The investment further strengthens FNZ’s presence in the wealth management market in France and Luxembourg.
The solution enhances FNZ’s existing life insurance offering with a proposition that further simplifies life insurance administration for the wealth management industry.
The investment forms part of a wider partnership that sees the Hokus solution integrated into the global FNZ platform. The Hokus Platform will also continue to service clients independently through a variety of offerings.
The partnership represents a further investment by FNZ in next-generation technology and provides access to specialist talent and expertise.
Digitizing life insurance is key to the FNZ purpose to open up wealth helping everyone to invest in their future on their own terms.
29 September 2022, Paris: FNZ, the global wealth management platform, has invested in The Hokus Platform, a Software as a Service (SaaS) provider, to further expand its life insurance offering and presence across France and Luxembourg.
The Hokus Platform which will be fully integrated into the FNZ platform, offers a range of digital solutions that allows wealth managers, private banks, and family offices to manage the contracts of life insurance providers from a single digital platform.
It standardizes, centralizes, and simplifies the administrative management of multiple contracts, regardless of the life insurance provider. By taking away dozens of hours spent on paperwork, The Hokus Platform makes the processing of life insurance contracts 10 times faster allowing customers to focus on advising clients instead.
Life Insurance is critical to the French wealth management sector. The Hokus Platform provides a best in class and innovative solution that offers a fully digital experience amid an insurance market that remains fragmented with various degrees of digitization.
FNZ’s vision is to work together to fully integrate and further enhance the client experience by digitizing the full life insurance journey, removing complexity, and improving the client onboarding process. The investment forms part of a partnership that will see the Hokus Platform fully integrated into the FNZ platform, providing a digital and proven life insurance solution for all FNZ clients. Hokus will also continue to work with clients independently on separate offerings.
FNZ is transforming the industry landscape with its full service, end-to-end global wealth platform and administers more than US$1.5 trillion in client assets. Today, FNZ partners with over 650 financial institutions and 8,000 wealth management firms, enabling over 20 million people across all wealth segments to invest in the things they care the most about, on their own terms.
The Hokus Platform is connected to more than 25 life insurance companies. It helps driving a seamless, real time digital experience and serves more than a dozen financial services clients of various sizes and different stages of development. The Hokus team and existing customers will benefit from FNZ’s investment, expertise, and international reach.
Fabrice Sauvignon, founder and CEO, The Hokus Platform, said: “The investment is a clear recognition of the success of The Hokus Platform and will support the acceleration of the development of our market leading proposition as we look to achieve our mission. We are looking forward to working with the FNZ team and to making life insurance more accessible by adding our life solutions to the FNZ platform.”
Pierre-Henri Denain, FNZ Managing Director France, Belgium, Luxembourg, said: “The investment in Hokus further enhances FNZ’s capabilities in the life insurance market by supporting innovative solutions for the benefit of our clients in France, Luxembourg and beyond. The investment builds on the companies’ shared ambitions to open up wealth by making wealth management more accessible to more people, helping everyone to invest in their future on their own terms.”
Din Mustaffa, FNZ Group Chief Strategy Officer, said: “The investment in The Hokus Platform will further improve functionality and customer choice. Together, we will collaborate to develop best in class technology, which we believe also has potential for deployment in other product areas and geographies.”
To read the press release in French click here.