Profile Software, an international financial solutions vendor, announced today that CNP Cyprus Insurance Holdings (CNP Cyprus) has selected the IMSplus solution to deploy, so as to effectively manage its assets and fund management requirements and achieve operational efficiency.
CNP Cyprus is one of the largest and strongest Insurance Groups in Cyprus and its subsidiaries, CNP Cyprialife Ltd offering Life, Health and Accident insurance business and CNP Asfalistiki Ltd offering General insurance business, are both leaders in their respective sectors. Key important factors for this success have been the constant use of modern technology, the wide network of Insurance Intermediaries and Agents all over Cyprus and the provision of integrated and innovative insurance products, which fully cover the insurance needs of every individual and business.
CNP Cyprus selected IMSplus due to its flexible, customisable and functionality-rich environment. The insurance investment management functionality inherent in the IMSplus platform has been widely recognised by the industry, based on the number and diversity of implementations. Following an international evaluation process, CNP Cyprus chose IMSplus to automate and streamline its investment management tasks from transactions to accounting entries and achieve risk efficient operations.
IMSplus for Insurance Investment Management provides comprehensive portfolio structure definitions and multi-level analysis features that will enable CNP Cyprus to easily monitor the invested financial assets, while complying with the policies set by the Group.
The system’s customisable reporting will support the respective demanding requirements and along with the specialised asset management tools and the wide support of financial metrics, will allow investment officers to perform comprehensive gain/loss and risk exposure analysis on the company’s investment products (including cash & term deposits, equities, bonds and mutual funds), while being able to provide instant cash flow projections. IMSplus, by automating reporting and data exports of the investment’s accounting entries, will reduce the manual tasks of internal accounting requirements.
CNP Cyprus’ selection emphasises the expertise Profile Software has in the insurance market, for delivering advanced and easy to use platforms in the demanding investment management domain.