German private insurers join IBM and TK to offer electronic health records to 17.5M clients on the IBM Cloud - Seite 3

With IBM Cloud, insurers can innovate to drive real business value by providing new services to policyholders that put them in control of their insurance policies.  

In April 2018 IBM announced that ERGO Group, one of the largest insurance groups in Europe owned by global market leader Munich Re, is using the IBM Insurance Platform to jointly develop a system to manage closed book policies of traditional German life business across the board. It plans to migrate 6M policies to this state-of-the-art platform, which offers a vertically integrated set of insurtech capabilities offered as-a-service on the IBM Cloud.

Closed book policies are those that are no longer on the market, but still administered by the insurer – and these policy types present challenges to insurers because they are often siloed in legacy systems which are expensive to maintain. Consolidating all policies onto one platform should deliver distinct cost savings and efficiencies to the insurer. The closed book life application will offer as-a-service pricing, IBM Cloud security and scalability, and connections to APIs from IBM and from third-party participants on the IBM Cloud for Financial Services.

For more information about IBM Cloud for Insurance, please visit: https://www-935.ibm.com/services/us/gbs/thoughtleadership/insurance.html

About IBM Cloud
With $17.7B in annual cloud revenue, IBM is the global leader in enterprise cloud with a platform designed to meet the evolving needs of business and society. Moving past productivity and cost improvements, the IBM Cloud is tuned for the AI and data demands that are driving true differentiation in today's enterprise. IBM's private, public and hybrid offerings provide the global scale businesses need to support innovation across industries.

For more information on IBM Cloud, visit: ibm.com/cloud 

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