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Two European digital insurance leaders partner to usher in the future of insurance
enowa digital consultants and TIA Technology, providers of core insurance software, will deliver best-of-breed digital solutions and ‘invisible insurance’ to customers across Germany.
Copenhagen, Denmark – 17 May 2018. Today, leading digital consultancy enowa and TIA Technology, based in Copenhagen, announce a strategic partnership. Both companies will invest in strengthening TIA’s position, broadening its presence and distributing TIA’s digital solutions across Germany. enowa will implement TIA’s leading core insurance solution and develop custom software and core additions to shared customers. The joint value proposition includes world-class digital solutions and services along with decades of industry expertise to help strategically guide insurance customers into an extremely competitive digital future.
Enhancing enowa’s offering
Focused on extending its services and software components offering, enowa chose to partner with TIA because of TIA’s flexible, open-core insurance platform, its substantial investment in R&D and several recent strategic acquisitions.
"The insurance industry is changing very rapidly, and we were looking for a core technology partner that is taking the same steps toward embracing the future that we are. TIA’s insurance platform enables endless possibilities for integration to new, competitive technologies – and the company is investing heavily in self-service and data analytics solutions. That shows me we are two companies on the same path."
- enowa Partner Hans-Peter Holl
Expanding TIA’s footprint
In 2017, TIA’s investment in R&D as a percentage of license revenue was 48%. TIA had a strong financial year across the board, including increased revenue by 51%, and is expanding its footprint globally. TIA CEO Christian Kromann says, “In the last 18 months we’ve won 12 new customers across 5 markets and opened two new international offices. We want to continue this expansion and one of our focus regions is Germany where we see a strong need for our standardized solutions. Because of its deep insurance expertise and strength in the region, enowa is obviously the right partner to help us attract and serve new customers in the most professional, value-driven way.”
A shared vision
In addition to delivering best-of-breed digital insurance solutions, the two companies also aim to become leaders in “invisible insurance.” Holl explains, “’Invisible insurance’ is when your belongings, from your car to your refrigerator, can source the right insurance solution for you at any time, through your smartphone and a direct connection to a worldwide risk carrier. This is where the future of insurance is going and TIA’s core system, with its open architecture and REST services, will be the enabler. Our consultants look forward to creating these leading-edge solutions for customers and to building on our strategic partnership with TIA.”