SA Taxi Protect, an independent financier for South Africa’s minibus industry, has tapped insurtech Sapiens International to drive growth.
The South African firm has implemented Sapiens IDITSuite for Property & Casualty. The deployment was wrapped up within one year.
The move aligns with SA Taxi’s strategy to offer insurance to finance entrepreneurs operating minibus taxis that may not have access to bank credit.
Sapiens believes that IDITSuites’ high degree of functionality and seamless deployment proved ideal for SA Taxi.
The selection of the solution was said to be based on the “quality of its offering and component-based, standalone software solution”.
According to Sapiens, IDITSuite will streamline policy issuing, taxi financing, insurance claims forms and other existing processes.
SA Taxi insurance executive director Riek Olivier said: “SA Taxi Protect is gearing up for strategic growth, as we look to enhance our position in both consumer and broker markets, improve speed to market for new products supported by agile pricing, increase operational efficiencies and reduce operational risk.
“We chose Sapiens as our technology partner to achieve these goals and to benefit from new digital capabilities, especially IDITSuite’s fast launch and flexible pricing capabilities. The collaborative implementation process was completed on-time and within budget.”
Notably, in October 2019, Sapiens signed an agreement to buy Cálculo, a seller of insurance consulting and managed services.
The deal marked the entry of Sapiens into the Spanish and Portuguese markets.