ESICH Life Assurance, a leading life assurance company in Ghana, announced that it has successfully implemented AGILIS Life Insurance System from Agile Financial Technologies. The Agilis solution was selected with the view of providing customers, brokers, agents and channels exceptional service capabilities and superior experience. The deployment of Agilis at ESICH Life Assurance lays down a strong technology platform for the company to execute its future growth and expansion plans across the region.
"ESICH's mission is to provide world-class and trusted life assurance solutions with passion through leadership, technology and innovation. Our main goal is to create value for our customers and make a positive difference. As a life insurance company, we have to deal with large volumes of data that we need to process really quickly. We were looking to implement the most modern and scalable technology solution that would help us build a strong foundation and provide our customers, brokers and agents with affordable high-quality products and impeccable customer service. The solution would need to have proper integration capabilities with our backend accounting system. We reviewed several solutions available in the market and found AGILIS Life Insurance System to be a perfect fit for our requirements," said Richard Adu-Marfo, Managing Director of ESICH Life Assurance.
"AGILIS Life Insurance System is feature-rich, scalable and future proof with strong mobile integration capabilities that helps us provide mobility and accessibility to our agents and customers. Having witnessed the benefits derived by the customers in West Africa using this technology platform, the management team strongly recommended it to our board. Another important criterion for selection was local support. With solid operations in Ghana and footprints all over sub-Saharan African market and beyond, Fasyl Technologies was a partner of choice for us for this implementation," Mr. Adu-Marfo added.
AGILIS Life Insurance System is a comprehensive core solution for life insurance companies dealing with individual as well as group life products, and Pensions. The solution supports the entire insurance value chain including new business acquisition, policy management, claims, reinsurance. It offers a robust configuration engine that helps insurers with ease of creating new products independently and reduces time-to-market. The solution is a modular, flexible and robust policy admin and claims management system, which has multi-lingual and multi-currency capabilities. The solution includes an Accounting module that is seamlessly integrated with all other modules of Insurance Operations and hence all accounting entries are posted online automatically and in real time. The software also helps in reducing manual errors with correct and consistent reporting and automatic reconciliation of accounts.
"While looking for a technology partner, ESICH Life Insurance had pre-defined requisites, which we were able to map and match with our core AGILIS Life Insurance System. Given that ESICH Life Assurance was a relatively new entrant in Ghana, the solution had to be deployed rapidly and ESICH had to be enabled to be in a position to go to market at the earliest. Agilis Life Insurance System has automated their entire process of customer relationship management, proposal preparation, underwriting, claims, reinsurance and accounting, whilst giving them a foundation to distribute their products through banks, agents and also directly service their customers using web portals and mobility platforms," said Kalpesh Desai, CEO at Agile FT.
"We are proud that we have been able to build a strong technology foundation for ESICH to spearhead its growth in Ghana and have deployed a platform that can enable them expand into new markets and geographies, " Mr. Desai added.
Agile FT worked closely with its value added reseller and partner in Ghana, Fasyl Technology Group, and the ESICH team to ensure that the implementation was precise, smooth and seamless. Since the software went live, it has been supporting ESICH Life Assurance's complete operations from product configuration, channel management and commissions, new business, underwriting to premium management.
Fasyl Technology Group, Agile FT's premier VAR in Africa, has local operations in Ghana which provides timely and efficient support service to ESICH LIFE at any given time. It is also a pan-African company that has invested in local resources and is certified to sell, implement and support Agile FT's solutions in the insurance and banking sectors. "Fasyl has been a firm believer in building local skills in terms of sales, delivery and implementation support and has successfully done so around product offerings from premier partners like Agile FT and Oracle Financial Services. Our pan-African presence makes us an ideal technology partner for any enterprise seeking to expand its horizons in the region. We are pleased to have facilitated the successful deployment of Agilis Life Insurance System in Ghana and are confident that we will continue to build on our position of strength and market leadership in this sector alongwith Agile FT", Jude Obiakor, CEO of FASYL International said.
"AGILIS has provided us with reliability and scalability, which in turn is helping us offer world-class services to our customers. As the next step, we plan to deploy the mobility and web-enablement features of the solution, which will help us increase electronic communications with our stakeholders and offer them quicker and better services," Mr. Adu-Marfo concluded.
With AGILIS Life Insurance System, ESICH has been able to streamline its operational processes, improve customer services and plan future growth. Currently operating in Ghana, ESICH Life Assurance plans to expand its business and reach across the sub-Sahara African market in the near future.
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About ESICH Life Assurance:
ESICH Life, which was incorporated and licensed by the National Insurance Commission in 2013, is a fully-fledged life assurance company strategically placed to offer its clients a comprehensive range of life assurance products for education, funeral, investments, employee benefit packages and credit life protection for loans and mortgages. Its current offering of life assurance solutions for individuals is truly enhanced by being able to provide education insurance in a micro-insurance form to enable parents and guardians pay little for quality education for their children. For further information on the company, please visit www.esichlife.com
About Agile Financial Technologies:
Agile Financial Technologies is a leading provider of enterprise software to the banking, financial services and insurance (BFSI) sectors, with a growing customer community of leading banks, insurance companies, investment management firms and financial institutions across 16 countries. The company is recognized as an emerging market leader in the provisioning of software products to the BFSI sector by leading analyst firms and publications. Agile FT's investors include IDG Ventures, a global fund managing USD 6.8 Bn USD. For further details, please visit http://www.agile-ft.com
About Fasyl Technology Group:
Fasyl Technology group is a Pan African financial software consulting company, with presence in 13 countries, head office in Mauritius and development centre in South Africa. Fasyl is a global partner of Agile Financial Technologies and Oracle Financial Services. Fasyl have partnered with Agile FT to implement General and Life insurance solutions to insurance companies across Africa. Fasyl has won awards on excellent delivery services from global financial institutions across Africa.
For further information, please visit http://www.fasylgroup.com
Media Contact:
Nirmala D'souza
OAK Consulting FZ LLC
Mobile:+971507343840
Email: nimi@oakconsulting.biz
© Press Release 2015
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