Profit Software grows in Norway with EDB insurance platform deal

EDB, the leading Nordic IT group, has chosen to enhance its insurance platform with Profit Software’s web-based Profit Life&Pension solution. The move will allow EDB’s insurance customers to speed up their time to market for launching new services, while simultaneously reducing their cost base.

“The main benefit of this solution for our customers is that it significantly enhances the functionality of many services that EDB currently provides to the insurance sector. It also reduces the costs associated with legal compliance and reporting to financial authorities, as these standardized service features can now be reused and the costs of their provision shared among multiple clients,” said Magnus Thorburn, Director Core Platform, EDB. “This move is part of EDB’s core renewal strategy, which sees us offering packaged, web-based solutions to both the banking and insurance industries. Profit Life& Pension is exactly what we were looking for. The benchmarking tests we performed on the solution earlier this year showed it to be by far the most cost-effective, flexible and scalable package available on the market.”

“We are very excited about this opportunity to strengthen our presence in Norway with EDB,” said Profit Software President and CEO Harry Nyroos. “EDB’s stated ambition is to help its customers create value by cutting costs and finding new opportunities. Our Profit Life&Pension solution is entirely aligned with this thinking, and we have demonstrated to EDB just how rapidly this investment will realize its potential in terms of costs saved and additional revenue streams opened.”

Media Enquiries:
Profit Software
Andrew Flowers, Vice President, Marketing and Communications
+358 45 269 4422
andrew.flowers@profitsoftware.com

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.

About EDB
www.edb.com
EDB Business Partner is one of the leading IT groups in the Nordic region. The company offers solutions for the full range of business-critical IT services. EDB aims to be a close and attentive partner that leverages its deep industry knowledge and international capabilities to help its customers realise the full potential of IT. The company has local presence in 13 countries, 6,000 employees and annual turnover of around NOK 7.5 billion. EDB Business Partner is listed on the Oslo Stock Exchange.