HBA-Consulting

What HBA-Consulting does

HBA-Consulting AG is a German provider-independent management consulting firm founded in April 2004 by Hans Barth and headquartered in Idstein. The firm specializes in actuarial consulting, portfolio and system migrations, insurance IT architecture, test management, and regulatory advisory for life insurers, pension funds, and financial services companies in the DACH market. With approximately 50-60 employees and a stated base of more than 60 customers, including the majority of German life insurers, HBA has executed 412+ projects totaling over 90,301 consulting days across 20 years, with 40+ portfolio migrations delivered. Leadership is concentrated in CEO/Majority Shareholder Mathias Ott (Vorsitzender des Vorstandes, DAV-certified actuary, shareholder since 2016), board member Michael Kretzler (sales and people development, 30+ years insurance experience), and board member Sascha Ahmadi (business development, HBA-Lab, appointed April 2023). Aufsichtsratsvorsitzender is Lutz Hoppe.

The company delivers two parallel technology and product streams alongside its consulting practice. Under HBA-Solutions GmbH it develops and licenses proprietary software, notably the Actuarial Test Manager (ATM) for automated actuarial value testing against reference calculators in msg.Life Factory environments, and the Aktuarieller Referenzrechner. Through its 2023 acquisition of Dittrich & Partner Consulting GmbH (DPC) in Augsburg, it added APL software solutions (Dyalog, APL+Win, IBM APL2) and AI/Data Science capacity, taking total headcount above 60. Under the Blocksurance sub-brand, HBA develops blockchain-based insurance consulting and in November 2023 presented BANNY, a blockchain-based collective annuity (Tontine) deployed on Polygon using the Generic Insurance Framework, developed with partner Etherisc.

The business model is primarily project-based professional services billed to enterprise insurance and pension clients in Germany, Austria, and Switzerland, supplemented by software licensing, implementation, and support revenue via HBA-Solutions and DPC. Go-to-market is direct enterprise field sales driven by senior-relationship management, industry reputation, and conference-led thought leadership (ICA, qx-Club, WiMa-Kongress, Life Insurance Innovation Circle), with no public pricing and explicit reliance on referral and reference work rather than paid advertising. Recognition includes five consecutive kununu Top Company awards, FOCUS-Business Top Employers Mittelstand, and the DIND Arbeitgeber der Zukunft designation.

Name

HBA-Consulting

Legal name

HBA-Consulting AG

Website

https://hba-consulting.de

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

HBA-Consulting AG is a German provider-independent management consulting firm delivering actuarial advisory, portfolio migrations, insurance IT, and regulatory services to life insurers, pension funds, and financial services firms across the DACH market, with proprietary software and blockchain-native products.

Ownership category

akta.pro rank

Headquarters

HQ city

Idstein

HQ country

Germany

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Actuarial and Insurance Consulting Services: HBA generates revenue through project-based consulting engagements across areas including actuarial advisory, portfolio/system migrations, product development, regulatory compliance, test management, process consulting, strategic product planning, and IT architecture. Revenue is derived from professional services fees charged to life insurers, pension funds, and financial services companies.
2. Software Licensing and Solutions: HBA-Solutions GmbH develops and distributes proprietary software including the Actuarial Test Manager (ATM) and the Actuarial Reference Calculator. Revenue is generated from software licensing, implementation, and support services associated with these solutions.
3. APL Software and Support (via DPC): Through subsidiary Dittrich & Partner Consulting GmbH (DPC), HBA provides access to APL software solutions (Dyalog, APL+Win, IBM APL2) and strategic consulting on APL upgrades, optimization, and migration — known as 'Zukunftsgespräche APL'.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

HBA-Consulting AG is a provider-independent actuarial and IT consulting firm for life insurers, pension funds and financial service providers in the DACH market. It sells project-based consulting across actuarial advisory, portfolio/system migrations, product introduction, regulatory compliance (Solvency II, VVG, BRSG), test management, business analysis, IT architecture, strategic product and sales planning, and system health checks. Through subsidiary HBA-Solutions GmbH it licenses proprietary software (Actuarial Test Manager / ATM, Aktuarieller Referenzrechner); through HBA-Lab/Blocksurance it delivers blockchain-based insurance innovation including the BANNY pooled-annuity product on Polygon.

