FinAPU supports UNIQA Insurance Group AG
FinAPU as a control tool in risk management
By applying the tools of FinAPU UNIQA Insurance Group AG is now in a position to compute the default risk in the portfolios of the parent company as well as in those of subsidiary companies at the push of a button and to establish an efficient risk monitoring. IT based processes reduce the operational risks and enable an efficient use of resources. The quality of the risk models and data used are critical for a smooth operation of an insurance business, as indeed are also factors such as stability, speed and transparency of the software used. In a joint effort of specialists from UNIQA and FinAPU the risk management tool FinAPU (developed by FinAPU GmbH) was adapted in order ensure optimal risk steering/management and to meet all other regulatory requirements.
For the two founders of FinAPU, Karl Tasch and Felix Diem, it has been as very special task to analyze and optimize risk processes and routines of one of the most successful internationally active insurance company of Austria.
UNIQA Insurance Group AG became client of FinAPU GmbH at the beginning of 2020. The primary use of FinAPU Risk Management is in the analysis and surveillance of „Default-Risks“ of unrated credits (mainly banks and corporates).
„FinAPU represents a very valuable support tool for the management and the monitoring of default risks as it offers comprehensive customer coverage, sector specific and transparent risk models as well as the possibility to integrate internal qualitative credit risk parameters“ Mag. Paul Buchner, Head of Group Risk Management, at UNIQA.
Together with UNIQA and other FINAPU users in the DACH region (Germany, Austria, Switzerland), in Italy, Malta the UK and the US our risk management platform is being continuously further developed in order to identify ever increasing requirements and to address them adequately.
