Insurance PHB Accelerates Pace with Agilis from Agile Financial Technologies

Mumbai - 21 August 2009

Insurance PHB has signed an agreement with Agile Financial Technologies, the leading player in Banking, Financial Services and Insurance to implement the installation of its software, AGILIS Core Insurance.

The implementation which has seven months duration will be overseen by FASYL (Finance Application Systems Limited), their solution provider in Nigeria. The selection of the core application software from Agile FT was made after an extensive evaluation process that included detailed workshops and site visits to existing clients of the software.

Insurance PHB’s intention is to create a strong technology backbone that would become a foundation for its growth strategy. When fully implemented, the software will improve turnaround time of operations in the company.

As an integrated comprehensive solution for insurance companies, applying powerful tools that cover the entire business cycle from underwriting and claim management to reinsurance and accounting, AGILIS Core Insurance will enhance Insurance PHB’s business processes.

Employing a modular and parametric approach to management of the insurance business and deploying its enterprise wide, web-based technologies, AGILIS will ensure quick, accurate and easy access to information. The online portals are expected to greatly enhance interaction between Insurance PHB’s clients, sales force, and agents, as well as provide a competitive edge in expanding its distribution network.

Speaking at the signing ceremony, Managing Director of Insurance PHB, Anselem Igbo, said “the partnership between the two companies is a mutually beneficial arrangement. He said that while the union gives Insurance PHB the opportunity of offering seamless services to its clients, it is a huge opportunity to launch AGILE FT into Nigeria’s financial industry”.

“He said that applying this technology would enhance the skills of the staff and urged those being trained to handle the processes, to give their best in commitment, in order to justify the investment the organization is making in that direction. He said that by deploying state of the art technology offered by Agile FT, it is expected that this project will set an industry benchmark on the timely and effective use of the technology within Nigeria, adding that web services and a robust technology framework will result in creating new possibilities in client servicing in Insurance PHB”.

Chief Executive Officer, Agile Financial Technologies Mr. Kalpesh Desai, expressed “pleasure in the choice of his company as technology partners with Insurance PHB. He pledged the readiness of his organization to demonstrate new possibilities for Insurance PHB, through the use of their technology and expressed confidence that Agile Financial Technology’s systems and processes will be the foundation and enabler of Insurance PHB’s vision of growth and expansion of its market share”.

Chief Executive Officer, Finance Application Systems Limited Bade Aluko expressed “delight in their partnership with Agile FT in implementing this project for Insurance PHB. He said with its wealth of experience of Nigeria’s financial industry, their alliance promises to offer customers in Nigeria access to AGILE FT’s best-of-breed solutions, backed by strong service, and support organizations to achieve mutual long-term success. He expressed confidence on AGILIS as a solution that is proven, scalable and reliable whose tools are very well integrated. Aluko said organizations can take advantage of FASYL’S (Finance Application Systems Limited) presence in Nigeria and their understanding of the business requirements to partner with them on similar projects”.

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