Profit Software Ltd. Strengthens Its Presence in Poland

March 8, 2005

Helsinki (Finland), Warsaw (Poland)– Profit Software, a proven leader in modern insurance software solutions, has opened a regional sales and customer service office in Warsaw to support its insurance company clients in Poland.

Together with the company’s expansion into the Nordic and Baltic Countries, Profit Software has tapped into new growing markets within Europe. With this new positioning of resources in the Polish market, Profit Software is well placed to provide local support for the implementation of leading-edge insurance software solutions. Profit’s has already signed a partner agreement with the Polish technology and integration company Polsoft, a part of the ComputerLand Group.

"The Polish insurance market is very attractive and growing quickly. Insurance companies are seeking low-cost core software solutions that provide a high degree of flexibility for launching new products across multiple distribution channels while maintaining a sufficient level of vendor independence. Being able to provide the best, web-enabled sales tools is a high priority on management’s agenda. We have exactly the right offering to make all this happen", said Pekka Lemettinen, Executive Vice President of Marketing and Sales at Profit Software.

To further support operations in Poland, Andrzej Wolski has been appointed Country Manager for the newly established office. Mr. Wolski will take responsibility for Profit’s expanding operations in delivering modern insurance solutions for life and non-life insurance companies.

Profit’s solutions combine the latest thinking in insurance with modern software technology, providing a uniquely flexible environment for the design and creation of comprehensive life and general insurance portfolios. This opens up completely new possibilities for running an insurance business with a significantly lower cost base.

"We are looking forward to building strategic relationships with insurance companies and leading integrator partners to bring about robust growth for our insurance business clientele. The future of the industry clearly lies in modular and product based solutions. I am personally very excited about this opportunity and am happy to be a part of the leading, dynamic and hardworking organisation", states Andrzej Wolski.

About Profit

Profit Software, a proven leader in insurance software, is dedicated to developing and delivering platform based insurance solutions that enable life and non-life insurance companies to run their business more efficiently.

Profit’s Life&Pension and Property&Casualty product suites are based on a parameter-driven, modular platform core, which manages the entire policy lifecycle of all lines of insurance business. This enables Profit Software’s clients to achieve immediate cost savings and provides tools for quickly and profitably introducing new insurance and pensions products while meeting new consumer demands and regulatory requirements.

Profit Software, employing over 100 people, is a fast growing and financially solid company. Founded in 1992, Profit Software is privately held and headquartered in Helsinki with sales and support operations in Tallinn, Stockholm, and Warsaw. Profit Software’s products have been deployed for more that 40 clients in 7 countries. 

For more information on Profit Software, please visit www.profitsoftware.com

Contact Profit Software:

Pekka Lemettinen
Executive Vice President, Marketing and Sales
Tel. + 358 40 5035411

Andrzej Wolski
Country Manager
Tel. + 48 6930 55225