsurance, with WebXL’s adaptation to individual life reinsurance business, and above all its sale to notable insurers in Belgium and France.
« These signatures reward our efforts last year in terms of R&D. WebXL reinsurance systems new version, which is more ergonomic, easily customisable and allows a rapid implementation, fosters our international development and we shortly expect the conclusion of opportunities in USA, Finland and several other countries» , explains Julien Victor, Managing Director at Effisoft.
Effisoft’s Insurance and Risk Management business line also shows great dynamism through several signatures in France and the UK and potential prospects in South America and the Middle East. Buyers range from business sectors such as national lottery to certification, energy, chemicals and telecommunications.
« At Amrae’s Meeting 2015 in Cannes, we had excellent news to unveil to Risk Managers that have been supporting us for years», declares Pascal Stopnicki, President and co-founder at Effisoft. «Indeed, we will shortly be able to make available to users new functionalities developed in partnership with some of our customers. Business Intelligence, natural risk management or geographic analysis amongst others will be added to new claim tools for local users. »
This multitude of major projects requires an increase in staff resourcing: the group, which has welcomed 23 new employees in 2014, announces a considerable recruitment plan in 2015 including fifteen current vacancies.
About EFFISOFT :
Effisoft is an international group that designs and develops software solutions for the insurance, reinsurance and risk management industries. The group is headquartered in Paris France and has offices in Dallas and London and serves the Asian & African markets through its affiliates in Singapore and Johannesburg. Effisoft has a customer base of over 300 companies in 5 continents, many of which are listed on the NYSE, FTSE and CAC40.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EFFISOFT via Globenewswire