Compulynx Covers Kenya's Insurance Market With Cloud9
(AllAfrica Via Acquire Media NewsEdge) Compulynx launched a cloud solution for insurance intermediaries. The solution dubbed "Cloud9" includes a portal to minister administration of various insurance products, manage policy holders' risks by automated alerts to renew their policies.
Sailesh Savani, the CEO of Compulynx says technology has taken almost every business engagement by a storm. The company has since transformed its business portfolio by importing all software products to a multi tenancy cloud platform. "Customers are demanding access to critical business information when most needed, and such deliveries are best handled on the cloud platform", says Savani.
Savani notes that for the insurance market, improved business response time is critical. Cloud9 has modularity capabilities to add future inclusions from the insurance industry and also various units can be delinked for instance the finance from the operations unit.
Pricing of this solution is largely a function of number of users and clients' configuration requirements. Peter Owenje, Marketing Manager says the solution starts from Ksh.10, 000.
Agnes Ndirangu, Technical Manager Insurance Regulatory Authority (IRA) who was present during the launch says insurance brokers handle 70 percent of insurance business in the Kenyan market; this is why Compulynx is keen on this sector.
"The use of ICT will migrate the Kenyan insurance sector to a paperless office that experiences delayed operations due of manual systems". Says Ndirangu.
IRA appreciates cloud technology, the authority has since engaged a consultant for an Electronic Revenue System (ERS) system that will collect data from the market, enable agencies to apply for insurance licenses online, same to the brokers from September 2013.
Savani recommends that clients should only migrate the master data into the cloud not historical information.
Eunice Kariuki, Marketing Director of Kenya ICT Board says the board has prepared a bill to have a Data Protection Act, though it's an ongoing process speared headed by the Ministry of Information. This should govern data migration to the cloud platform among other issues.
Pay as you use model
Portal to minister administration
Automated platform to handle all process of an insurance quotation
Risk management, renewal of policies
Manage programs, insurance certificates
Generate tailor made, and adhoc reports
Customer query management
Peter generates technical content for CIO East Africa and the International Data Group News Service, he also contributes to PC World and Computer World. Peter is classically trained in computing and information management, and he is currently pursing an MBA program in Management Information Systems at the University of Nairobi, @peternalika
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