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Effisoft consolidates its presence in Belgium by signing Credendo Group

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Credendo Group insures companies and banks against political and commercial risks in international trade relations.

In order to accompany and support the business's growth in credit reinsurance underwriting, which has been significantly increasing over the past few years, Credendo Group has been searching for a complete centralized information system that can answer daily management needs.

« When we decided to acquire a new reinsurance information system, it was very important to us that the software guarantees information reliability and traceability of all operations: underwriting, monitoring of commitments, technical and financial accounting... » explains Paul BALTHASART, head of reinsurance at Credendo Group.

« We have chosed WebXL, not only because we were seduced by the amount of complex functionalities covered by the system, but also for the quality of the intermediaries who have worked with us. Effisoft positions itself as the real expert in reinsurance. This is the reason why, in partnership with Effisoft, we have decided to develop a module for analysis and monitoring group exposures per debtor, per geographic area and per reinsurance contract. This exposures monitoring then feeds into the group's centralized exposures monitoring tool which includes the direct underwritten of risks » says Paul BALTHASART, head of reinsurance at Credendo Group.

The division of the project has allowed Credendo Group to deploy WebXL within a short lead time, allowing the quick replacement of the current systems and the completion of the data migration. New specifications are currently under development; these will interface WebXL with Credendo Group's other information systems.

« We are pleased to have Credendo Group among our clients, and to reinforce our presence in the Belgian market. This customization project on reinsured exposures monitoring was a particularly interesting challenge for us and it reinforces our skills and knowledge in the reinsurance sector, both credit and deposits» says Julien Victor, associate director at Effisoft.