Agile Financial Technologies has signed a contract with Focus General Insurance, who have acquired their license in Zambia, to deploy its general insurance solution, Agilis Core General Insurance. Agile Financial Technologies integrated comprehensive insurance solution will cover Focus General Insurance’s entire business cycle from underwriting and claims management to reinsurance and accounting in addition to helping the company streamline its business processes and increase operational efficiency.
According to a company statement: “In our quest to meet the changing needs of our marketplace as well as to meet our company’s strategic objectives, we were looking to implement a comprehensive core insurance software, which would not only automate our day to day tasks, but would also provide mobility and accessibility to our brokers, agents and customers. The solution also needed to be scalable, where it could easily be integrated with new technologies to aid our future growth and expansion in the region. After thoroughly reviewing a number of solutions from different vendors, we found that Agilis Core General Insurance came closest to meeting all of our requirements.”
“Agilis will cover the entire spectrum of Focus General Insurance’s operations and finance management including insurance product management and distribution policies, underwriting, reinsurance, claims and accounting. It not only meets the end-to-end processing of our business requirements but it also has strong mobile technology integration capabilities as well as the ability to extend our outreach to agents over the web.”
Agilis Core General Insurance is an integrated comprehensive solution for insurance companies covering the entire business cycle from underwriting and claim management to reinsurance and accounting. With a set of tools, this solution is aimed at enhancing insurance business processes and other aspects of an Insurance company that directly leads to higher profitability.
Featuring multi-language and multi-currency support as well as consolidated financial information on multi-currency transactions, Agilis’ well-defined workflow covers all the steps of the insurance business from a single view of the customer profile to effective management with pre-configured reports, including MIS, as well as web-portals.
“Focus General Insurance is a recently established general insurance company and a firm believer in technology being the foundation for growth and market penetration. After a stringent evaluation process, they chose Agilis Core Insurance as their technology backbone. It is entirely web-based and ensures quick, accurate and easy access to information by employing a modular and parametric approach to the management of insurance business and deploying it enterprise wide. In addition to the core operational efficiencies that Agilis brings in, Focus General Insurance will also be able to leverage our mobility solutions and web portals to automate agents and brokers. Focus General Insurance’s time-to-market will be substantially reduced due to our comprehensive product configuration capabilities,” said Kalpesh Desai, CEO at Agile FT.
“We are working closely with Focus General Insurance’s management and IT teams to ensure that the implementation is done quickly and the transition is smooth and successful. With this sign up, Agile FT has now consolidated its position as the market leader in the provisioning of core insurance software in the Sub-Saharan region,” he added.
Focus General Insurance offers a wide range of structured general insurance for both commercial insurance products and retail, personal insurance products. Currently operating only in Zambia, Focus General Insurance plans to expand its business and reach across the African continent in the near future. Focus General Insurance was licensed by the Pension and Insurance Authority in 2013 to offer a wide range of structured general insurance products in the Zambian market.
Agile Financial Technologies is a leading provider of enterprise software to the banking, financial services and insurance sectors, with a growing customer community of leading banks, insurance companies, investment management firms and financial institutions across 16 countries. Agile Financial Technologies investors include IDG Ventures, a global fund managing $6.8 billion.
(Originally released July 2013)
Click below to share this article