Zimbabwean Bank goes with Exergy as it targets insurance market

Connect, the implementation and support division of SilverBridge Holdings, has started implementing the SilverBridge Exergy insurance administration solution at CBZ Life.

“While CBZ, a Zimbabwean provider of long term insurance products, has been able to sell non-complex life products (such as credit life) to its customers, it needed the ability to provide more advanced insurance solutions through its established banking channel. SilverBridge and Connect were selected based on their experience in both the South African and Zimbabwean banc assurance markets,” says Lee Kuyper, CEO of Connect.

Exergy was a natural fit in meeting the requirements of CBZ. The pre-configured version of the software, Exergy2Go, has been designed to immediately be deployed to the client’s environments and then customised to meet the specific requirements of the client.

Not only does this mean a faster time to market but it also results in clients immediately working on a preconfigured base of standard processes and products that are already established in the system.  This ensures that the most benefit possible is gained from the new platform and that the client is able to gain efficiencies through a higher level of standardisation.

Training is provided on the Exergy2Go platform which gives CBZ the ability to start working with the software at the beginning of the project. This facilitates change management, often a key challenge in any project of this nature.

The implementation approach adopted by Connect follows an iterative cycle of configuring and testing the client specific changes to Exergy2Go, all the while involving the CBZ trained staff to ensure that there is alignment on what is required and what is being delivered.

“Exergy is providing CBZ Life with a platform to administer several insurance products that are either already being sold in the market or planned to be launched in the market going forward. Through the use of Exergy and the unique implementation approach, CBZ will be in a position
where they will not only have a platform to grow their business, but will also be able to do so in an efficient and largely self-sufficient manner,” says Kuyper.

“We are happy with the Exergy2Go implementation process. The Connect team provided a clearly defined baseline project plan, making it easy for both the CBZ and Connect teams to set benchmarks for each project deliverable. Their iterative cycle of configuration and testing our product changes on Exergy2Go, made the whole process customer-focused thereby improving the desired product.  In addition, their tightly integrated interface with our core banking system eliminates a lot of manual interventions during premium collections and reduces a lot of risk related issues” says Nobert Mureriwa, Managing Director of CBZ Life.

The ease of which Exergy interfaces with external systems makes this a differentiating factor in the market and was one of the key reasons why Exergy was selected as an administration platform. Custom integrations often become the most complex elements of project implementations.
The design of Exergy and the SDK (Software Development Kit), however, makes it a much smoother process for CBZ and the Connect implementation team.

“SilverBridge is focused on making its solution tangible to its customers. It provides a unique platform for a level of business standardisation and improvement which is a differentiating factor when compared to other providers,” concludes Kuyper.

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