Esich Life Assurance, a life assurance company in Ghana, announced it has 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 a 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 fit for our requirements,” said Richard Adu-Marfo, Managing Director of Esich Life Assurance.
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 Financial Technologies.
Agile Financial Technologies worked closely with its value added reseller and partner in Ghana, Fasyl Technology Group, and the Esich team to ensure that the implementation was 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 Financial Technologies’ 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 Financial Technologies’s solutions in the insurance and banking sectors.
“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,” 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.
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.
(Originally released March 2015)
