Insurance Technology Solutions AS strengthens its organisation

Automation and optimisation of data flow is key to make marine insurance more effective and reduce transaction costs. As the owner of Insurance Technology Solutions AS (ITS AS), Norwegian Hull Club (NHC) has decided to strengthen the ITS organisation. This will enable the company to utilise further the benefits of NHC being one of the largest pure marine and energy insurers in the worldwide market, interacting with brokers, clients and reinsurers on a direct basis.

The insurance technology challenges are clear and present for the marine and energy markets’ ecosystem, characterised by manual workflow and high transaction costs. NHC intensified its digitalisation program in 2016, with the purpose to increase client service, efficiency and to prepare NHC for the future scenarios within insurance technology. ITS has at the same time worked hard, in close cooperation with their clients, to stabilise INS2000+ and implement the changes necessary and develop the system to meet current market expectations.

By utilising the synergies between NHC and ITS, in addition to the existing close cooperation with ITS clients, INS2000+ will meet the future insurance technology needs and challenges as they arise.

Providing client support and continuously developing INS2000+ remains the top priority for ITS. This means a strengthened ITS support function with improved service and a focus on developing a more accessible INS2000+, applicable with more automated processes for internal company use and between INS users. Another vital task for the new ITS will be general systems development services. More details will follow during the upcoming INS 2000+ user meeting 7th - 8th June in Copenhagen.

To meet the expectations from ITS' clients and execute the new strategy, priority will lie with building an organization with the required expertise. Changes to management and staff will come into force on 1st February.

Bjørn Kjellerød steps down as CEO and returns to his previous position as Client and Development Director of ITS. Ole Jørgen Eikanger takes the helm as CEO of ITS, in addition to his role as Chief Business Development Officer in NHC. Kenneth Svendsen will take the role as Chief Technical Officer in ITS. Mr. Svendsen holds a Master Degree in Computer science from NTNU. He comes from a position in Sparebanken Vest (Bank), where he was responsible for Enterprise and Application Architecture. Prior to SPV Kenneth Svendsen delivered digital solutions mainly to the finance sector through various consulting and FinTech companies.

Going forward we can claim with confidence that NHC (as owners) and ITS will be goal-oriented in insurance technology development, striving not only to adapt, but to shape the future of insurance technology.

Finally, we would like to take this opportunity to thank Bjørn Kjellerød for his important contribution as CEO of ITS over the last year.
If you have any questions regarding the changes, please contact Ole Jørgen Eikanger.

12. Jan. 2018