Profit Software recognized by three different industry analysts during 2009
Profit Software was
very much in the industry analyst spotlight in 2009, featuring in research reports
from Forrester, Gartner and Celent.
“We’re very pleased to
have been recognized by what we consider to be the three most important analyst
firms in our industry,” said Profit Software vice president of communications
and marketing, Andrew Flowers, who also takes care of analyst relations for the company. “Each
of these reports highlights our clear leadership of the Northern European
insurance technology market, as well as picks up on the strengths of our
modern, web-based system and our growing SaaS concept. We aim to feature
even more strongly during 2010, as our refreshed management team and recent
injection of capital from CapMan give us a significant boost in bringing
our product to the broader international market.”
Forrester
In June, Forrester senior
analyst Ellen Carney
named Profit Software as a company to follow in her report Hot
Insurance Tech Companies To Watch In 2009: Q2 Update.
"Profit Software has built an insurance platform that has been deployed in more than 40 clients in a relatively small insurance market," writes Carney. "Profit Software recognized that by offering modular insurance software components that can be flexibly deployed in one of four different options, it could help its carrier customers tick off more business technology to-do items while reducing budget objections from IT and the business..."
"This market-building process paysoff when it comes time to expand, because the vendor already has credibility, references, and a reputation that it can bring into an adjacent market," says Carney, citing Profit Software's approach.
Gartner
Later in the year, Gartner principal research
analyst Juergen
Weiss also featured Profit Software in a research note about the European
life-policy administration market.
“Profit’s strength is local championship and we
expect them to continue to remain focused on the life and pensions industry in
the Nordic/Baltic region,” said Weiss. “(Profit
Software is) one of the few European vendors that are more aggressively
pursuing SaaS opportunities.”
Celent
In September, Celent senior analyst Nicolas Michellod published
a profile on Profit Software in his comprehensive report European Policy Administration Systems
2009: Life and Pension ABCD Vendor View.
“Profit considers the following the main
differentiators of its platform: industry standard solution, high parameterization and
modern technology,” writes Michellod. “With its Profit Life&Pension
solution, Profit Software targets unit linked, pure risk, corporate pension,
group life and group risk companies. Profit Software marquee clients include
AXA Poland, OP-Pohjola and Mandatum Life.”
About Profit
Software
Profit Software
offers a suite of web-based software products that allow insurers, banks
and financing companies to create and provide life, pension, property and
casualty insurance services, as well as long-term savings agreements. Since the
foundation of Profit Software in 1992 we have served more than 40 clients in
nine countries. Today, we lead the market for insurance software solutions in
Finland and the Baltic States, and have a growing network of customers in
Norway, Sweden and Central & Eastern Europe. Our headquarters are in
Helsinki, Finland, and we have subsidiaries in Tallinn, Estonia, and Warsaw,
Poland. Profit Software employs approximately 120 people.
Media Enquiries:
Andrew Flowers, Vice President, Marketing and Communications
+358 45 269 4422
andrew.flowers@profitsoftware.com
