SimCorp enters into partnership with BPCE

Read press release in French here

BPCE Insurance selects SimCorp to re-internalize its investment accounting.

Paris, Copenhagen - February 27, 2024 - SimCorp, a leading global investment management solution provider, is pleased to announce a strategic partnership with BPCE Insurance, the insurance subsidiary of Groupe BPCE.

BPCE Insurance, with EUR 87 billion in assets under management, has selected SimCorp as its new solution provider for investment accounting.

The decision to partner with SimCorp is a result of BPCE Group's strategic initiative to overhaul its operating model by re-internalizing its investment accounting activity, previously managed by an external service provider.

The integration of SimCorp's market leading solution is poised to transform BPCE Insurance's accounting production by centralizing and optimizing processes, providing better analysis of the financial results of the companies in BPCE' Insurance division according to three insurance standards: French, IFRS and Solvency 2.

The solution will enable a better control of accounting production times by eliminating manual tasks, thanks in particular to new data processing techniques and SimCorp's Intelligent Document Processing solution, as well as fully automating processes and tighter control. Access to dashboards and Business Intelligence tools will streamline internal reporting. 

Through the new partnership, BPCE Insurance aims to centralize accounting production, streamline processes and reduce accounting closing time, while integrating the specificities of BPCE Insurance.

Gilles Bertran
Chief Financial Officer at BPCE Insurance

"Through the new partnership, BPCE Insurance aims to centralize accounting production, streamline processes and reduce accounting closing time, while integrating the specificities of BPCE Insurance," says Gilles Bertran, Chief Financial Officer at BPCE Insurance.

The partnership is the result of a rigorous selection process. With a strong foothold in the insurance industry, including leading insurers in France, SimCorp's proven experience played a pivotal role in the selection process.

The ability to deliver broad functional coverage - across all asset classes - and the wide range of accounting standards managed such as Multi GAAP, IFRS 9, have also been key in the decision.

We are proud to have been chosen as new solution provider by BPCE Insurance. Through our solutions BPCE Insurance will be able to reduce direct costs, improve processing times and deliver faster internal or regulatory reporting.

Ralf Schmücker
Managing Director for EMEA at SimCorp

"We are proud to have been chosen as new solution provider by BPCE Insurance. Through our solutions BPCE Insurance will be able to reduce direct costs, improve processing times and deliver faster internal or regulatory reporting," says Ralf Schmücker, Managing Director EMEA at SimCorp.

"Our teams, made up of business experts and consultants based in France, will be working closely with BPCE Insurances on this project," Schmücker continues.

SimCorp is dedicated to continuous investment in its offerings to meet the latest market demands. As a leading solution provider SimCorp integrates the best innovations and tools on the market, enabling to pool investments to support customers in the future.

About SimCorp

SimCorp is a provider of industry-leading integrated investment management solutions for the global buy side.

Founded in 1971, with more than 2,800 employees across five continents, we are a truly global technology leader who empowers 40 of the world's top 100 financial companies through our integrated platform, services, and partner ecosystem.

SimCorp is a subsidiary of Deutsche Börse Group.

For more information, see www.simcorp.com.

About BPCE Insurance

The companies of BPCE Insurance design and manage a comprehensive range of insurance solutions for the individual, wealth management, professional and self-employed customers of the Banque Populaire and Caisse d'Epargne networks.

A wholly-owned subsidiary of BPCE, France's 2nd largest banking group, BPCE Insurance has two core businesses:

• personal insurance: life insurance, savings, inheritance, retirement, death, long-term care and loan insurance, 
• non-life insurance: motor insurance, home insurance, supplementary health insurance, personal accident cover, mobile insurance, legal protection, satellite insurance, remote surveillance and insurance for professionals.

Media Contact:

SimCorp
Søren Rathlou Top, Global PR & Communications Manager
Tel: +45 31 15 87 06
Email: Soren.r.top@simcorp.com

BPCE Insurance 
Caroline Tordjman, Head of Media and Social Media Relations, Personal Insurance 
Tel: +33 01 58 19 90 14 
Email: caroline.tordjman@bpce.fr