State Street and SimCorp have partnered to bring “front-to-back” outsourced investment operations to the insurance asset management market.
The offering will be based on State Street’s Alpha platform and bolstered with access to SimCorp’s Dimension, a multi-asset investment and risk system.
The firm’s say the partnership offers operational efficiencies to insurers, who face low returns and rising tech costs.
“The integration of SimCorp Dimension with State Street Alpha fully addresses what has historically been a fragmented, expensive and time-consuming process across the investment lifecycle,” the firms said.
SimCorp already has a number of partnerships with other assets servicers, who rival State Street. These include in the area of front-to-back office outsourcing.
“This new offering will provide a significant competitive advantage for our insurance clients in the region,” said Jörg Ambrosius, head of Emea at State Street. “This partnership is an example of the open architecture and flexibility that our Alpha platform provides and our commitment to working with SimCorp as a strategic partner to offer the best solutions to our clients.”
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