‘Mobile, a Key Trend to Watch in the Insurance Industry in Africa’
Knowing fully well that the mobile is the future, the Head of African Operations for SSP, Rhys Collins, affirmed the growth in mobile is one of the key trends to watch-out for in the African insurance industry.
Collins said this on the notion that African consumers are by-passing the desktop internet connection, heading directly for hand-held devices. He believes modern technology is capable of overcoming the challenges of getting legacy systems towards providing improved risk management and mobile service.
The challenges of getting these services, according to the African head of the leading provider of insurance technology to insurers across the continent, are forcing African insurers to rethink and revise their systems strategy.
Collins also said that modern technology is gradually bringing new players into the continent’s insurance sector. “Insurers need to raise their game,” Collins said citing the likes of M-Pesa and Fundamo which have now become household names, and the rate at which mobile is growing in Africa.
He is of the opinion that insurers and managing agents need a strong core insurance system as well as ICT infrastructure readily available in order to deliver insurance products and services effectively.
“There’s no denying that Africa has entered the age of mobile. Insurers and managing agents need to consider and embrace this,” he noted that there’s the need to make use of ICT to merit practising in the continent’s insurance industry.
Affirming that Information Communications Technology (ICT) is key to every present days industry, the African Insurance Organisation has long cautioned that inadequate ICT infrastructure is one of the major setbacks for the insurance industry on the continent.
Feature Image Credit: Immigration South Africa