Ilmarinen expands use of cloud technology with TietoEVRY and Google Cloud
Ilmarinen expands the use of cloud-based Infrastructure services in cooperation with TietoEVRY and Google Cloud. A core part of Ilmarinen’s strategy is to exploit modern cloud technologies, aiming at flexible and efficient business development.
– As a responsible company, we are continuously looking for ways to improve our business, enable a smooth customer experience and manage our customers’ pension assets in a cost-efficient and secure manner. By expanding cloud services, we will accomplish savings and strengthen both the digitalisation of customer processes and the flexibility of service development, says Mikko Lantto, Ilmarinen's Director of Technology and Development
TietoEVRY will continue to work with Ilmarinen as the overall provider of cloud and infrastructure services as well as administering and developing the company’s multi-cloud environment. TietoEVRY has extensive knowledge of the employment pension industry as well as strong transformation and technology expertise in the area of developing modern cloud services.
– It is great to be involved in accelerating the implementation of Ilmarinen's strategy and strengthen competitiveness as well as support the company's digital transformation journey with our strong modernization and cloud services expertise. We are pleased to be able to further deepen our long-standing partnership, says Satu Kiiskinen, TietoEVRY’s Managing Partner, Finland.
Google Cloud has made major investments in its data center in Hamina, Finland, and the employment impact of the data center is large locally. The former paper mill has also been heavily modified to meet the requirements of sustainable development and energy efficiency.
– We made an extensive comparison between different cloud service platforms and Google Cloud was selected from the crowd. In addition to cost efficiency and flexibility, important criteria were the location of the data in Finland, a high level of data security and protection, and local expertise. Ensuring the continuity and uniformity of service production was also at the heart of the selection criteria, Mikko Lantto states.
– By selecting TietoEVRY and Google Cloud, Ilmarinen can take advantage of the cloud while complying with provisions and regulations in the insurance industry such as data localisation to Finland. Google Cloud's open ecosystem will also support Ilmarinen's agile development of digital services and optimize their other technology investments. Our data center located in Hamina also offers low latency data connections which are critical for the performance of Ilmarinen's IT services, says Markus Hongisto, country manager for Google Cloud, Finland.
The transition to the cloud platform will take place in stages, and the first transfers have already been completed. At the same time, other infrastructure solutions will be utilized, selecting the most suitable operating environment for each service.
Ilmarinen’s Interim Report 1 January to 31 March 2022: Premiums written grew, cost-effectiveness improved and solvency remained strong in a challenging market
The return on Ilmarinen’s investment portfolio was -2.2 (4.8 per cent), i.e. EUR 1.4 billion negative due to falling stock prices and rising interest rates. The market value of investments fell to EUR 59.1 (60.8) billion. The long-term average return on investments was 6.1 per cent. This corresponds to an annual real return of 4.4 per cent.
Responsibility for pensions is responsibility for the future – Ilmarinen has published its Annual and Sustainability Report 2021
The carbon intensity of direct listed equity investments decreased and the new Climate Roadmap shows our journey towards a net zero carbon investment portfolio. Ilmarinen’s Annual and Sustainability Report provides information on the impacts that managing your pension security has on the economy, people and the environment.
Ilmarinen will not make new investments in Russia
Ilmarinen Mutual Pension Insurance Company has decided that it will not make new direct investments in Russia or in Russian companies.
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