Global insurer and reinsurer SCOR has selected Credence Analytics’ iDEAL Funds platform to automate its investment management solution.
Credence is a global software solution provider that boasts a reputable client base across Asia, the Middle East and African markets, and has announced a new agreement with re/insurer SCOR’s Indian operations.
SCOR received R3 approval from the Insurance Regulatory and Development Authority of India (IRDAI) in late 2016 to establish a local Indian branch, to conduct P&C and life reinsurance business.
Credence’s iDEAL Funds operates as a multi-currency integrated funds management solution, which aims to automate the complete investment management operations of financial institutions, such as insurance and reinsurance companies, mutual funds, and fund houses.
Chief Marketing and Sales Officer for Credence, Akash Anand, commented; “I am happy to see that despite our already high penetration in the Indian market, we continue to attract new clients in the region.
“The agreement SCOR, A Tier 1 Global Reinsurance Company is a testament to the fact that the continued investment into our products and services makes us attractive to many types of investment companies including Insurance Investment Management. It is a pleasure to welcome SCOR to the Credence community.”