Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern and Southern Africa region, with operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The group offers a wide range of financial products and services in Insurance and Pension, Asset management, Banking and Property
Britam’s aggressive growth strategy, including regional expansion involves going into new market segments and product diversification. To execute this strategy, Britam has invested billions of shillings in an IT driven business transformation project whose goal is to automate operations and improve customer experience.
FundMaster Xi is the IT platform of choice for its retirement benefits and pension administration business. When completely installed, the system is expected to make Britam more customer centric, as it focuses on delivering value, advanced analytics and real time systems that make interactions faster and more efficient.
“If we consider the insurance industry in Kenya, historically, it hasn’t been known to be tech-savvy. It hasn’t done well when it comes to leveraging IT or using it innovatively, unlike other players in the financial sector, such as banks. But this is bound to change when this project is fully implemented,” said Maina.
With the increased uptake of technology and mobile penetration across sub-Saharan Africa, Maina believes the online insurance and pension market is going to be the next big thing, offering customers their preferred products at the click of a button.