After two successful years as chair of the fintech company Process Factory, Lars Lysdal Jensen has decided to step down from his position. This is to make way for new leadership that will guide the company further on its growth journey.
As the chair, he has secured Process Factory a strong position in the Danish insurance market. He is leaving at a time when the company has tripled its revenue in just a few years.
“Lars has fully lived up to our hopes and expectations. With him on board, we have become even better at understanding how to deliver business value to our Danish insurance customers. He has also helped us dare to do more – to set the bar higher,” says Susanne Møllegaard, CEO of Process Factory.
Growth Requires Commitment
During his tenure as chair, the company has grown from 10 to 30 employees and from 10 to 30 million DKK in revenue. The primary customers are Danish insurance companies that utilize the integration platforms, which are Process Factory’s specialty.
“From being a small player, Process Factory has now become a significant player. We are deeply involved in the critical parts of our clients’ businesses. And that comes with responsibilities. Therefore, I have focused on building an organization that is resilient in meeting regulatory requirements. This includes compliance, ESG, and governance, which are increasingly demanded by authorities. You could say we have prepared ourselves for growth,” explains Lars Lysdal Jensen. He has a long leadership career in the insurance industry.
The Growth Journey Will Cross Borders
The next phase of the growth journey will be led by a new chair at the helm of the offices on Vesterbrogade in Copenhagen, Denmark.
The atmosphere there is filled with great ambitions, hard work, and high spirits among the team. A team consisting of IT developers, consultants, project managers, business developers, and compliance experts.
“We have assembled a fantastic team of dedicated employees. They are the right people to take Process Factory further on the growth journey. Both with current clients and in relation to the insurance industry outside Denmark, with which we have a very positive dialogue. Now, the board will also be further strengthened, and I look forward to following the development from the sidelines,” says Lars Lysdal Jensen. He stepped down in August 2023.
The new chairman of Process Factory will be Per Erik Sørensen. He is a former partner at the insurance and pension brokerage firm Willis Towers Watson and is currently a board member at CSA CPH and Lytix Biopharma.
“We are incredibly pleased that Per Erik Sørensen has accepted the position. There is no doubt that with his extensive knowledge and experience, including board work, he can contribute to further developing Process Factory,” says Susanne Møllegaard.
Per Erik Sørensen assumed the role of chair of the board for Process Factory on August 28, 2023.
ABOUT PROCESS FACTORY
Process Factory is a highly specialized strategic IT development partner primarily for Danish insurance companies and their partners. The company specializes in Danish country layer integrations, has strong business expertise, and understands the insurance industry from the inside out – a combination that cannot be found elsewhere.
The company’s vision is to take on even greater responsibility for their clients’ integration tasks. This is done through the development of Connector Plus (CO+), which is a hosted SaaS platform that will eventually encompass all critical third-party integrations for insurance companies, such as a new termination solution, automatic tax calculation, and claims history.