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SimCorp strengthens insurance drive with new Director of Consulting Services in North America

SimCorp, a leading provider of investment management solutions and services to the global financial services industry, today announces the appointment of insurance specialist, Scott Ferrante, as Director of Consulting Services within SimCorp’s North American delivery practice. Bringing a wealth of insurance investment accounting and operations experience spanning over 25 years, Scott Ferrante’s appointment will build on SimCorp’s long standing success in serving the global insurance industry. The new position signifies SimCorp’s continued investment into insurance asset management solutions, amid the growing adoption of multi-asset, front-to-back solutions, and follows a series of recent North American insurance wins at SimCorp.

An industry stalwart, Scott Ferrante’s arrival marks SimCorp’s continued expansion into the global insurance industry. His role will be instrumental in this drive, with a key focus on the North American insurance market. SimCorp has seen significant adoption in the region over the last 18 months, with the growth of alternatives and increasing reporting pressures, accelerating the need for multi-asset, front-to-back investment operations.

Backed by over two decades of industry experience, Scott Ferrante has specialized in portfolio and investment accounting, regulatory & corporate compliance, financial and statutory reporting. He previously oversaw the introduction and implementation of SAP’s investment accounting solution, used by 160 insurance companies worldwide, to the North American insurance market. He has served in a number of roles, including Chief Operating Officer at Princeton Financial and his expert knowledge and hands-on expertise has also helped several leading global firms optimize their insurance solutions.

Delivering consolidated investment operations to over 40 insurance firms worldwide, including MEAG, Aegon and Swiss Life Asset Managers, SimCorp has invested significant research, development and human capital over the years to support insurance firms with robust front-to-back investment operations and multi-asset accounting functionality. SimCorp Dimension’s integrated regulatory reporting for Solvency II, NAIC and CECL, has also proven particularly attractive for insurance firms, looking to reduce cost and complexity by consolidating operations and reporting, across asset classes, in one system.

James Corrigan, Executive Vice President and Managing Director of SimCorp America comments: “I’m pleased to welcome Scott Ferrante on board. Scott’s impressive and extensive global insurance experience will steer the implementation of SimCorp Dimension across insurance investment management clients in North America. More importantly, the appointment strategically positions SimCorp as an industry leader of solutions for the insurance market and advances our commitment to insurance clients. Going forward, we aim to invest in both Scott’s knowledge and the development of our solutions to intuitively serve the needs of this market.”

Scott Ferrante, Director of Consulting Services, SimCorp comments: “It is with great pleasure that I join SimCorp. SimCorp’s dedication to serving the global insurance market, with a comprehensive investment platform that efficiently addresses market and regulatory challenges, is evidenced by its growing client community of insurance firms. I look forward to enriching the North American practice with my insurance investment accounting and operations expertise, and at the same time learning from some of the great minds that work at SimCorp.”