SDT solution to improve life assurance in Africa

The African Insurance Organisation (AIO) has chosen to endorse SDT Amsolf, a life and group assurance administration system from local financial solutions developer and provider SDT Financial Software Solutions (Pty) Ltd.

SDT Amsolf was introduced to members of the AIO at the recent 31st Conference and General Assembly of the AIO, held in Tunisia. The conference was attended by over 600 delegates representing more than 200 companies from 55 countries.

SDT Amsolf addresses the need for life assurance companies in emerging markets to acquire an affordable life and group administration solution. Research done by SDT has shown that administrators in Africa need access to the same functionality that existing First World markets enjoy, but at less of a cost.

The system will enable AIO members to bring a range of new products to the marketplace as soon as the solution is implemented.

"We need to provide and improve the service to all administration members of the AIO, operating in Africa," said Yoseph Aseffa, Secretary General of the AIO. "This can only be done by launching new products that can satisfy clients and by doing this quickly and cost-effectively. SDT Amolf will be the vehicle used to achieve these goals. SDT understands both the life assurance business as well as the challenges we face in Africa."

Basil Reekie, Director of QED Consultants and Actuaries and Chairman of the AIO Life Committee, was pleased with the results of the AIO system sign-off. "We are satisfied that the system has the ability, when configured correctly, to handle the relevant values in an actuarially sound manner," he said.

QED assisted the AIO with the processes of confirming that SDT Amsolf was suitable for use in emerging markets.

SDT combines its extensive knowledge of assurance products, processes and systems into a system that is easy to implement and use.

Kobus Pretorius, Sales consultant at SDT, says: "The endorsement of SDT Amsolf by the AIO is valuable in a number of ways, not least of which is the increased presence that it gives us in Africa. We have seen an increase in interest from many areas and companies within Africa over the past year and with this endorsement it gives our plans for extending our reach into Africa a welcome boost."

The endorsement gives SDT a much wider international footprint with 21 enterprise clients in seven countries across two continents, including Metropolitan International, Old Mutual and Sanlam.

The implementation projects will be challenging ones, given the locations in Africa, but SDT's proven implementation methodology and project management framework will go a long way to ensuring the success of the projects. "Our proven ability to service the African market efficiently and effectively was key in the gaining endorsement from the AIO," says SDT Director Freda du Toit.