27/01/14 EFFISOFT leverages its international expansion strategy and announces great forecasts for 2014
The software provider had a prominent year both strategically and in terms of sales.
"We are delighted to wrap up 2013 with such great results on our different lines of business" says Pascal Stopnicki, co-founder of Effisoft "we have been very successful with the Solvaset software suite as nine clients trusted us to support them in their Solvency II compliance projects. Webrisk, our risk management information system, continues its development with four additional accounts in the UK. Finally, WebXL, our reinsurance software, with its latest version, provides us with solid growth guarantees, with significant international success already [...]".
A fast growing dynamic group in research and development
Effisoft initiated a number of large scale R&D projects on their three strategic lines of business. "In 2013, we delivered a major version of WebXL, which already has attracted 3 new accounts. In the meantime, we did not only improve the functionalities of Solvaset to adapt it to European Solvency II requirements, but we also brought important evolutions to our RMIS Webrisk" claims Marc Accos, Co-founder of Effisoft.
"R&D is a crucial basis of our development and success. We always listen to the market needs in order to maintain our position of a pioneering company within our market. As for 2014, we will shift our focus on the improvement of our Pillar 2 offering as well as Solvency II, particularly the ORSA. Also, regarding Webrisk, we will complete the new functionalities of geolocalisation, as well as implement a new portal interface intended for local correspondent."
« International development at the heart of our ambition »
Besides, the company, which already registered nearly half of its turnover outside France, expanded its international presence with the opening of two subsidiaries in Switzerland and USA. "These offices are two strategically placed developments in accordance with our growing ambitions in those markets, especially for our reinsurance software solutions" explains Julien Victor, Managing Director at Effisoft.
"The US market is the largest Insurance market in the World and naturally it is a major growth driver for Effisoft. Switzerland is a global hub of reinsurance with a significant concentration of reinsurers... We had to have a presence there, and today, we now possess the assets to enter the market."
"2014, a promising year"
Effisoft shows a great optimism for 2014, with excellent sales forecasts with several major contracts being finalized.
"We are pleased to start the year with well received products in France and abroad:
-WebXL, in its new version, has already attracted prestigious references in the USA, in Switzerland, and in South Africa for its functional coverage and its ergonomics.
-Webrisk remains a benchmark solution for risk management and insurance, with an impressive number of prospects worldwide;
-Solvaset software suite establishes itself in the very competitive Solvency 2 market with imminent deadlines regarding regulations, and insurers who notably speed up (accelerate) their IT projects" concludes Julien Victor.