By Emeka Aginam
SAP Africa in partnership with Hartford Green Consulting, has announced the provision of cloud technology to cater for the needs of the rapidly growing insurance industry in West Africa.
With this partnership, SAP A1 solution will be used as a managed cloud service (MCaaS) go-to-market model on a customer subscription basis. The SAP A1 or SAP Businesss All-in-One is an SME product specifically designed for thriving small to medium businesses.
It will be recalled that Hartford Consulting in partnership with SAP Africa and the West African insurance sector, has invested in several technology solutions that will offer insurance sector customers a very powerful and price competitive solution to meet their technology needs and budget constraints.
This offering will also allow them to challenge traditional competitors that have dominated this market segment up until now.
Hartford Green Consulting provides a range of consulting services to leading private and public institutions in West Africa and is a local implementation partner and SAP VAR (Value Added Reseller). The insurance sector in the region is currently experiencing a boom and requires innovative enterprise application technology solutions to optimally service customers.
According to SAP West Africa Managing Director, Richard Edet, "West Africa is a price sensitive region when it comes to software purchases. SAP A1 provided as a managed cloud service solution and offered in a licensing model should better meet the needs of the insurance sector customers than traditional on premise software since it will offer them quicker implementation, quicker time to value and better total cost of ownership."
Edet commented that the new project supports SAP A1 Enterprise Resource Planning and the core insurance module of the deal includes Policy Management, Commissions Management, Collections and Disbursements, Claims Management, Casualty for Insurance, Investment Management and Fraud Management.
The deal also includes Business Analytics, HCM (Human Capital Management ) and CRM (Customer Relationship Management) solutions and will increase processing efficiencies and customer service while supporting the insurance industry's expansion in the region.
Adebayo Akinwunmi, CEO at Hartford Green Consulting commented, "This new SAP A1 model provided as a managed cloud service and available on premise will shorten the insurance sales cycles drastically, as customers can now enrol on a single source solution provider.
Hartford also aims to address the mid to upper end of the insurance market with this subscription-based cloud offering. With a competitive offering Hartford will be able to scale, be more competitive and drastically increase the reach of SAP Africa in the West African geography."
He also said the new solutions would drive profitable sales of innovative products, support informed business decisions and provide visibility while also reducing operational costs in the region's insurance sector.
Source Vanguard
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