Since the 90's the pensions market has been shifting focus. From being mostly about insurance it has increasingly become about savings - giving the end customer the possibility to realise their dreams after retirement - preferably with the option of insuring against unwanted events. This is realised through products such as child insurance, accident insurance, health insurance etc. In an ever-changing market, there are a number of players wanting to own the customer relationship through various offers. Banks, insurance companies, insurance brokers, asset managers, funds, unions, interest groups and food chains: They are all trying to convince us to choose their offer.
It has become increasingly apparent that the insurance market is no different from other markets in the sense of it being in a constant state of change, something we have described in a number of articles. Established value chains are breaking up, competition and price pressure are creating new constellations and roles in existing value chains.
Historically Itello has focused on the producers within the area of pensions. Now the need for efficient support of the administrative processes has spread to other actors, such as distributors and "product packagers" of various offers. Functionality that a few years ago could only be found embedded deep within the in-house built systems of insurance companies can now be made available to a salary administrator via Inca: changing the working hours of an employee, his or her salary or benefits, whenever the employment terms change. We are convinced that the old, labour-intensive administrative processes will inevitably be replaced by digital services used by different roles in the value chain.

This is why Itello continues to invest heavily in the development of Inca. These investments are the key to our sucess and expansion in the coming years. We have grown aggressively during the past five years but have still managed a balanced expansion: We must make sure to get each new employee up to speed before recruiting the next. Developing a product that spans as many features as Inca does requires that everyone involved understands their respective role and has the appropriate competence.

Itello's initial focus on offerers of savings products has resulted in our having a product, Inca Contract Administration, that can streamline the administration of insurances, (collective occupational) pension plans with different types of investment management, individual pension savings, and fund savings. In collaboration with our partners we are strengthening our capacity to aid insurance companies in one of their greatest challenges: management of existing systems alongside the implementation of Inca, the new platform for savings and insurance.

In a longer perspective the Swedish market is too small. However in many areas it is the leading market in Europe. It has therefore been natural to develop a system capable of handling the varying needs of many different customers, thereby also addressing various aspects of system internationalisation. With our roots in Sweden and with a background in pensions and savings and banking we are well equipped to understand our customers, the logic of the markets in which they operate and their need for international expansion.

We plan to follow our customers into foreign markets, something our long-term relationships with them will make possible. Customers who are in the middle of an international expansion, or are facing an impending expansion, want support in this venture. We and our partners possess the needed competence to provide this. Our network today covers the Nordic region and large portion of Eastern Europe, Russia and the Ukraine.