By Celestine Okorie, Correspondent South Africa
A leading insurance technology solutions provider for the global insurance market, Beyontec and an application software and services provider in Zimbabwe, Ethics Consultancy (ECB) have announced a strategic partnership. This partnership will bring together Beyontec’s end-to-end insurance technology solutions and ECB’s in-depth knowledge and project management experience in the regional BFSI sector, to offer innovative digital transformation solutions that will shape the future of the insurance industry in Zimbabwe.
The new partnership was formed with the shared vision of enhancing the digital journey of the insurance industry in Zimbabwe, while also providing measurable returns and process efficiency for the participating insurers.
As part of the new relationship, Beyontec will introduce its core insurance administrative solution, the Beyontec Suite, and the different accelerator tools, to transform insurance companies from legacy to digital. Beyontec will also orchestrate the digitization of the industry using its ecosystem of platform solutions.
“We are delighted to partner ECB in Zimbabwe. This strategic partnership reflects the shared vision and passion towards transforming the Zimbabwe insurance industry to become truly competitive. The future-ready digital solutions and the ability to localize them, will help insurance companies in Zimbabwe become more efficient and compliant while enhancing their abilities to offer better customer service and products” said CEO and Co-founder, Beyontec Solutions (DMCC), Vivek Sethia.
ECB Group Chairman, Luckmore Chitima commented, “We are a highly professional and customer-oriented IT solutions provider focused on creating value for our customers through integrated and comprehensive solutions. This win-win partnership with Beyontec will help us bring the global best practices and cutting-edge digital solutions to the insurance companies in Zimbabwe.”
The rise in economic growth, increased government spending, technological innovations and increased consumer awareness about insurance products are driving growth of the insurance industry in Zimbabwe. Sethia concluded by saying “From a timing perspective, the partnership has come at the right time when the industry is looking to transform and become globally competitive, and when the insurance companies are eager to introduce new, innovative products across all insurance lines”.