FBC Insurance has adopted SSP Pure Insurance’s digital insurance platform to grow its general insurance business in Zimbabwe.
SSP Pure Insurance is a flexible end-to-end core insurance system and single solution for policy administration, claims management, finance and credit control and strong reporting MI.
“We needed a system that would enable us to achieve our growth and cost-cutting objectives. Investing in SSP, a technology partner with a broad footprint in the African and global markets, took the risk out of the decision-making process,” said FBC Insurance Managing Director Musa Bako.
SSP Pure Insurance will enable FBC operate more efficiently and remain compliant with Zimbabwe’s stringent regulatory environment.
SSP’S Customer and Marketing Managing Director Adrian Coupland expressed his delight at FBC Insurance going live on SSP’s digital insurance platform adding, “It will support its objectives of growth, greater operational efficiency, and risk control”.
The sound insurance foundation will allow FBC to focus on its transformation from being an intermediated bancassurer and move into direct underwriting, and to diversify into the growing micro insurance market.
With only a 3.6 per cent insurance penetration rate in Zimbabwe, SSP will enable FBC Insurance to simplify its product design and development process to provide affordable products that match the needs of the currently excluded population.
FBC joins another five top insurers in Zimbabwe who use SSP software.
Kenya’s Resolution Insurance recently picked SSP Pure Insurance to provide a new, robust and flexible IT system to support its targeted 100 per cent growth in Gross Written Premium (GWP) over the next five years.