By Ebere Nwoji
KBL Insurance said it has launched a new Enterprise resource planning software (ERS) called IES-Online Application.
The firm said this is part of its strategy to make its insurance products more accessible to the insuring public and bring services closer to its esteemed customers in good time.
The Managing Director and Chief Executive Office of the company, Mrs. Ukachi Orji while responding to media questions in Lagos on the software system said, “KBL Insurance Limited, had no choice but to up skill its operational modules, to match the ever-dynamic lifestyles of their esteemed customers, with the aim of satisfying them much better than it was in the past.
She said in employing the software, the company particularly considered the very stiff competition in the financial services sector and their ever-growing demands”.
Orji said the essence was to serve customers faster and at lower costs. She said this approach resonates with customers as almost 85 percent of them want to buy insurance policies more quickly, get all their issues, including claims settlement sorted out, eschewing the typical back-and-forth and unnecessary delays, associated with the industry in the past.
“Insurance companies in Nigeria had operated with low profit margins, and faced increased competition both in terms of price and time to serve.
She said the adoption of emerging tech such as advanced analytics, NLP, digital twins to serve customers faster and at lower cost, was introducing expected relief,” she further explained.
She said to keep up; insurers are now renewing their underwriting departments, re-insurance and claims operations to price risk better and in less time.