Aktia Life choses Profit Life & Pension system

Press release
May 26, 2004

Aktia invests in the insurance business

Aktia Life, a subsidiary of Aktia Savings Bank plc, has signed an agreement with Profit Software concerning systems co-operation. This co-operation supports Aktia Life's business as part of Aktia's insurance business development.

- The new policy management and sales system not only enhances our current activities but also allows us to expand our business to new types of insurance, like term life insurance, indicates Kari Lähteenmäki, general manager of Aktia Life Ltd.

After signing of a contract, it’s time for handshakes: Aktia's deputy managing director Robert Sergelius (left) and Profit's president Harry Nyroos.

Co-operation offers new possibilities

According to Lähteenmäki, the co-operation agreement allows Aktia Life to utilise the most modern information technology and gain a competitive advantage over even the company’s larger competitors.

- We wanted a system that enables flexible product development and customer service by exploiting new service channels, says Lähteenmäki.

- Aktia Life's new policy management and sales system is based on Profit Software's newest generation of software products, says Harry Nyroos, general manager of Profit Software. Aktia's intention to develop its insurance products and processes also supports Profit’s development of software products for both the domestic and the international marketplace.

Aktia's deputy managing director Robert Sergelius (left, ) general manager of Aktia Life Kari Lähteenmäki and Profit Software's president Harry Nyroos.

Aktia Savings Bank plc

Profit Software Ltd

Additional information

Kari Lähteenmäki, General Manager, Aktia Life Ltd, tel. 010 247 7804, 050 566 8261

Harry Nyroos, General Manager, Profit Software Ltd, tel. 040 5030 812

Aktia Life Ltd has been part of Aktia Corporation since the beginning of the year. The company, earlier known as Robur Life Ltd, has been co-operating closely with Aktia's local offices since 1999. Aktia Life provides its clients with unit-linked savings and pension products allowing various types of investment in Aktia and Robur funds. At the end of the first quarter, Aktia Life had approximately 6000 policies, with a total of more than 60 million euros in savings.

Profit Software Ltd is the largest Finnish software solution provider serving the insurance industry, with experience working with more than 40 insurance companies in the Baltic area. Profit Software serves insurance providers and organisations in the financial sector by providing expert services and developing software products supporting their operations. Profit Software's success is based on expertise both with the insurance business and with technology, coupled with active product development. Profit Software's revenue for 2003 was approximately 6 million euros, and the company has around 100 employers, who are based in Finland and Estonia.