Quantum Insurance Bureau has bought and implemented Websure, Global Technology`s browser-based insurance application at Africa Group Insurance Brokers. The deal is worth in excess of R8 million for the first two years.
Websure was developed by Brolink, a business unit in Global Technology Insurance, a division of JSE Securities Exchange-listed Global Technology. Brolink provides claims management expertise to oversee the in-house claims settlement process. Websure enables Africa Group Insurance Brokers to connect to Quantum Insurance Bureau via the Web, eliminating the need for lengthy installation of on-site software, and removing the cost of dedicated data lines at low-volume sites.
"Our response to clients is much faster using Websure and, because it is Internet-enabled, it is easily accessible," says Ockie van Wyk, MD of AGIB. "We are the pioneer Websure site and Brolink`s experience and service-oriented culture helped move us quickly to full readiness."
Quantum Insurance Bureau facilitates the IT-related services for its main broker, Africa Group Insurance Brokers, which operates in the personal, commercial, financial, medical, funeral, travel and schools markets. Websure will administer the personal lines business on an application service provider (ASP) basis. Brolink`s fee is based on the gross premium income processed through the system. In addition to this contract, Brolink is in the process of configuring an application to administer commercial lines business.
"The transaction-based billing ensures Brolink`s total commitment to the partnership," says Clipstone Webber, CEO of the Insurance division of Global Technology. "By outsourcing its insurance administration to Global Technology, Quantum and in turn Africa Group Insurance Brokers and other brokers working through Quantum are guaranteed that the software and hosting platforms continue to be at the cutting-edge."
The entire project, encompassing software implementation, customised insurance product configuration and the electronic conversion of all Africa Group Insurance Brokers` data from the old platform, was achieved in eight weeks. All 14 AGIB branches now have direct access to all data via Websure.
Websure is an Internet-based insurance solution for insurers, intermediaries, administrators and risk managers. It has multi-product, multi-insurer capability, and is a fully integrated system that links policy management, claims and accounts to a management information system.
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