As the African insurance market continues to evolve, a number of emerging trends are set to reshape the landscape in 2024 and 2025. These changes, driven by digital transformation, regulatory updates, and consumer demand, present new opportunities for insurers to enhance their services, improve customer experience, and increase market penetration. […]
In Africa’s rapidly evolving insurance landscape, staying ahead of the curve requires more than just innovative products. It’s about leveraging technology to streamline operations, enhance customer experience, and ensure compliance with regulatory frameworks. Central to this transformation is the implementation of a core insurance system that integrates every aspect of […]
Leveraging localized ERP (Enterprise Resource Planning) solutions can provide a significant competitive edge.
Treaty reinsurance is insurance purchased by an insurance company from another insurer. The company that issues the insurance is called the cedent, who passes on all the risks of a specific class of policies to the purchasing company, which is the reinsurer. Treaty reinsurance is one of the three main types of reinsurance contracts. […]
Efficiency is essential for maintaining competitiveness in the quick-paced insurance industry. Insurance firms require strong solutions to optimize their operations due to the growing number of policies they oversee, claims they must handle, and laws they must adhere to. That is exactly what ICON Limited’s Bima ERP systems provide, with […]
In today’s fast-paced digital era, insurance firms must innovate and adapt to meet the evolving needs of their customers
The choice between cloud and edge computing is like day and night
With the financial world changing so quickly these days, the underwriter’s function has changed significantly. Underwriters employ data analytics and modern technology to make better decisions and informed choices instead of being limited to manual procedures and outdated techniques. This development has led to the emergence of the notion of […]
Organizations in a variety of industries are increasingly using enterprise resource planning (ERP) systems to improve decision-making, improve efficiency, and streamline operations in the rapidly shifting business landscape of today. The General Ledger module is an important component of an enterprise resource planning (ERP) system, acting as a basis for […]
Cyber security is the practice of protecting computer systems, networks, and data from digital attacks, theft, and damage. Insurance companies hold a wealth of valuable information, including social security numbers, health information, and financial data, making them prime targets for cyber criminals. As insurance firms handle a vast amount of […]
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