SOURCE: Effisoft USA

Effisoft USA

February 15, 2017 11:59 ET

Effisoft's Sales of Reinsurance, Risk Management and Solvency Products Grew by 6 Percent in 2016; U.S. Sales Triple

PARIS, FRANCE and MIAMI, FL--(Marketwired - February 15, 2017) - Effisoft's worldwide revenues reached EUR13.6 million ($14.6 million) in 2016, up 6 percent from 2015, as demand for Effisoft's reinsurance, risk management and Solvency II software and services continued to grow.

Effisoft's WebXL software continued to be a highly sought-after solution for ceded and assumed reinsurance in Europe, Asia, Africa and North America.

U.S. sales of WebXL tripled in 2016, said Gregory Moliner, Effisoft USA's chief executive officer. Effisoft USA, the American subsidiary, moved to Miami and named Moliner CEO in 2016. "These great results were achieved thanks to a proven product that satisfies the requirements of the U.S market," he said.

Effisoft's Webrisk software is a leading RMIS internationally. In 2016, the number of Webrisk RMIS users increased by 12 percent in Europe. Extensive development was completed in 2016, enhancing and enabling new Webrisk functionalities such as country-by-country reporting (CbCR), business intelligence, and a new interface to address the challenges of digitization. The new version of Webrisk was unveiled during the Rencontres AMRAE 2017 in Deauville, France, in February.

Solvaset, the solution that orchestrates everything insurers need to do to comply with the three pillars of the European Union's Solvency II Directive, continued to attract strong interest. In 2016, more than 130 sets of mandatory Solvency II reports were delivered on time to the French Insurance Authority (ACPR). In 2017, Solvaset has been selected by a dozen key players to generate national-specific templates (Solvency 2 NST).

"We are proud of the results obtained by all of our teams," said Effisoft CEO Julien Victor.

"Our growth lets us both acquire new skills and recruit highly qualified and experienced people. The contribution of our skilled team members enables us to handle complex projects in about fifteen different countries and with stringent regulatory requirements."

To maintain the highest standards of quality and to reach the ambitious growth objectives defined by the company's managing directors, Effisoft will continue to onboard more talent in the coming year, Victor added.

Source: http://www.effisoft.com/en/News/Effisoft/effisoft-s-sales-of-reinsurance-risk-management-and-solvency-products-grew-by-6-percent-in-2016-u-s-sales-triple.html

About Effisoft
Effisoft USA is the North American division of Effisoft. U.S. clients include State Auto Insurance Companies, The Motorists Insurance Group, and Aon Inpoint.

Effisoft was founded in 1989 as an independent, expanding, proactive company that respects its commitments towards its clients. It is dedicated to improving its products and services to provide impeccable support to an increasingly diversified and demanding market. The worldwide company has more than 300 clients in five continents and 18 countries.

For more information about Effisoft USA and WebXL, visit http://www.effisoft.com/en or write contact@effisoft-group.com.

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