Product overview

HBA-Consulting offers a portfolio of actuarial consulting services and proprietary software solutions for life insurers, pension funds, and financial service providers. The core offering includes consulting services such as actuarial consulting, portfolio migrations, business analysis, regulatory compliance, and strategic product planning. The company operates two specialized subsidiaries: HBA-Solutions GmbH (software development) and Dittrich & Partner Consulting GmbH (APL software). Key proprietary products include the Actuarial Test Manager (ATM) for test automation and the Aktuarieller Referenzrechner for reference calculation infrastructure. Under the Blocksurance brand, HBA offers blockchain-based insurance consulting and launched BANNY, the first blockchain-based collective annuity insurance product.

Differentiator

Problem solved

Functional benefit

Brands

• Blocksurance: Brand for strategic consulting on blockchain technology applications in insurance companies, established in 2017.
• BANNY – Blockchain Annuity
• Actuarial Test Manager (ATM)

Products and services

• Aktuarielle Beratung (Actuarial Consulting) Provider-independent actuarial advisory covering actuarial calculation kernel design, product development, risk controlling and actuarial transformation for life insurers, pension funds and financial service providers in the DACH market. Delivered by DAV-qualified actuaries and supported by proprietary tools such as the Aktuarieller Referenzrechner.
• Bestandsmigrationen (Portfolio / System Migrations) End-to-end insurance portfolio and system migration services, from MigrationsCheck through design, data migration, regulatory approval and project execution. HBA has executed 40+ portfolio migrations and participated in 30+ migration projects across life insurance and occupational pensions.
• Regulatorik (Regulatory Advisory) Regulatory advisory for life insurers and pension funds, covering VVG reform, Solvency II, BRSG/BRSG 2 and Altersvorsorgereform implementation through consulting and bespoke regulatory compliance solutions.
• Produkteinführung (Product Launch Consulting) Consulting-led product launches for life insurance and pension providers, from product concept and approval-ready design through market launch and ongoing optimization.
• Strategische Produktplanung Strategic product planning service for life insurers, helping clients design product portfolios in response to changing market, regulatory and customer conditions.
• Strategische Vertriebsplanung Strategic sales planning service for life insurance carriers, focused on reducing acquisition costs without jeopardizing new business volumes.
• Business Analyse Business analysis service for IT projects in insurance — bridging actuarial, business and IT requirements through requirements engineering and analysis.
• Facharchitektur Insurance-specific IT architecture advisory from IST-analysis to target Facharchitektur (functional architecture), supporting system modernization for life insurers and pension funds.
• System-Health-Check Diagnostic service preparing insurance companies for future challenges by assessing the health and modernization needs of their legacy systems.
• Testmanagement / Testoptimierung Test management and test-optimization consulting for life-insurance and pension IT systems, complemented by the proprietary Actuarial Test Manager (ATM) software.
• KI & Data Analytics AI and data analytics consulting for life insurers, covering machine-learning methods (e.g., clustering for actuarial value deviation analysis) and intelligent data strategies for structured and unstructured insurance data.
• Blocksurance (Blockchain Insurance Consulting) HBA's Blocksurance sub-brand delivers strategic blockchain consulting for insurance companies, including assessment, advisory on blockchain technology adoption, and development of blockchain-native insurance products (such as the BANNY pooled annuity in partnership with Etherisc).
• Actuarial Test Manager (ATM) — software product Proprietary software product from HBA-Solutions GmbH providing database-based actuarial test case management, automated comparison between ATE and reference calculators, historization and analysis of test results, multi-client configurability without custom development, and integration with msg.Life Factory and standard insurance calculation engines. Sold under custom licensing.
• Aktuarieller Referenzrechner (Actuarial Reference Calculator) — software product Proprietary database-backed reference calculator for actuarial testing infrastructure from HBA-Solutions GmbH; supports reusable test cases, automated comparison and multi-component architecture for actuarial test automation in life insurers.
• BANNY — Blockchain Annuity First collective annuity (Annuity Pool / Tontine) on a blockchain basis from HBA-Lab, built on the Generic Insurance Framework and deployed on the Polygon blockchain; enables decentralized policy issuance, quote requests, and pension disbursements.
• APL Software Solutions and Consulting (via subsidiary DPC) Access to APL software solutions (Dyalog, APL+Win, IBM APL2) and strategic consulting for upgrades, optimization and migration of APL environments in insurance and adjacent industries — delivered by wholly-owned subsidiary DPC in Augsburg.

