ERGO and IBM agree on life portfolio management partnership

ERGO will migrate the management of its book of six million traditional life insurance contracts to a new, state-of-the-art IT platform. The migration takes place in cooperation with IBM Deutschland GmbH. In the medium term, the new platform will be capable to offer the possibility of managing the contracts of other insurance companies. To build this business, ERGO and IBM have entered into a joint venture.

Clemens Muth, member of the Executive Board of ERGO Group AG responsible for life and health insurance: "We want to migrate our book of business to a modern IT platform. This new IT platform from ERGO and IBM will also provide the opportunity for professional management of traditional life books for third parties after implementation."

Markus Koerner, Solution & ISBD Leader for DACH, IBM Global Technology Services adds: "With our joint venture, we are creating an attractive offer for German life insurers who want to keep their holdings of classic life insurance policies in their own hands, but manage them efficiently."

By bundling their competencies, the two companies are creating the conditions for a powerful new offer on the market. Michael Fauser, CEO of ERGO Lebensversicherung AG and Victoria Lebensversicherung AG: "For such a complex and lengthy process as an IT migration, good cooperation is particularly important. IBM convinced us in our intensive selection process." Markus Koerner adds: "We are firmly convinced of the success of our cooperation. Not least because of this, in addition to the pure changeover we are also committed to the later operation of the platform for ERGO and other insurers.”