Press Release

Ethiopia’s youngest insurance firm, Bunna Insurance S.C has selected Amity Software Core Insurance Solution to Modernize & Accelerate Business Transformation

Bunna Insurance S.C has selected Amity Software Core Insurance Solution to Modernize & Accelerate Business Transformation

We are pleased to announce that the youngest insurance firm, Bunna Insurance, one of the leading General insurance company in Ethiopia, has signed a deal with Amity Software to implement Amity’s core insurance solution for driving customer engagement.

Incorporated in 2013, Bunna Insurance was limited to non-life insurance policies until recently. Last year, the firm began offering its customers long-term insurance businesses of group, endowment, and mortgage life insurance policies.

Bunna Insurance had initiated the bidding process to acquire a core insurance system before the central bank issued the edict.

Senior executives of Bunna Insurance have selected Amity Software to provide centralized, online, real-time, electronic insurance solutions, known by the industry’s lingo as a CORE. Amity’s system is expected to interconnect all 33 branches, 19 of which are in Addis Abeba. Amity Software has been selected among ten other companies including Turnkey Africa, a Kenyan-based solution provider and Beyontec, a US-based firm that had responded to the tender.

“We’re preparing to participate in other bids,” Anil K. Saxena, Managing Director of Amity Software, told fortune.

Bunna Insurance hopes the automation will enable these clients easy access to information on premiums and policy renewal procedures. The client can also file claim requests remotely, says Dagnachew Mehari, CEO.

Amity Software Core Insurance Solution brings advanced and innovative capabilities that will help support all of Bunna Insurance’s lines of business. This strategic investment will further speed to value, accelerate their transformation strategy and position them for future growth and flexibility.

“We are thrilled to partner with Bunna Insurance and help them accelerate their business transformation journey with our modern, innovative core insurance solution,” commented Rajesh Kumar, Head of Projects at Amity Software. “Amity Software offers innovative capabilities, out-of-the-box content, a robust ecosystem of pre-integrated partners and a flexible configuration that directly aligns with Bunna Insurance’s vision of creating a new business operation geared toward the needs of a rapidly changing commercial market and digital-savvy customer.”

Amity Software Systems had deployed its technologies in other African countries, including Kenya, Ghana, Nigeria, and Rwanda. The 36-year-old IT firm is familiar with the Ethiopian market.

About Amity Software

Amity Software provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.