View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 3, 2005

Siemens signs 300m euro deal with German insurer

The business services unit of industrial conglomerate Siemens has signed a five year, 300m euro contract to run the IT operations of German insurer Gerling and take over its IT subsidiary.

By CBR Staff Writer

As part of the agreement, Siemens will take over, run and maintain Gerling’s IT infrastructure including data centers with IBM and Siemens mainframes using Unix and Windows applications.

The company will also acquire the insurer’s Cologne-based IT subsidiary Gerling Gesellschaft fur Informationsmanagagement und Organsiation, including its 280 employees, and will rename it SBI-IS Insurance Services.

Gerling expects the deal to reduce its costs and allow it to focus on its core business.

Adrian Hammerstein, group president of Siemens Business Services, said the contract is the first major order for the firm in the German insurance market. There is growing cost pressure in the insurance business and the outsourcing partnership with Gerling could signal a change for the industry as a whole, he added.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.