View this article online: https://www.insurancejournal.com/news/international/2000/05/12/10280.htm
Eleven European countries, including Ireland, have adopted the euro as their currency. Although it is currently used only for financial transactions, it will become their only official currency, when notes and coins begin to circulate in January 2002, which is only 18 months away.
The UK hasn’t adopted the euro, but British and American companies are already doing business in euros with the 11 countries who have, and need reliable methods to avoid conversion problems. Global insurers are one of the sectors most affected by the adoption of the euro, and need to plan accordingly.
This explains the recent announcement by Computer Sciences Corp. CSC with headquarters in El Segundo that it has joined forces with Holland’s Sapiens International “to jointly market Sapiens’ EuroMigration solution throughout the UK and Ireland, targeting insurance companies facing the challenges of euro transition.”
CSC’s broad portfolio of insurance applications has given the company “a superior understanding of how the euro will impact insurance companies both in the UK and Ireland,” said the announcement.
The plan to combine this expertise with Sapiens’s knowledge of the euro conversion marketplace through its EuroMigration program will produce “an end-to-end euro conversion solution that preserves system-wide data integrity throughout the euro conversion cycle,” the announcement continued.
Further information can be obtained from the companies’ web sites at: http://www.csc.com or http://www.sapiens.com.