Insurance PHB to Implement Agile FT's AGILIS Core Insurance Software
IT News Online Staff
2009-08-21
Agile Financial Technologies (Agile FT), a software provider to the Banking, Financial Services and Insurance (BFSI) sector, announced that Insurance PHB, a general insurance company in Nigeria, will implement its AGILIS Core Insurance software.
The implementation, which will be carried out over a period of seven months, will be overseen by Finance Application Systems Ltd. (FASYL), Agile FT's solution provider in Nigeria. The selection of the core application software from Agile FT was made after an extensive evaluation process that included detailed workshops and site visits to existing clients of the software.
Insurance PHB's intention is to create a strong technology backbone that will become a foundation for its growth strategy. When fully implemented, the software will improve turnaround time of operations in the company.
As an integrated comprehensive solution for insurance companies, applying powerful tools that cover the entire business cycle from underwriting and claim management to reinsurance and accounting, Agile FT said AGILIS Core Insurance will enhance Insurance PHB's business processes.
Employing a modular and parametric approach to management of the insurance business and deploying its enterprise wide, Web-based technologies, AGILIS will ensure quick, accurate and easy access to information. The online portals are expected to greatly enhance interaction between Insurance PHB's clients, sales force and agents, as well as provide a competitive edge in expanding its distribution network.
Anselem Igbo, Managing Director, Insurance PHB, said, "The partnership between the two companies is a mutually beneficial arrangement. While the union gives Insurance PHB the opportunity of offering seamless services to its clients, it is a huge opportunity to launch AGILE FT into Nigeria's financial industry."
Igbo said that applying this technology would enhance the skills of the staff and he urged those being trained to handle the processes, to give their best in commitment, in order to justify the investment the organization is making in that direction.
"By deploying state-of-the-art technology offered by Agile FT, it is expected that this project will set an industry benchmark on the timely and effective use of the technology within Nigeria. Web services and a robust technology framework will result in creating new possibilities in client servicing in Insurance PHB," added Igbo.
Kalpesh Desai, Chief Executive Officer of Agile FT, expressed his pleasure in the choice of his company as technology partners with Insurance PHB and pledged the readiness of the company to demonstrate new possibilities for Insurance PHB, through the use of its technology. Desai also expressed confidence that Agile FT's systems and processes would be the foundation and enabler of Insurance PHB's vision of growth and expansion of its market share.
Bade Aluko, Chief Executive Officer, Finance Application Systems Ltd., said that with FASYL's wealth of experience of Nigeria's financial industry, its partnership with Agile FT promises to offer customers in Nigeria access to Agile FT's best-of-breed solutions, backed by strong service and support organizations to achieve mutual long-term success. He expressed confidence on AGILIS as a solution that is proven, scalable and reliable whose tools are very well integrated. Aluko said organizations can take advantage of FASYL's presence in Nigeria and its understanding of the business requirements to partner with the company on similar projects.
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