Family Bank deploys new bancassurance system, JMR Infotech’s Avenir
Kenya-based Family Bank is implementing a new insurance platform, based on JMR Infotech’s Avenir offering. Avenir – an integrated bancassurance portal – will support Family Bank’s fresh entry into the insurance business.
Just a couple of months back, the bank unveiled a new subsidiary, Family Bank Insurance Agency, to target “the lucrative but highly under-served insurance business”.
Dipesh Shah, GM of Family Bank Insurance Agency, says the new portal will “simplify the policy servicing and claims settlements, thereby improving the quality of service for the customers”.
He is complimentary of the platform’s capabilities, citing its “rich user experience, inbuilt underwriting capability”, “support of multiple product lines” and “easy-to-generate customised reports”.
Shah states: ”We are reengineering the entire bancassurance process. We expect the system to provide tremendous business agility and time-to-market advantage.”
JMR Infotech is already a well-established technology partner of Family Bank, having assisted the bank with the implementation of a range of front and back office solutions. The vendor hopes that with this latest project at Family Bank, “Avenir will serve as a model for the insurance industry as a whole in Africa”.