‘With our software, we want to re-engineer the way insurance business is done’
Isaac Boateng is the Africa Regional Manager, ISI Africa Ltd; a company dedicated to providing technology solutions to the P&C insurance industry. He spoke with GREGORY AUSTIN NWAKUNOR on the recent app designed to help insurers achieve maximum benefit from their IT systems.
Tell us about your company
Insurance Systems Inc. (ISI) is 100 per cent dedicated to providing technology solutions to the P&C insurance industry. We take an integrated approach to policy administration. This means that we don’t believe it ends once the policy is out the door. Billing, claims, reinsurance, loss control and financials are key components of the business, which is why we developed a suite of solutions that bring these pieces together on one modern platform. We also give insurers a few things they wouldn’t normally expect in a policy administration software including CRM, a robust rules engine, a flexible document engine, document management functionality and business intelligence tools – all in one configurable, modern and scalable platform. Insurers, for all lines of business, use ISI Inspection.
Why software for insurance companies?
To create client successes; an intuitive, configurable and integrated product, efficient implementation processes and high quality support from our well trained insurance professionals. It is for all insurance companies that are into commercial property, residential property, marine cargo/vessels, factories & equipment, automobiles, commercial fleets, workers’ compensation and many more.
How does the software help the ordinary user?
ISI Inspection App is a web based app and very secured against all threats. The app includes a flexible configuration component, which allows non-technical administrators to create and modify their own survey forms without requiring programmers. It is a risk control software application that automates the loss control process. The system is a web-based application combined with an off-line tablet version to streamline the inspection process from generating a request on an account right through to completion of the fieldwork, report creation and ongoing service. The system also provides a suite of tools for underwriters and managers to analyse risk and support decision-making. Loss control field representatives, even when working in zones without Internet access, can utilize an offline version of the system. About 75 per cent of insurers in North America and Europe now use ISI RC Inspection Tool and that’s the fact. All smartphones and tablets can use this App. The App is on Google play store.
The number of Nigerians who are insured is still low, with technology like this, is it possible that you are trying to deepen insurance penetration and how does that happen?
Insurance companies must embrace good software and technology. The reason is a good technology with seamless software like ISI Enterprise software suits insurers can reach and serve many customers. It does not require any expertise to operate. It is a very flexible and user-friendly app and any company using our software solutions will be happy using it.
What was the challenge of developing such software?
Everything was right from the word go.
You have created a tool to protect the players in the industry, which is good, what about the customer who has to make the claim, how does this protect him and his interest?
Good. The Insured can view and complete feedback reports within the system based on their experience with the loss control field rep during the field survey and many more.
Are there provisions for complaints?
Does this increase the cost the customer has to bear in the process?
Not at all.
How do you see the insurance landscape this year?
I see growth all round for the insurance industry this year. However, this will be possible and sustained if the insurers embrace good technology. I’m aware some insurers are not happy with the technologies they employ and that they have decided to manage. I will urge them to contact us and they will enjoy partnering with us.
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