TIA article in leading Danish newspaper

When Danes open the business section of today’s issue of Berlinske, a leading Danish newspaper, they will read an article that tells the world that TIA is ready to win big in Europe. A shortened, English version of the article follows:

When Danes open the business section of today’s issue of Berlinske, a leading Danish newspaper, they will read an article that tells the world that TIA is ready to win big in Europe. A shortened, English version of the article follows:

TIA Technology ready to surf the second wave

The software that TIA Technology has developed and grown with is ready to be rolled out further. The first wave was Scandinavia – now the rest of Europe is in TIA’s sights.

by Nikolai Steensgaard, Berlinske

“We will grow more, and we believe there is great potential in our system. Reaching to Asia and the like is a dream right now but it does not change the fact that we are a presence in Europe"
Liselotte Munk 

The core of many insurance companies around the world is their IT systems. These systems keep track of everything from insurance policies and claims to invoices and customer inquiries. This core system is exactly what Danish-based TIA Technology does well, and now TIA is ready to bet on growth in Europe.

After a few years in a market that was characterized by financial the fall of 2008 and the subsequent unrest and cautious behavior, the company's chief executive, Liselotte Munk, now sees signs of improvement. And she intends to use it, as she describes, to ride the 'second wave'.

“We will grow more, and we believe there is great potential in our system. Reaching to Asia and the like is a dream right now but it does not change the fact that we are a presence in Europe. One can say that our first wave of growth was about Scandinavia – the second is about moving even more broadly out into Europe,” says Liselotte Munk.

One reason for the company’s great promise may be that the original idea was very good. The TIA Technology Solution was conceived with an international focus – and therefore was, from the beginning, designed to be expanded to handle such issues as different currencies and regulatory considerations. And this is something that makes sense in today's globalized world.

Liselotte Munk thinks that TIA Technology is a platform that can be modified for different countries and business needs – and that is attractive for both small and large insurance companies.

“We have large, international customers like Zurich and Codan and we also have Landbruksforsikring in Norway with 10-12 employees. I believe that we cater to all insurance companies – both small and large,” she says, adding: “Furthermore, it is a clear advantage for us that we have this basic architecture that can support different countries’ needs. Systems built with a national-only mentality, is the wrong way to go,” she says.

Liselotte Munk points out, however, that one cannot simply conclude that TIA Technology's solution is now finished evolving. “The market is moving well and we have quite a few competitors, so we must continually invest in keeping the solution up-to-speed, both technologically and functionally. There is always something new happening and we need to keep supporting the market.”

In Liselotte Munk’s view, one of the advantages for TIA Technology from the beginning is that the Danish insurance world is very advanced when it comes to efficiency. Denmark has simply been a forerunner in the comprehensive computerization of the industry and the world looks here to find inspiration.

“We have a high efficiency. We have been creative in how we handle customers. This has driven costs significantly down here in Denmark,” says Liselotte Munk.

Link to the full Berlinske article by Nikolai Steensgaard in Danish: http://www.business.dk/vaekst/tia-technology-klar-til-at-surfe-paa-den-anden-boelge

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