eFront announces the deployment of its eFront ERM solution within Sada Assurances.
Paris | September 30, 2018 – eFront, a leading provider of GRC solutions (Governance, Risk and Compliance), announces the start of production of its eFront ERM solution for Risk Management and Internal Control within SADA Assurances.
A subsidiary of the German group DEVK, SADA Assurances is an insurance company with 130 employees spread between Nîmes, Paris, and regional offices. The company had a good 2017 financial year with a turnover of €139M.
Specializing in niche markets, SADA offers insurance solutions in for buildings, pecuniary/affinity losses and professional multi-risk clients. The teams design, develop and distribute solutions exclusively through a network of partner brokers, operating in both mainland France and overseas territories.
The European Solvency II Directive requires insurance companies to put in place an effective risk management system that makes it possible to detect, measure and permanently monitor the risks to which they are exposed. It also requires insurance companies to carry out an internal assessment of their risks and solvency at least once a year (ORSA process).
The implementation of a risk management tool is a natural part of this risk management and piloting process. SADA Assurances launched a consultation in July 2017. After analyzing the offers submitted, SADA Assurances chose the eFront ERM modular suite from eFront to manage risks and internal control.
Moritz REGNIER, Member of the Management Board of SADA Assurances: “To meet the regulatory requirements of Solvency II, SADA Assurances is committed to a risk management approach. We wanted to set up a risk management tool capable of defining and sharing common benchmarks, collaboratively managing risks and controls and identifying operational incidents. We also wanted to manage risks through appropriate reporting. Therefore, we chose eFront ERM Ready from eFront. We particularly appreciated the speed with which the eFront project team was able to adjust this pre-configured solution to our needs. As the project started in May 2018, the solution will be deployed to our users in early November.”
Philippe BOIRAL, Sales Director eFront ERM: “We are very happy to count SADA Assurances among our new eFront customers. As a leader in France for 15 years in the GRC (Governance, Risk and Compliance) space, the launch of this new project will once again strengthen our strategic positioning as number one in insurance and open us up to new opportunities in Europe. “
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