Copenhagen, Denmark – 8th February 2017. TIA Technology executes expansion strategy by acquiring a key TIA implementation partner. This will improve TIA's services capabilities, strengthen customer relationships and enhance the company's position in an increasingly competitive and dynamic industry.
Executing TIA’s growth strategy
The acquisition of Assurator, a key TIA implementation partner with more than 10 years’ experience, enables TIA to accelerate the build of their in-house services organisation based on proven Assurator expertise. TIA CEO Christian Kromann explains, “Our strategy for TIA is to be the best at building, implementing and operating the TIA solution. For that we needed to strengthen our Services & Solutions organisation. We chose Assurator because of their proven and predictable approach to implementation, their solid application management capabilities, and their substantial insurance product-configuration experience.”
"The acquisition of Assurator is a milestone in TIA's growth strategy," says Vagn Sørensen, Chairman of TIA Technology. "Over the years, the global insurance market has undergone significant changes. This means that customers demand greater involvement from their software supplier, when their insurance software must be replaced, to prepare for new digital initiatives.”
"The acquisition of Assurator is a milestone in TIA's growth strategy. Over the years, the global insurance market has undergone significant changes. This means that customers demand greater involvement from their software supplier [...]”
Vagn Sørensen, Chairman of TIA Technology.
Delivering TIA value directly
Kromann has big plans for the TIA services organisation and what it will deliver to customers. “With 30 additional TIA experts on board, we will be able to run end-to-end implementations for our customers in Northern Europe. We will help our customers minimise their level of customisations through our best-practice guidance and tools. This will accelerate their implementation time, keep costs in control, and help them get the most value out of their TIA system over the short and long run.”
Getting closer to customers and partners
TIA has 20 years of insurance-business expertise and 54 customers globally, including the four they won in their core markets in the last six months alone. With the changing competitive landscape in the insurance industry and the rise of InsurTech, the Assurator acquisition is a major step towards strengthening TIA’s position. “By getting closer to our customers we are in a better position to deliver the TIA platform’s strengths and capabilities, maximising business value and enabling our customers’
digital transformation,” says Kromann.
“With 30 additional TIA experts [...] we will help our customers minimise their level of customisations through our best-practice guidance and tools. This will accelerate their implementation time, keep costs in control, and help them get the most value out of their TIA system over the short and long run.”
Christian Kromann, CEO of TIA Technology
The new TIA services organisation also plans to work closer with their global implementation partners to help ensure a lean and predictable implementation. “We share common goals with our partners: to offer the greatest value to insurers,” Kromann adds. “When working closer with our partners to enable a better, more optimal use of TIA, our customers will realise greater value from their TIA investment.”
About TIA Technology
Founded in Copenhagen, Denmark, TIA Technology provides an open, scalable, standard software platform to insurance companies around the world. With over 20 years of software and services experience and 54 customers globally, TIA has deep insight into insurance business processes. They deploy this expertise to help insurers develop differentiating products that engage their customers and support their business strategies and digital transformations. Offering the full scope of expert implementation, application management and hosting services, TIA also ensures their customers keep control of costs, achieve a faster time to market and gain more business value. www.tiatechnology.com
Founded in 2006, Assurator is specialised in TIA implementations for insurance companies. Assurator’s 30 experts help insurance companies with lowering risk and reducing implementation time, complexity and cost through the use of their own well-designed methodology, tools and prebuilt modules. Assurator’s experience and tools are the result of 10 years of TIA implementation projects in the Northern European insurance sector. www.assurator.dk