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Ethio Life Enters Deals with US Beyontec

Apr 3 , 2021

An American tech firm and its Ethiopian partner landed a deal to provide a solution to Ethio Life & General Insurance S.C. (ELiG). Beyontec Suite, a US-based insurance technology solutions provider, agreed to provide its technology to Ethio Life, which hopes to use the full range of its products online. Managing high-quality risks and improved customer engagements is what executives of Ethio Life hope to gain from the deal. Beyontec partnered with Moti Engineering Plc, an information and communications technology provider in Ethiopia. “With Beyontec’s expertise in transforming IT in insurance, we're confident that this partnership will accelerate the modernisation of insurers in Ethiopia and strengthen our digital portfolios,” said Abdulhamid Mohammed, managing director of Moti. Ethio Life registered 25.9 million Br in net profit last year, marking a 10pc growth, and boosted its paid-up capital to 122 million Birr.

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