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MMA, MAAF and GMF gathered in Covea group chose WebXL to consolidate its reinsurance repositories within a unique platform.

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As part of the implementation of a global reinsurance management system, Covéa (MAAF, MMA and GMF) chose WebXL to consolidate its different databases.
MAAF, MMA and GMF are 3 historical customers of Effisoft. After acquiring WebXL respectively in 1998, 2005 and 2008, it’s in 2011 that the three companies decided to unite their projects. Thus, following the creation of the unique reinsurance cession department they group decided to acquire a global system.
After this operation, Covéa wanted to consolidate the repositories of its different units within a single platform. Effisoft's project consisted in analyzing the processes implemented in each unit and consolidating them in a one and unique plateform.

After a preliminary study in 2011, they go live took place in October 2012, within the defined deadlines, although some adjustments had to be carried out in terms of converging processes and particularly in preparation for Solvency II. Afterwards, production of accounts from the centralized platform was possible. Today WebXL counts 50 users.
Despite the complexity related to management differences between the 3 entities, the project has been successfully carried out in less than 12 months" says Julien Victor, managing director of Effisoft. "The outstanding result has been reached especially thanks to the different actors involved, internal and external to Covea that have shown a great expertise and real implication".

Indeed, internally, the project management team has supervised and driven every step of the deployment process, while IT teams tackled the implementation of the technical architecture. These teams closely collaborated with external teams, Effisoft bringing the functional expertise and development capabilities while project management tasks where coordinated with consulting firm KPMG.
"After a year of implementation that involved Covéa project management, reinsurance users pour their business knowledge, IT department and Effisoft consultants for their functional and technical expertise of the sotware, Covéa now benefits from group reinsurance management software. This crucial step in the steamlining process will eventually allow standardizing and rationalizing accounting and consolidation reinsurance processes while respecting the reinsurance needs of each of the group's companies, thus contributing to the achievement of Fast Close objectives set by the Solvency II regulation. Finally Covea Reinsurance Direction will be able to rely on WebXL for a better internal control of the group reinsurance activities ", explains Mathieu Razafi, project manager at KPMG.

This project is triggered by Solvency II regulatory requirements, and Covéa is now equipped with a centralized reinsurance IS.
"This is a trend that we observed amongst several WebXL clients" Julien confirms. "Reinsurance consists by definition, in ceding risks, allowing provisons level reduction. Moreover, the automation of reinsurance operations approach leads to reduction in closing period delays, which is essential given the quaterly periodicity imposed by Solvency II. Finally, WebXL allows the genaration of pillar 3 reinsurance regulatory reports, while respecting traceability and data auditability required by the regulator".

About Covéa:
Covéa is number 1 for property and liability insurance in France and served over 11 million policyholders, generating 15.5 billion Euros in premiums in 2013. The group has 26.000 employees worlwide.