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Nib Insurance Company signed an agreement with Techno Brain Global FZE on February 24 to upgrade its core insurance service system employing a state-of-the-art software, Genesis Configuration, which is made by the Indian CMA Ltd.
Techno Brain, a worldwide agent for CMA Ltd., will install the software in the coming 14 months. The automation scheme makes service delivery faster in the underwriting, claims, reinsurance, intermediaries, finance and management information system streams allowing swift communication.  
“Over the last 15 years, NIB Insurance has been a trusted insurance provider to different business in the country. Taking into account our growth plan, we wanted to ensure that we had a dependable general insurance system to automate our existing operations which allow us to offer our customers instant insurance services more efficiently. After reviewing solutions from various vendors, we chose Techno as it is not only feature-rich but also offers us scalability as well,” says Hailemariam Assefa, General Manager of Nib Insurance Company.
“As part of this deployment, we will also be implementing Techno Portals to extend a web- based presence covering our agents, brokers and customers. We are confident that Techno will help us streamline our operations, enhance our business processes and help our growth and expansion plans,” Hailemariam added.
CMC. Ltd., an information technology solutions and services providing wing of Indian-based TATA Group supplied the high-tech core insurance system software – Genesis Configuration.   CMC is well known for a wide range of multi-faceted services it offers in the IT domain.
Mekonnen Tesfaye , Country Director of Techno promised to install the software by the agreed  time.
“We are glad that NIB selected us among the six companies who participated in the bid. The new software creates a chance to load any new information quickly, plus it fastens communication and we hope we will finish the project working closely with the company.”
NIB insurance company was founded in 2002 and currently it has a paid capital of 186 million birr. A group of 935 shareholders own the business that has 27 service outlets.