• Financial Risk Solutions (FRS) software – InvestPro™ – replaced legacy system at Friends First for Fund Valuations, Unit Pricing and other investment administration functions.
  • 35% cost savings realised within 6 months because of fewer systems and licencing.
  • New efficiencies mean that Friends First can now provide better value products to its clients.

Dublin, 25 March 2013 – Friends First Life Assurance Company, a wholly-owned subsidiary of Dutch insurance group Achmea, has reduced its investment administration costs by 35% since implementing InvestPro™ accounting software.

The specialist investment administration software from FRS was implemented in September 2012 to automate Fund Valuations and Unit Pricing, Fund Accounting, Unit Accounting, Asset Trading, Investment Manager Links, Bank Reconciliations, Market Data Links and Custodian Reconciliations.

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Notes to Editor

About Financial Risk Solutions (FRS)

Financial Risk Solutions Ltd (FRS) is a leading provider of unit pricing and investment administration software specifically designed for the Life Assurance industry. It was founded in 1999 by actuaries and IT specialists and is one of the leading software providers in its sector.

Its Invest|Pro™ product suite is a recognised leading benchmark in the life assurance investment administration market and clients are some of the biggest brands in Life Assurance and Third Party Administration including Accenture Insurance Services, MetLife, and IFDS.

Invest|Pro™ is a modular software system for investment administration that can manage unit pricing and portfolio valuations, asset/liability unit matching, box management, trade order management, investment accounting, financial reporting and compliance with investment mandates in a single application. Product types covered include unit-linked funds, portfolio bonds, self-invested/directed pensions, shareholder funds and with-profit funds.

For more information visit http://www.frsltd.com