iNube & Southtech enter a strategic partnership to increase the outreach of innovative software solutions for the insurance sector in Bangladesh.
Bangalore, India : iNube Software Solutions, a leading provider of digital insurance solutions to the global insurance industry & Southtech Limited, a renowned ICT services provider in Bangladesh with excellence in software development, have entered into a strategic partnership to expand and increase the outreach of innovative software solutions for the insurance sector in Bangladesh.
With technology playing a key role in transforming countless commercial industries, digital transformation of insurance operations can help insurers to keep pace with the demands of customers and remain competitive in the global marketplace.
The iNube-Southtech partnership brings together extensive industry expertise with deep domain knowledge to support clients through successful digital transformation across the insurance value chain for product design, sales and distribution, underwriting and policy administration, policy servicing, claims management and reinsurance.
Elaborating on the partnership, Mr. Syed Mamnun Quader, MD and CEO of Southtech Group, said, “Bangladesh’s insurance sector is lagging behind other regional countries by big margins. With iNube, we are putting technology, expertise and leadership on the table to modernize, innovate, and build the future of the insurance sector in the country. iNube’s suite of products, which are highly configurable, are built on the latest micro services technology. Therefore, they can be easily and rapidly customized to suit an insurer’s exacting needs. Moreover, insurers who have already invested in a core insurance solution but does not have the modern digital add-ons at the field level can easily integrate them seamlessly through open APIs thus providing the best ROI an insurer can possibly get.” He added, “Southtech is an established CMMI Level 5 certified software company with nearly 25 years of national and international experience. We have a very strong and experienced customer support department and we ensure high levels of customer satisfaction. With this partnership, we are bringing the best-of-breed and best value-for-money insurance solutions to the industry in Bangladesh.”
“We are excited to be partnering with Southtech Limited,” said Mr. Ramprasad Sanjeevi, Executive Director, Sales & Marketing, iNube Software Solutions Pvt. Ltd. “We believe our partnership is a unique proposition for Insurance companies in Bangladesh, looking for technology solutions that can contribute positively to their business growth by enhancing customer satisfaction, reducing operational costs, and maximizing return on IT investments.” He further added, “As one of the biggest changemakers in the Bangladeshi ICT industry, Southtech Limited brings a proven track record of nearly 25 years in empowering the financial sector with software solutions and helping companies with high quality, timely, predictable delivery that ensures the best possible ROI. This partnership with Southtech will complement our strategic focus to bring our portfolio of solutions to the Bangladeshi insurance sector and continuously support customers to navigate the journey of digital transformation, while enabling them to focus on their core business.”
“As agricultural sector is an integral part of the country’s economy, our Agri-Insurance Platform can empower insurance companies to provide agriculture insurance products, under various government and non-government sector schemes to service and protect farmers from natural calamities. On the other hand, ClaimsLive Health, an end-to-end health claims management platform is tailored to the needs of the healthcare insurance sector enabling quick claim settlement turnaround time and enhancing customer-insurer relationship. Furthermore, when regulations in Bangladesh are eased to allow banks to sell insurance as distributors, AVO Bancassurance Portal can help pave the way to raise the insurance penetration with easy distribution of insurance products to the banks’ customer base.”
