Firm Promises Business Transformation for Insurance Industry


  Raheem Akingbolu

Leading insurance software solutions company, 3i-Infotech Ltd, has reiterated its commitment to the service of the insurance industry and practice in the country through the provision of core insurance application with cutting edge technology.

Assistant Vice President & Regional Business Leader for West Africa, 3i-Infotech, Mr. Saurav Verma, made the disclosure in his opening remarks at a stakeholders’ forum organised by the company, tagged PREMIA Conclave that PREMIA range of software solutions is tailor made for the insurance industry.

The forum, which held in Lagos was attended by Insurance industry stakeholders including top level and middle level executives drawn from leading insurance companies including Royal Exchange Assurance Company, Law Union and Rock Insurance, Cornerstone Insurance, FBN Insurance, WAPIC and Zenith Insurance, among others.

According to him, PREMIA offers end to end business process of Life and Non Life Insurance companies including Traditional and Takaful, covering underwriting, claims, Re-insurance and Financial Accounting along with the digital platform keeping an eye on the future demands of the industry.

“We at 3i-Infotech have more than 120 plus customers globally using our PREMIA application; we have over 50 customers in the Africa region. The idea of the PREMIA Conclave is part of our commitment to the growth and development of insurance practice in the country. It is a platform to bring all our customers under one roof.  We listen to their issues, any problems that they are facing which we try to take corrective measures on. We also announce any new developments that we are doing around PREMIA and what we offer in terms of after sales support as well.

“There are many applications in the market but PREMIA is the market leader as far as Africa and the Middle East are concerned, 3i-Infotech is a global information technology company based in India and we have a lot of domain expertise, required tool and skill set for rapid project implementation. PREMIATM is our flagship product for insurance vertical,” Verma stated.

He also revealed that the after sales support is being streamlined and enhanced to suit the growing business needs of customers. He further added that there are 500 resources working in insurance vertical at 3i-Infotech managing PREMIA as a product and project including people from the technology and domain.

While disclosing that 3i-Infotech has customers in Nigeria, Ghana, Kenya, Uganda, South Africa and North Africa, he stated that all the company’s experiences and knowledge of local implementation, local regulation and the domain experience which the company has help to offer a total customer experience in form of PREMIA. He added that that this is what gives his company a competitive advantage that helps the growth and development of the insurance industry in Nigeria.

In his presentation at the event, Vice President, Global Sales, Middle East and Africa, 3i-Infotech Mr. Snehal Desai, explained that “The PREMIA 11 has the digital platform along with it in terms of the mobility, the B2B portal, B2C portal, the business intelligence and the document management workflow. The entire work process of an insurance company is automated by PREMIA., he concluded.