The Argentinian oil group YPF rolls out Effisoft’s software to manage its risk and insurance programs (data collection, risk mitigation, loss prevention, premium tracking and calculations).
YPF is Argentina’s leading energy company and the largest in terms of revenue with USD 17 billion. It combines the exploration and production of oil and natural gas together with the distribution of petroleum products. YPF employs more than 22,000 people and owns over 1,500 petrol stations nationwide.
YPF contracted Effisoft – The French provider for Insurance and Risk Management software – two years ago to implement its RMIS (Risk Management Information System) Webrisk, in order to help optimise the company’s insurance and risk programs. “Effisoft receives high praise from its customers and we were referred by a fellow company, so we had high expectations”, says the risk and insurance manager at YPF.
The main goal for the oil company was to gather data for asset evaluation. First a preliminary study was launched to examine the feasibility of the project. The rollout of key modules was then scheduled:
- Asset evaluation on the master programme (property, casualty, liability and transport insurance),
- Prevention management (risk visits planning, recommendations monitoring…)
- Premium calculation
The asset evaluation project which commenced in February 2015, was completed as planned by the end of the second quarter 2015. “Despite the tight deadline, our teams did their absolute best to achieve the project. YPF was able to complete its asset evaluation using Webrisk, thereby saving a considerable amount of time in comparison with previous fiscal years”, explains Pascal STOPNICKI, CEO and co-founder of Effisoft.
Webrisk is now used throughout YPF by a hundred employees together with a manager and a consulting engineer at the head office.
“Webrisk has helped us to standardize our data and simplify our reporting. Instead of using Excel files, we now have a unique and reliable database which is adapted to our needs. Given the success of this first project, we consider going a step further than the initial scope by including our fleet (over 5.000 vehicles) and our 1,500 petrol stations”, says the risk and insurance manager at YPF.
YPF Sociedad Anónima is the biggest Argentinian oil and natural gas company in the upstream and downstream sectors. The company recorded a significant growth in 2014 increasing its sales to USD 17 billion. It takes a leading role in developing unconventional resources. Since 2012 Argentinian state owns 51% of the company’s capital and the remaining 49% is held by private investors. YPF is listed at the NYSE and the Buenos Aires stock exchange.