This year, Münchener Verein Lebensversicherung a.G. initiated a project to set up a new inventory and service management system based on the PSLife software product. The model-based policy administration software for life insurers was developed by PSLife GmbH, a subsidiary of IT service provider adesso. PSLife GmbH and affiliated company PSLife Consulting GmbH are supporting Münchener Verein Lebensversicherung with the introduction and adaptation of the PSLife software solution.

The new inventory management system will cover the entire product range of Münchener Verein Lebensversicherung and replace the existing, internally developed system. PSLife is a state-of-the-art inventory management system based entirely on Java. The core application of PSLife is the flexible actuarial function with a Markow calculation module. This allows users to configure cashflows without needing to write any programming code. Products whose range of services could previously not be displayed using standard present value methods can now be presented. PSLife provides for shorter product release cycles and unique selling points for implementing new life insurance products.

The project was launched following a selection process comprising various established software solutions for managing life insurance policies in Germany, and PSLife came out on top. PSLife is a product of the adesso Group and was launched in 2011. PSLife is currently being used productively or implemented by six well-established insurance companies. PSLife can be acquired as a complete inventory management system or as a package of individual components and its configuration can be customised. In addition to the completed PSLife system for life insurers, which has already been sold to several customers, adesso is currently developing other segment solutions and will position itself as a provider of state-of-the art and innovative core products for the entire insurance industry once these are complete. All products of the cross-segment in|SURE product suite have a standard platform and apply common, standardised functions. The basic solution and the segment solutions are designed as modular, releasable standard software systems.
 

About Münchener Verein Lebensversicherung

Münchener Verein Lebensversicherung a.G. is a part of the Münchener Verein insurance group. The origins of the group go back to the cooperative concept of creating an economic self-help institution for trade and commerce. It began with the establishment of the Münchener Verein Krankenversicherung a.G. as the insurance company of the Bayerische Gewerbebund in 1922. Today the mutual insurance group is active in health insurance, life insurance and general insurance. It recently ranked first place in the "Deutsche Servicepreis 2015" and was nominated as insurer of the year by the Deutsche Institut für Servicequalität (DISQ) in 2015.

About PSLife und PSLife Consulting

PSLife GmbH is a fully owned subsidiary of adesso AG based in Cologne. The company offers services relating to the PSLife solution, a policy management system for life insurers. PSLife GmbH can deliver the solution as a complete package or provide individual components separately. The affiliated company PSLife Consulting GmbH provides assistance in customised adaptation, integration and further development.
 

Contact:
Martin Möllmann
Manager Investor Relations
Tel.: +49 231 7000-7000
E-Mail: ir@adesso.de