Kenya’s Madison Insurance Company that specializes on Life, Health, Home, Business and Auto covers has announced it has incorporated a planning solution from SAP that is currently live beginning January, this year.
Personalized for Insurance companies, the Enterprise Resource Planning (ERP) software was implemented by Turnkey Africa and One Connect, which specialize in enterprise solutions for the insurance industry across the continent.
The SAP for Insurance Enterprise Resource Planning solution is designed to achieve Business Process Application functions including, accounting, procurement, fixed asset management, cash flow management and other technology modules that are aimed at establishing and maintaining efficient management processes.
“Increased efficiency and rapid decision-making are key to increase profitability in the competitive insurance market. The new SAP system has enabled us to streamline business processes consistently and provide reliable information,” said James Ngunjiri, MD at Madison Insurance.
According to Ngunjiri, Madison Insurance decided on SAP’s solution based on the reputation the software provider has managed to gain for its excellence in enterprise-wide solution implementations as well as the fact that the ERP solution is tailored for the Insurance industry and would work best to realize the various functions.
SAP has a wide range of solutions that are specifically designed to suit different enterprises depending on what they do, giving organisations a competitive opportunity to streamline operations and administration processes that include optimizing claims, reduced cost and increasing customer satisfaction.
“Madison Insurance’s success is another step in the ongoing successful expansion of SAP’s ERP presence in the insurance and banking industries in East Africa,” said Andrew Waititu, MD for SAP East Africa.
Following the new move, Kenya’s Madison Insurance has now joined the over 700 insurance companies worldwide that are currently operating on SAP’s enterprise solutions as a result of using SAP as their technology partners.