News & Events

Nexum IT runs for EUREKA and Eurostars Programme

May 30, 2012

To improve the competitiveness parameters of the company’s product by establishing a new insurance system and offering innovative resources that would successfully differentiate the products of the company from the products of its competitors, Nexum Insurance Technologies plans to participate in EUREKA and Eurostars Programme.

The main project task is to develop a new insurance system which includes ten years of experience in the area of insurance and which serves as a logical extension of its existing products. The objective of the new system is execution speed and flexibility while operating at high capacities and mobile application support.

EUREKA is more than an organisation, it is an ambition: to become the leading platform for R&D-performing entrepreneurs in Europe and beyond. EUREKA R&D is industry-led, applied, close-to-market — with tangible results and visible benefits. Founded in 1985, to challenge the increasing migration of R&D and industrial innovation to Asian and North-American countries, EUREKA now unites 39 member countries and also counts the European Union as its 40th member. Together, they promote international, market-oriented research and innovation through the support they offer to small and medium-sized enterprises, large industry, universities and research institutes. Through EUREKA, organisations are introducing new products, processes and services to market, helping make Europe economically strong and socially sound.

Eurostars Programme is a European Joint Programme dedicated to the R&D performing SMEs, and co-funded by the European Communities and 33 EUREKA member countries.

Eurostars aims to stimulate these SMEs to lead international collaborative research and innovation projects by easing access to support and funding. It is fine-tuned to focus on the needs of SMEs, and specifically targets the development of new products, processes and services and the access to transnational and international markets.

For more information please contact:

Didzis Klavins
Nexum IT, Business Development Manager in Scandinavia
email: didzis.klavins@nexum-it.com

Nexum hosts workshop in Norway

May 28, 2012

On 1 December, Nexum Insurance Technologies (IT) together with the Latvian Embassy in Norway and the Latvian Investment and Development Agency (LIAA) organised a workshop for insurance companies “Internet Distribution Channel for Insurance Companies: Innovation and Challenges”. The high-level business meeting was held at the Latvian Embassy in Norway.

The business workshop focused on key issues and challenges in managing Internet distribution channel to set up a successful model to profit maximization. The main emphasis of the meeting was on the Internet distribution channel for insurance companies in Norway and the case studies of other countries.

This seminar was attended by several largest insurance companies in Norway and the Baltic States such as Gjensidige, Terra-Gruppen AS, Jernbanepersonalets Bank og Forsikring, KLP Skadeforsikring, Storebrand, Saga Forsikring AS, E-Direct SAAS, as well as Finansportalen and UK Trade & Investment – British Embassy. After a welcome address by Ms. Dina Grube, Head of LIAA in Norway, three key speakers highlighted the role of Internet: “Distribution through the Internet and the growing need for multi-channel interaction” by Mr. Erlend Weiby, Internet Manager at Gjensidige, Norway; „Insurance over the Internet: beyond the obvious” by Mr. Tomas Sinicki, Managing Director at Nexum IT Lithuania; “What is my fair price” by Mr. Jon Erland Madsen, Senior Adviser, Web Coordinator Insurances at Finansportalen, Norway.

During the seminar participants addressed the proliferation of technology-based systems, especially those related to the Internet, which are leading to profound changes in how insurance companies interact with customers. Nowadays, as discussed in the seminar, companies are rushing to become more customer oriented. A key component of many successful initiatives is the right model of the distribution channels. In Norway, for instance, more and more insurers are using Internet distribution channel as they continue to balance the needs of different groups of consumers against the cost of distributing their products and services.

For more information please contact:

Didzis Klavins
Nexum IT, Business Development Manager in Scandinavia
email: didzis.klavins@nexum-it.com

Business seminar in Stockholm

May 28, 2012

Business seminar in Stockholm

On 14 April, Nexum Insurance Technologies together with the Embassy of Latvia in Sweden, Latvian Investment and Development Agency and Blue Bridge Technologies organized a business meeting for insurance companies in Sweden: “How modern technology can help to improve the efficiency of insurance business? Opportunities and case studies”. The seminar was held at the Embassy of Latvia in Stockholm.

The business meeting addressed the main issues and challenges in managing the Internet distribution channel, product and risk management, claim processing to set up a successful model for profit maximization. The main focus of the meeting was on the modern Internet based technologies available to insurance companies in Sweden and the case studies of successful applications in other countries.

After the welcome address by H.E. Ms. Maija Manika, Ambassador Extraordinary and Plenipotentiary and presentation from Ms. Austra Kreslina (Head of LIAA), several keynote speakers addressed the aforementioned issues:

  • Mr. Markus Norling, Proposition Manager, Personal lines Sweden, Trygg-Hansa
    How Internet sales in insurance has the potential to transform a whole industry with price aggregators as an example. What are the general trends and challenges in Internet sales of insurance?
  • Mr. Mikael Johansson, Chief of Webstrategy and Sales at Moderna Försäkringar
    Online marketing ties together creative and technical aspects of the Internet, including design, development, advertising, and sale. This is many times a key success factor in order to become a big player on the Internet. Many insurance companies still have online Marketing divided into different business areas with present and future negative consequence as results. How shall one think in order to be successful on the Internet?
  • Mr. Tomas Sinicki, Nexum Insurance Technologies
    In Sweden, for instance, more and more insurers are using Internet distribution channel as they continue to balance the needs of different groups of consumers against the cost of distributing their products and services. The main question is whether insurance companies reach their customers in the most profitable and cost effective way. Moreover, what are the main opportunities and challenges in dealing with Internet distribution channel?
  • Mr. Andrejs Strods, CEO at Blue Bridge Technologies
    Business Benefits of Electronic Claim Processing in Private Health Insurance. Topics: How switching to electronic claim processing is helping insurance companies save costs and improve relationships with clients and business partners. How technology enabled insurance products are helping to grow the business without growing costs. How modern lightweight technologies and flexible business models make adoption of new solutions easy and affordable as never before.
  • Mr. Christer A. Holm, Partner and Lawyer, Advokatfirman NorelidHolm KB
    What are the latest issues in Swedish insurance industry and technology innovations from a legal viewpoint? An overview of the Swedish/Scandinavian insurance-market from a risk-perspective and how it has been affected by the financial crisis such as D&O-claims and related risks (e.g. class-action – claims).
  • Mr. Jacob Kramer, Market Specialist, Property and Casualty, Länsförsäkringar AB
    What is the best role of Internet in your distribution strategy and how do you evaluate the efficiency of Internet as a distribution channel? Challenges and opportunities – a case study of Länsförsäkringar.
  • Mr. Carl-Magnus Löfström, Digital Strategist, AFA Försäkring
    How to facilitate claims over the Internet when the customers do not know that they already are insured. The main emphasis of the presentation will be on working with social media to drive traffic for collectively bargained insurances.

The business seminar was attended by several largest insurance companies and organizations in Sweden such as Länsförsäkringar AB, If, Moderna Försäkringar, Euro Accident, SalusAnsvar, Tre Kronor Försäkring, Folksam, Swedbank, Trygg-Hansa, AFA Försäkring, SI Consulting, Hannover Life Re Sweden and IDG Sverige.

For more information please contact:

Didzis Klavins
Nexum IT, Business Development Manager in Scandinavia
email: didzis.klavins@nexum-it.com