Zimbabwe’s Optimal Insurance Company (Pvt) Ltd, a subsidiary of one of Zimbabwe’s largest and diversified financial services institution – CBZ Holdings Limited – has shown its commitment to improving service delivery to its clients by recently acquiring the rights to implement AGILIS Core Insurance Software from Agile Technologies (Agile FT), a leading provider of software and services to the insurance, banking and finance sector. The new system, whose implementation is scheduled to begin immediately, will allow Optimal Insurance to not only automate all its existing operations but also enable them to quickly create new insurance products thereby reducing time-to-market.
“We have seen our business grow exponentially and we needed to move away from the existing systems to allow us to become more efficient and provide a better service to our customers,” said Nyasha Makuvise, Group Chief Executive Officer for CBZ Holdings Limited. He added that “with the anticipated economic reforms in Zimbabwe, AGILIS will give us the opportunity to leverage technology to provide new and innovative insurance services for the growing business community in Zimbabwe and new entrants in the business ecosystem.”
AGILIS will provide a single integrated platform and environment that will allow Optimal Insurance to process all classes and types of general insurance products. AGILIS covers the entire spectrum of operations and finance management for an insurer including insurance product management and distribution (policies), underwriting, reinsurance, claims and accounting.
“In today’s current scenario, a financial institution needs to streamline its operations to ensure that they have access to critical management information,” said Kalpesh Desai, CEO at Agile FT. “Clients need to be served efficiently and profitably, whilst ensuring that risks undertaken by the insurance company are adequately covered. We are working very closely with the management, business and IT teams at Optimal Insurance to ensure that the transition is smooth and successful.”
According to Desai, AGILIS will enable the fast, simple and flexible creation of new insurance products that helps reduce time-to-market and expand the spectrum of offerings from Optimal. Available with multi-language and multi-currency support as well as consolidated financial information on multi-currency transactions, its well-defined workflow covers all the steps of the insurance business from a single view of the customer profile to effective management with pre-configured reports, including MIS, as well as web-portals.
Optimal Insurance is part of a larger progressive group of companies in CBZ Holdings Limited.