Assar selects Beyontec to implement platform ecosystems for Rwanda Insurance Industry
Beyontec, a leading global provider of insurance technology solutions, announced today that it had been selected by the Insurance Association of Rwanda (ASSAR) to implement a digital ecosystem of different platform solutions for the insurance industry in Rwanda.
Founded in 1992, ASSAR has been at the forefront of driving rapid transformation across the regional insurance markets in Rwanda. Through this partnership, Beyontec will assist ASSAR to accomplish its vision of synergizing and empowering the insurers and other constituents to seamlessly interact and promote business with each other while delivering consistent customer experiences.
Beyontec and ASSAR collaborated to undertake few transformational platform-centric insurance initiatives, such as the end-to-end transformation of motor certificate, moving away from a paper-based system to a fully automated digital motor policy issuance and administration platform. They will also work together to establish a claims recovery platform to manage intra-company claims recovery, a data repository platform for smooth information exchange related to claims and frauds, a comprehensive garage registration and management platform and a finance analytical platform to manage statutory reporting.
Speaking on the occasion, Gaudens Kanamugire, Chairman of ASSAR (The Rwanda Insurers Association), commented, “The current expectations of insurance customers across the African regions have gone up as influenced by the digital revolution. Today, we need to leverage the abundance of customer data and platform ecosystems to create collaborative business models that will help both insurance players and end customers”. On the partnership, he added, “We believe that Beyontec is the right partner to help us navigate past challenges like data management, increase in the number of insurance-related non-compliance, and legacy IT system modernisation while empowering us to invest in a workforce of the future”.
By delivering platforms that offer accountability, transparency, and efficiency into how the industry is performing, Beyontec is confident of alleviating the pain points of insurers, customers, and other industry players.
Commenting on the partnership, Vivek Sethia, Director and Co-founder of Beyontec Solutions (DMCC), said, “We are proud to be associated with ASSAR whose vision for the industry matched ours. Together we are committed to driving platform-driven insurance transformation in Rwanda. Our industry interactions with regional insurers highlighted the pressing demands for relevant platform ecosystems. We are already working with ASSAR on several key initiatives, and we look forward to bringing our world-class best practices into the African market and offer cutting-edge digital platform solutions”.
With Beyontec’s proven track record of delivering future-proof technologies, products, and platforms to aid the digital transformation of insurance providers worldwide, ASSAR’s is confident that their expertise would go a long way to help insurers in Rwanda transact real-time digital business, improve cash flows, and enhance the customer service.