European Company NOVIS Chooses IBM Cloud to Expand Its Insurance Business Globally

IBM Global CloudNOVIS, a growing European insurance company, has adopted IBM Cloud to help accelerate its international expansion, streamline business processes, while “gaining efficiencies with innovation in a secure IT environment.” NOVIS Insurance Company Inc., a company headquartered in Bratislava, Slovakia, runs its IT systems on IBM Cloud in all branches across ten European countries.

Currently, NOVIS operates its insurance business in Austria, Germany, Slovakia, Czech Republic, Hungary, Poland, and Finland. In 2017, the company expanded its operations into Italy, while at the beginning of 2018 it was launching branches in Sweden and Iceland.

NOVIS Insurance Company is focused on delivering “innovative” services to its clients. Its concept would include more than 25 “innovative” insurance offerings previously unavailable on the market. These insurance products include new forms of savings, wide insurance coverage, new ways of using capital, expanded flexibility, and liquidity.

With plans to further expand its insurance services offering to other countries with the aim of providing these services worldwide, NOVIS needed a “highly reliable, flexible and secured” cloud infrastructure to grow with its business. It, therefore, decided to move fully into IBM Cloud with VMware virtualization – all consumed As-a-Service.

Insurance Market

“For us as an innovative insurance company, cloud computing offers the potential for significant improvements,” said Siegfried Fatzi, general manager of NOVIS Insurance Company. “It helps us transform and optimize operations, improve governance and transparency, and expand business agility and capability. At the same time, we wanted to run our enterprise systems in a cloud environment with no increase of the cost if our cloud consumption is constant and unmodified. When we compared the performance of our enterprise systems on cloud services from several providers, the IBM Cloud came out on top,”

This announcement builds on IBM’s recent announcement that German private insurers have joined IBM and one of the country’s largest statutory health insurers – to offer electronic health records to 17.5 million clients on the IBM Cloud. IBM is not only offering its secured cloud platform to the global insurance industry. Its services also include Analytics, Artificial Intelligence (AI) and Blockchain, to name a few, which would cater to the requirements of insurers worldwide.

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