Ethio-Re signed a license and implementation agreement with SAP East Africa Limited and msg Global Solutionsto fully automate its core reinsurance operations and financial management system on Tuesday, 13 November 2018. The purchase of License has been concluded with SAP East Africa Limited whereas the implementation agreement has been made with msg Global. The latter shall be responsible for the implementation of both systems over 9 months period.
Ethio-Re is automating its core processes to enable it deliver superior services to its customers using state of the art technologyconcurrent with the expressed ambition of its founders to have a highly competitive Company capable of providingadequate and reliable reinsurance protection both at home and abroad. Successful implementation of the project means that the Company will be able to automate its main business processes whereby all technical and financial transactions are captured and processed more efficiently and accurately, not to mention the enhanced capacity that the system brings to conduct complex risk analysis and pricing capability.
The Reinsurance SOFTWARE covers the complete reinsurance life which offers an accelerated template-based implementation for Reinsurance Solutions including: SAP Business Partner, SAP FS-RI system, SAP FS-CD and SAP GL. The scope of work is, therefore, to acquire and implement a Reinsurance Management Software that supports all lines of business – property & casualty, long term (life), medical as well as both inwards/assumed and outwards/ceded reinsurance business processing. Ethio Re. is also keen on realizing process improvement and efficiency as a result of the implementation of these solutions. The procured Reinsurance Management Software is expected to support all aspects of reinsurance transactions related to general reinsurance, long term (life) reinsurance, reinsurance accounting and general ledger applications.
The companies were selected through open tender floated for eligible suppliers from both local and international market and the implementation of the project is expected to start soon.
Front row (left to right) :Ato Yewondwosen Eteffa, CEO, Ethio-Re and Mr. Josef Kerschensteiner, Member of Executive Board Region Europe and Africa
Back row (left to right): Ato Mesfin Wolle Manager, IT services, Ethio-Re and Mr. Agostino Assi, Managing Director
The implementation of the project will start soon upon completion of the network infrastructure.