Prima Solutions

Prima Solutions is a French InsurTech group that provides software solutions designed to accelerate the digital transformation of the insurance sector. The company was founded in 2000 and has established itself as a key player in the European insurance industry over the past two decades. A significant milestone in the company's history was its merger with Effisoft in December 2018. This strategic combination, backed by The Carlyle Group as the majority shareholder, created one of the largest insurance technology providers in Europe, North America, and the Asia-Pacific region, with the joint entity led by Hugues Delannoy of Prima Solutions and Julien Victor of Effisoft. In January 2023, Prima Solutions was acquired by Total Specific Solutions (TSS), a European leader in vertical market software, marking TSS's entry into the French insurance vertical.

The company's business is centered on developing and publishing comprehensive, cloud-based software that covers the entire spectrum of insurance business processes. Prima Solutions serves a clientele of over 40 insurance companies, mutuals, and large brokers. Its business model revolves around providing these clients with highly configurable and modular platforms delivered in a Software-as-a-Service (SaaS) model. This approach allows for the transformation of legacy IT systems and the streamlining of core operations. Revenue is generated through the provision of these software platforms and related services.

Prima Solutions offers two main platforms: Prima P&C for Property & Casualty insurance and Prima L&H for Life & Health insurance. These platforms manage the complete lifecycle of insurance policies, from distribution and underwriting to claims management and analytics. The software is designed to handle all types of P&C products, including auto, home, and on-demand insurance, as well as group and individual health, personal protection, and mortgage insurance. Key features include a self-care portal for end-customer interaction, tools for regulatory compliance like Solvency II, and analytics for data exploration and rate simulation. The platforms are built to be easily integrated into a client's existing ecosystem, enabling them to automate processes, reduce time-to-market for new products, and improve the overall customer experience.

Keywords: InsurTech, insurance software, digital transformation insurance, P&C insurance platform, Property and Casualty software, Life and Health insurance software, L&H platform, reinsurance software, Solvency II compliance, cloud insurance solutions, SaaS for insurance, policy administration system, claims management software, insurance analytics, underwriting software, insurance business process, core insurance platform, Total Specific Solutions, Hugues Delannoy, Julien Victor