Munich Re have announced the launch of a new IT platform called Gloria (Global Reinsurance Application). The new platform replaces 17 legacy systems for electronic data management.
“We will be able to process our information even more efficiently and to significantly streamline internal analytical processes”, emphasises Dr. Torsten Jeworrek, the board member responsible for the Gloria project. “Increased data transparency will help us obtain risk-adequate prices and conditions.”
The core of the IT platform is SAP's standard reinsurance software “SAP Reinsurance Management”, which was introduced with the support of the IT consulting and systems integration company msg systems ag of Munich.The IT consulting and service company Softlab played a major role in migrating data from legacy systems. Other partners included ESPRiT Consulting for project management and Siemens Business Services for data warehouse technology.
At present, “SAP Reinsurance Management” has been implemented at the group's Munich headquarters and many directly connected Business Units in the InternationalOrganisation, e.g. Madrid, Paris and Santiago de Chile. The system is to be introduced at Munich Re America in Princeton and at its offices in the United States inearly 2007.