ByÂ Â Patience Saghana
Insurance PHB Limited has announced the successful deployment of their newly acquired Insurance Software suite â€“ AGILIS.
The Software implementation which has taken a period of eleven months was jointly undertaken by Agile Financial Technologies, a leading player in the BFSI (Banking, Financial Services and Insurance) space in Asia and its partners, Fasyl, another leading solution provider in Nigeria, making Insurance PHB Limited about the topmost technologically advanced insurance company in Nigeria considering the features of the software, the present vast and the efficiency of operation aided by the application in the insurance company.
AGILIS Core Insurance System is an integrated comprehensive solution for insurance companies covering every aspect of the insurance companyâ€™s operations. In a statement released by the firm and signed by its Group Head, Corporate Communications, Mr. Louis Ibe, the new technology is now extending Insurance PHB Limitedâ€™s reach by providing access to entire workforce of Insurance PHB nationwide, agents and brokers, enabling them issue on-the spot policies while interacting with the underwriters and other technical personnel on the web, thus extending companyâ€™s distribution channels beyond its initial limits of operation.
By reason of this completed implementation, the statement read â€œInsurance PHBâ€™s customers and agents will derive the benefit of greater speed and better quality service levels in all ramifications, innovative products, and self service capabilitiesâ€.
Agilis Core Insurance Softwareâ€™s straight-through processing and workflow capabilities now also enhance and enforce deepened technical risk and liquidity management practices through its tightly integrated thorough underwriting, seamless claims processing flow, accompanied by reinsurance and accounting modules of best international standard.
The tools according to the Managing Director/Chief Executive Officer, Mr. Anselem Igbo are targeted at enhancing all aspects of Insurance PHBâ€™s business processes, reducing time-to-market, effectively manage turnaround times for policy issuance, speedy claims settlement and generating consolidated financial statements.
The idea is to make every customer know he is still king in this business, raise patronage, increase market share and make acceptable returns to investors while attempting to satisfy all stakeholders.
Announcing the go-live take-off at the corporate headquarters of Insurance PHB Limited in Lagos, Mr. Anselem Igbo said Insurance PHB Limited had adopted theÂ Â Agilis Insurance Software because it suites as a perfect tool for the companyâ€™s business operations as it effectively guarantees the level of Information Technology solutionsÂ planned for the companyâ€™s transformation strategy.
He said the application of this software would ensure data integrity, security, regulatory compliance, user friendliness and flexible reporting.
Igbo said the company has painstakingly undertaken a thorough implementation of this project to deliver these technologies based on Global best practice adding that the companyâ€™s best human resources have been committed to the project.
He reiterated the companyâ€™s resolve to be among the top three insurance companies in Nigeria through technology based innovations, highly improved quality service, enhanced speed in turn-around time including in claims settlement.
â€œAs you know,Â our vision is to be among the top threeÂ Insurance Companies in Nigeria in delivering exceptional services and this we want to achieve through various well articulated strategies, one of which is through a highly technology based innovation. As a result, we agreed to upgrade our servicesâ€™ quality delivery to increase our market share through the newly acquired robust world-class IT infrastructureâ€.
The Managing Director called on staff of the company to remain resolute in the companyâ€™s commitment to record a success of this multimillion Naira project to the delight of its customers and share holders.
Mr. Igbo praised the efforts of the Software Provider, its Nigerian Partner and the consultant on the project, in seeing to the completion of the implementation process, urging them to ensure their promised support as the company begins the full application of the new software in its operations.
On his part, Chief Executive Officer of Agile Financial Technologies, Mr. Kalpesh Desai, said his organization is pleased to partner with Insurance PHB and are proud to provide the platform for their growth. â€œThis is a significant milestone for all of us. The project had all the right ingredients to ensure success â€“ a customer who knew what they wanted, our partner (Fasyl) who provided the program management and trained resources, and a strong software platform (Agilis) that laid the foundation for delivery,â€ he said.
Group Managing Director/Chief Executive Officer of FASYL Technology Group, Mr. Bade Aluko said Insurance PHBâ€™s decision to choose Agilis is a testimony to how Agile Insurance Solution offering is transforming the insurance business across the globe.
Aluko said his company is optimistic that the insurance sector in Nigeria and Africa is becoming more competitive. They are therefore customer focused leveraging on their technology and services as the local partner to derive patronage from industry Operators