Nib Insurance Company integrated its head office and 42 branches with a core insurance solution system called GENISYS Configurator on March 29, 2019. The company invested 28 million Br in the hardware, software and network installation. The system improves efficiency, reduces claims settlement turnaround time, provides uniform service delivery, and ensures data accuracy and availability, according to Zufan Abebe, CEO of Nib Insurance. The 17-year-old insurance company started the project in June 2015, and selected Tata Consultancy Services and Technobrain FZE after launching an international bid to administer the software, while a local company, United System Integrators, installed the hardware. The core system uses IT equipment such as high-end servers, optical storage, tape libraries and high-speed network connecting devices. Nib’s gross written premium has grown to 478 million Br in the last fiscal year. Its profit was 67.3 million Br.
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