Africa Insurance Company (AIC), a leading Ethiopia based general and life insurance company, recently upgraded from PREMIA Version 9 to 3i Infotech’s PREMIA Version 11 for its rich functionality and capability. This decision was taken post a lengthy evaluation cycle where Africa Insurance management explored various other solutions. The modules awarded include – Premia11 General Insurance, Premia11 Life & Business Intelligence Module – General Insurance & Life.
While AIC was using PREMIA 9 for the past 12 years, their growing business needs and their aggressive expansion plans demanded for a more comprehensive system with functionalities including motor fleet policies maintenance-upload module, risk upload & maintenance, policy or claim document/image upload, comprehensive customer registration, policy endorsement and renewal, SMS/email, local language support etc.
With upgradation to PREMIA 11, problem areas of the IT system in the company has been addressed with new features and functionalities, in addition to existing PREMIA 9 functionalities. The major advantage of this upgraded version is that since users of the company system are already experienced with the current system, they find it easy to use and operate the new version with minimal training.
“The Web based PREMIA 11 directly supports several of the corporate goals and objectives established by Africa Insurance IT Department and the company management. This includes real-time and accurate reporting of all client enquiries and administrative metrics, improved staff efficiency through centralized management of server and software application, streamlined operations through uniform speed across all the region etc.” said Mr. Rakesh Doshi, EVP & Business Head – Financial Services and Insurance (FSI), 3i Infotech Ltd.
“Moreover, though data migration is always a concern while changing to new system, the new upgrade system data structure matches with the existing system by using proven data migration strategy,” he added.
The migration of General Insurance functions from the PREMIA 9 system to the web-based platform (PREMIA 11) will result in greater efficiency with regards to company resources and business processes. The Project is also aligned to use technology to improve business functionalities.
Highlighting the advantages of shifting to PREMIA 11, Mr. Kiros, spokesperson, Africa Insurance Company said, “Moving to a centralized web-based PREMIA 11 will make it easier to support users in dispatching their operation, shorten turnaround time and enable Africa Insurance Company to manage its operations and administrative duty across the branches in a seamless and consolidated manner. With centralization, head office support team shall be able to support all the branches without the need to replicate these personnel in every branch, thus lowering the cost in operation.”