SOURCE: EFFISOFT

Effisoft

February 22, 2016 11:23 ET

Argentinian Oil Giant YPF Boosts Risk Management With Effisoft's Webrisk RMIS

YPF Standardizes Data and Simplifies Reporting With Webrisk

BUENOS AIRES, ARGENTINA and PARIS, FRANCE --(Marketwired - February 22, 2016) - YPF, Argentina's largest energy company, has gotten better control over its data and saved time since rolling out Effisoft's Webrisk RMIS software to manage its risk and insurance programs.

YPF chose Effisoft -- the Paris-based provider of insurance and risk management software -- two years ago to implement its RMIS (risk management information system) to help optimize the company's insurance and risk programs.

"Effisoft was highly praised by its customers, and we were referred by a fellow energy company, so we had high expectations," says YPF's risk and insurance manager. 

The company's main goal oil was to gather data for asset evaluation. First, a preliminary study was launched to examine the feasibility of the project. Key modules were then rolled out:

  • Asset evaluation of the master program (property, casualty, liability and transport insurance)
  • Prevention management (risk visits planning, recommendations monitoring)
  • Premium calculation

The asset-evaluation project that 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," says Pascal Stopnicki, CEO and co-founder of Effisoft.

Webrisk is now used throughout YPF by 100 employees along 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 gas stations," says the YPF risk and insurance manager.

YPF is Argentina's leading energy company and the largest in terms of revenue with US$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 gas stations nationwide.

About Effisoft:

Effisoft (www.effisoft.com) is an international group that has been delivering software solutions to the insurance and risk management industries for 25 years. Effisoft has more than 300 company clients worldwide, managed through its offices in Paris, London, Dallas and its worldwide partner network. Almost all French insurers are among Effisoft's clients, as well as many SMEs and major organizations listed on the CAC40, FTSE and NYSE.

About YPF:

YPF Sociedad Anónima (http://www.ypf.com/Paginas/Home.aspx) 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 US$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 on the NYSE and the Buenos Aires stock exchange.

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