Technology
There are special challenges to reach out to the un-served
insurance market, as one of the main challenges is to keep
transaction costs low. Quite simply, high transaction costs can
easily make microinsurance products unaffordable to the mass market
in the developing world.
Another critical way we have pushed innovation is through the
use of our in-house developed Automated Insurance Management
System, or "AIMS". AIMS is built on technology supplied by Temenos,
one of the world's leading suppliers of technology to the financial
services sector. AIMS has been specifically built and tailored to
the needs of processing large volumes of policy and claim
information whilst keeping overheads to a minimum.
We continue to expand AIMS functionality. We have partnered with
Idiom Software to greatly enhance our capabilities by building
their innovative and award winning "business decision" software
into the heart of our product configuration engine. This allows us
to bring new products to market even faster, and ensure they remain
tightly tailored to the needs of the poor.
The ability to provide technology-driven solutions to achieving
low-cost microinsurance products encourages insurance companies
into the market, which in turn leads to scale and sustainability
for both insurer and insured.