- Solutions for portfolio management, the official reporting system, partner management and a system for the settlement of pension payments are being implemented
- A long-term maintenance agreement was signed.
Dortmund, Cologne, April 26, 2022 – In order to comprehensively modernize their application landscapes, the pension funds Pensionskasse der Caritas VVaG (PKC) and Kölner Pensionskasse VVaG i.L. (KPK) have opted for standard software from adesso insurance solutions' in|sure Ecosphere product family. PKC and KPK have also signed long-term maintenance agreements. The implementation project was launched on April 1, 2022 and is planned to run for almost two years. The aim is to keep the system landscape and the processes sustainable in the long run and to use additional strategic potentials for the new business models of the two German pension funds.
New business model for pension funds
Over the next few years, PKC and KPK will systematically restructure and reorganize their application landscapes to digitalize and modernize the way they do business. The pension funds are already cooperating by sharing costs and benefiting from synergies in system development. This means that pension funds do not necessarily have to develop their own solutions, especially for general regulatory issues, such as insurance supervisory requirements for IT, health insurance allowances for pensioners, and pension insurance association contributions.
As part of a new business model, they also intend to expand portfolio management as a service for other company pension schemes. In the pension fund market, this approach is an innovative and bold step toward meeting the increasing number of regulatory requirements and toward countering the increasingly challenging interest rate and investment environment by managing portfolios in a cost-efficient manner. To take advantage of the cost benefits of scaling standard software, the Cologne-based companies are relying on multi-client software from the in|sure Ecosphere: in|sure CollPhir for portfolio management, in|sure Partner for master data management, in|sure GovInterface for individual contract reporting, and in|sure PenPay for pension accounting.
"For the renewal of our application landscape, we have found a partner in adesso insurance solutions with the necessary technical and professional expertise in the occupational pension scheme environment which is capable of meeting our requirements as well as facing the resulting challenges," says Olaf Keese, Liquidator of the Cologne Pension Fund and Chairman of the Board of the Caritas Pension Fund.
"We're proud to be able to support PKC and KPK in the development of their new, sustainable business model with our software," says Dr. Michael Höhnerbach, Managing Director at adesso insurance solutions and adesso benefit solutions. "We are thus establishing ourselves even more strongly as a leading IT provider and consulting company in the occupational pension scheme market, which is strategic for us."