Technology is changing the face of the insurance
industry in Africa as companies in the sector embrace latest solutions in their
expansion into the continent. This is the prevailing sentiment among experts
from a leading global multinational software corporation.
“Insurers need to know their customers’ current
needs to effectively predict their future demands, and while doing so, find new
servicing opportunities,” said Neo Mathe, Insurance Industry Value Engineer at
SAP Africa.
Mathe proposed leading insurers focus on leveraging
their knowledge of the customer presenting a highly personalized service;
invest in social media, contextual marketing and interactive needs analysis and
introduce innovative products and services, helping customers through every phase
of their insurance life cycle.
Head of Industry for Insurance, SAP Global, Bob
Cummings, concurred. “In a digital economy, solutions that are able to manage
spend and mitigate risk across all interactions are critical. Speed to market
with operational agility is more important than ever before,” said Cummings.
The experts noted insurers could no longer afford
the distance between themselves and the consumer. It emerged there was a need
among insurers to become much more customer centric and engage with consumers
through various channels.
Thus, they need to partner with other industries
service providers of sensor technologies, security providers, health and others
who specializes in the delivery of certain devices and services.
SAP offers a full portfolio of cloud, mobile, and
real-time solutions built on the in-memory SAP HANA platform to foster agility
for mass individualization, ongoing innovation, and improved margins across the
customer relationship. Said to be the first ever end-to-end insurance tool, it
can be fully deployed in the cloud.
It is accepted the SAP cloud solution for insurance
is a comprehensive insurance-in-a-box offering that is used by insurers to
support their business expansion into other markets.
....CAJ News
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