SUCCESS STORY: VIRIDIUM

With approximately four million policies and assets under management of more than 68 billion euros, Viridium is the leading specialist for the efficient management of life insurance portfolios and one of the largest life insurance groups in Germany.  With its policy management system, it makes an important contribution to ensuring that private retirement provision with life insurance remains reliable and attractive despite difficult underlying conditions. With its model of portfolio management, Viridium is dedicated to keeping private retirement plans based on life insurance reliable and attractive, despite the low-interest environment. To this end, Viridium focuses 100 percent on the management of established customer relationships and their existing contracts. The Viridium model is based on smooth integration processes, modern portfolio management systems, customer-focused service units and well-performing capital investment.  The portfolio companies of Viridium Group are Heidelberger Lebensversicherung, Skandia Lebensversicherung, Entis Lebensversicherung and Proxalto Lebensversicherung.   In total, Viridium has around 900 employees who are committed to serving the needs of its customers. 

For the Viridium group to exercise balance sheet sovereignty as of 2020, the accounting of the former Generali Lebensversicherung and the related real estate companies had to be transferred to the SAP general ledgers and subledger of Viridium as part of an initial data transfer (FI migration).

The functional and technical conception was carried out with the support of msg treorbis. The data migration was to include the application data of the SAP modules FI, AM, CO and customer/vendor master data. The business partners (customers/vendors) were transferred and created 1:1 without any changes.

The task consisted of a carve-out of company codes from Generali's SAP S/4HANA followed by a carve-in at Viridium. The SAP S/4HANA version differences between the two companies and the resulting need for extensive data adjustment posed a particular challenge. There was also the implementation of an extensive mapping of charts of accounts and posting information in order to transform the accounting structures of the source to the target structures of Viridium.

In addition, starting with the FI migration, postings from Generali's accounting had to be transferred to the Viridium general ledger on a daily basis for a period of 38 months (until the migration of the insurance contracts was completed).

The business concepts with their high requirements, created by Viridium with the assistance of msg treorbis, marked the starting points for the demanding technical implementation of initial data transfer and ongoing FI coupling. The implementation started with a carve-out of the posting documents and posting items of the last two years from Generali’s accounting. Based on the previous two fiscal years and open items, ten company codes were migrated, transformed and transferred to Viridum’s system. In this way, a total of nine million posting documents with 44 million document items were transferred.

Subsequently, the automated interface was put into production for a duration of three years to ensure the daily, continuous data transfer. During this period, SNP’s team continued to assist the Viridium group. Approximately 45,000 document items were transferred daily via this interface.

The go-live took place on time and on budget nine months after the project start. The go-live of the automated interface took place four weeks later. In addition to the flexibility and adaptability of the SNP software, the excellent cooperation between SNP and msg treorbis as partners was a factor that ensured the success of this complex project. The result was significant added value for the Viridium group.

The project was the first carve-out of an S/4HANA system (version 1605) with a carve-in to another S/4HANA system (version 1809) for SNP and msg.

• Successful project completion thanks to the SNP software and msg/SNP methodology
• Go-live on time and on budget

Hard Facts