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Sapiens & Tier-One South African Bank to expand insurance products in Namibia

By Delisha Fernandes

August 24, 2023

  • Fintech news
  • FinTech South Africa
  • IDITSuite

Sapiens, South African Bank, insurance industry, IDITSuite , FinTech news, FinTech South AfricaSapiens, a global provider of software solutions for the insurance industry, has announced that a tier-1 bank in South Africa has selected Sapiens IDITSuite for Property and casualty in Namibia as the core system for its short-term (non-life) insurance business.

The bank has already been using IDITSuite for its core short term operations in South Africa, in addition to the software provider CoreSuite for Life & Pensions for its Life & Annuities business.

“We are extremely pleased to see our successful implementation in South Africa result in a satisfied customer electing to extend our partnership into a new region,” said Roni Al-Dor, President, and CEO Sapiens. “This is the realisation and beginning of a broader African expansion strategy from an operational base in South Africa.”

IDITSuite was chosen by the bank for its expansion into Namibia based on its satisfaction with the existing relationship with the software provider and the successful implementation of Sapiens IDITSuite in South Africa.

Sapiens will operate the bank’s core short term systems in Namibia, in addition to a book of business recently acquired there by the bank from another South African insurance company. At this stage, the implementation will focus on personal lines of business, including motor, home cover, portable possessions, home contents, and personal liability.

Sapiens IDITSuite is a digitally led, end-to-end, cloud-based modular insurance platform; supporting personal and commercial lines of business from acquisition to billing, claims and renewal. The cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data and digital domains to accelerate digital transformation.

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