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04.06.2010 Two million euro agreement for Affecto in South Africa Affecto has made a frame agreement with the South African insurance company: South African Mutual & Federal Insurance Company Ltd, on the implementation of the next phase of The Insurance Application (TIA). The agreement is worth approximately 2 million euros and the duration of the project is 14 months. The Insurance Application is designed for insurance companies to support and enhance their operative performance. Since 2006, Affecto has provided Mutual Federal Insurance with several phases of The Insurance Application. The new project has begun on the 1st of June 2010. "We have walked a long road with Affecto and Mutual & Federal views them as a key partner in delivering our strategic objectives as a company," says David Entwisle, Executive General Manager from Mutual & Federal. "Affecto has proved itself to be a leader in Insurance systems implementation and has specific experience in well managed implementations in our environment," Entwisle continues. The TIA solution enables Mutual & Federal Insurance to manage all functions of the insurance company with one application. This enhances performance and reduces costs. "Insurance companies seem to have the same trend as banks, i.e. they are becoming more interested in packaged software, as it increases efficiency. For example, new insurances can be launched promptly and IT costs decrease. The solution ensures that all the necessary information is correct and accessible from one place," says Stig-Göran Sandberg, Senior Vice President from Affecto. The implementation or tailoring the software to meet customer needs is done, in principal, by the Latvian and Lithuanian units of Affecto. "We have an offshore model of operation: our consultants are in Johannesburg, whereas the developers work in Vilnius and Riga. This model has been found functional," says Sandberg.
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