| ORANTA Insurance is leading the way with IDIT Software Suite | | Date: 28/10/2010
 Oranta is in progress of developing an innovative IT infrastructure with chosen supplier IDIT Technologies. The first of its kind in Russia, this comprehensive IT system is just one part of the modernization strategy and substantial investment Eureko Group is placing into their Russian subsidiary Oranta. The drive for modernization and need for ‘quick-to-business solutions’ led Oranta to select IDIT who specialize in providing IT infrastructures for the Insurance sector. This investment will assist Oranta in re-engineering business processes, allowing regional offices to concentrate solely on servicing customers, whilst the back office procedures will be centralized.
Reinhard Stary, CEO, ORANTA Insurance commented: ”This is just one part of our strategy to modernize the Oranta business and deliver International levels of customer services. With IDIT we have found an end-to-end IT solution which really fortifies our ability to respond to market, allowing us to centralize our back-office operations and present us with significant cost benefits for our future development and growth. Modernizing any business is a challenge but it is a necessity in order to build the platform to become a significant player in the market.”
The integration of the system will be divided into several successive stages and will begin with the implementation of the MOD portfolio by July 2011 which will be applied across the Shared Service Center, Moscow Center of Expertise, and pilot branches. Full implementation will be finalized by Q1 2012.
Ruud Gruson, Program Manager at Eureko B.V. commented: “Eureko has extensive experience of working with IDIT Software Suite and after analyzing the needs of Oranta and the Russian market, it was an obvious partnership selection for the business. We are impressed with IDIT’s wide ranging experience in the insurance sector and their ability to respond to our needs”.
Yoel Amir, CEO, IDIT Technologies added: “We are proud of being selected by Oranta Russia. We are committed to this partnership and are looking forward to continue providing the Eureko Group of companies the best insurance technology solutions that will provide them with significant competitive advantages”.
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About Oranta:
Insurance company ORANTA (LLC IC " Oranta ") was founded in 1995. Since December 2008, the company is a part of one of Europe's largest financial and insurance group Eureko (Netherlands).
"ORANTA" has operations in more than 19 types of insurance, and reinsurance. Regional network of companies includes more than 90 points of sales in the largest cities of Russia. Stable reputation and a high degree of reliability of the Company was confirmed by Russian rating agency Expert RA which assigned the company rating is Class "A" (high reliability).
According to "Expert RA", "ORANTA" is included in Top25 largest Russian insurance companies.
About EUREKO:
Eureko is a privately-owned financial services group whose core business is insurance. Eureko has built a portfolio of strong European businesses with excellent brands. From its strong base in the Netherlands, Eureko employs almost 23,000 people (FTEs) in 10 countries. Total assets exceed €95 billion. For more information visit the Eureko website: www.eureko.com.
About IDIT:
IDIT I.D.I. Technologies Ltd. (www.idit-technologies.com) is a global provider of enterprise software solutions for the insurance & financial markets. Our solutions are based on IDIT™ Software Suite – an enterprise software product which integrates the business capabilities essential for any insurance provider.
Founded in 1998, IDIT I.D.I. Technologies is a member of the Formula Vision group (TASE: FVT) and employs over 165 insurance and IT experts across Europe, APAC and Israel. Its clients include Groupama, Eureko, Oranta, Interamerican, MMA, Whittington Direct Asia, PolisDirect, IAK, Vanbreda, RAC Insurance and Direct Insurance Financial Services among others. The company also has a number of strategic partnerships with leading systems integrators and consulting firms such as IBM, HP, PwC, JMR, BSB, Ibexi and others.
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Except for historical information contained herein, The matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the company's accounting policies and other risk factors.
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