Quantifiable outcome

• Over 412 projects completed in 20 years, totaling over 90,301 days of client engagement
• +3 more outcomes

Named customers23 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• EtherisccoreStrategic or Co-development Partner · 26 October 2023Etherisc, a pioneer in decentralized insurance solutions founded in 2016, and HBA-Consulting entered a strategic partnership to deliver blockchain-based insurance products to HBA's clients. Etherisc uses blockchain technology to make insurance purchasing, sales, and administration more efficient, reducing operating costs and increasing transparency. The partnership leverages HBA's deep actuarial and insurance domain expertise (since 2004) combined with Etherisc's blockchain technology platform. Together they developed BANNY (Blockchain Annuity), the first life insurance / collective annuity product on a blockchain basis, deployed on the Polygon blockchain using the Generic Insurance Framework.
• Dittrich & Partner Consulting GmbH (DPC)coreOthers · 29 September 2023HBA-Consulting AG acquired its long-term cooperation partner DPC in September 2023, securing succession of the previous owner. DPC provides access to APL software solutions (Dyalog, APL+Win, IBM APL2) and strategic APL consulting including upgrades, optimization, and migration ('Zukunftsgespräche APL'). The acquisition expanded HBA's total workforce to over 60 employees and extended its competencies in software development and AI/Data Science. HBA's culture is described as very similar to DPC's, facilitating integration.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• PPI AG: PPI AG is a Hamburg-based consultancy specializing in actuarial services, IT, and digital transformation for insurers and pension funds. Direct peer because PPI competes for the same German life-insurance consulting mandates around product development, regulatory compliance, and core-system migrations.
• msg life AG: msg life AG is a leading German provider of software solutions and consulting for life insurers and pension funds, including the msg.Life Factory core platform that HBA's ATM tool integrates with. Direct peer because both firms serve the same DACH life-insurance clients with overlapping actuarial, IT migration, and regulatory advisory services.
• BearingPoint: BearingPoint operates a substantial insurance practice in DACH and is a co-host of HBA's Life Insurance Innovation Circle. Direct peer because BearingPoint delivers actuarial consulting, regulatory advisory, and transformation services to many of the same German and Austrian life insurers as HBA.
• Oliver Wyman: Oliver Wyman maintains one of Europe's largest insurance consulting practices, including actuarial advisory for life insurers. Direct peer because it serves many of the same European life-insurance clients with strategy, risk, and actuarial consulting that overlaps with HBA's portfolio.
• Synpulse Management Consulting: Synpulse is a Swiss-origin consulting firm dedicated to insurance and banking, with offices across DACH. Direct peer because Synpulse competes for actuarial and digital transformation mandates in the German-speaking market, and HBA's board member Sascha Ahmadi previously worked at Synpulse.

Broad incumbents

• Roland Berger: Roland Berger is a Germany-origin global management consultancy with a strong insurance practice covering life, health, and P&C. Broad incumbent because it competes for larger strategic insurance transformation mandates that HBA also targets, but operates a much broader portfolio beyond insurance.
• Deloitte (Insurance Practice): Deloitte's global insurance consulting practice serves European life insurers with actuarial, regulatory, and transformation services. Broad incumbent because Deloitte competes on large multi-workstream engagements and brings global delivery capabilities that exceed HBA's specialist scope.
• Capgemini Invent (Insurance): Capgemini Invent delivers digital transformation and consulting for European insurers, including actuarial and IT services. Broad incumbent because Capgemini competes for technology-led mandates at the same German life-insurance clients, often partnering with or competing against HBA on core-system programs.
• Bain & Company (Insurance): Bain & Company operates a global insurance practice advising life insurers on strategy, product, and operational topics. Broad incumbent because Bain competes selectively on strategic life-insurance mandates in DACH, complementing HBA's more actuarial/operational depth with strategic-level advisory.
• Accenture (Insurance): Accenture operates a large European insurance technology and consulting practice, including life-insurance core implementations. Broad incumbent because Accenture competes for major platform and transformation programs at the same DACH insurers where HBA delivers specialized actuarial and migration advisory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hbaconsultingag

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HBA-Consulting