Issue 8 2020

Jun20231 Issue 8 2020 11 Imatic Technologies Limited (ITL) is a software development company headquartered in Tanzania. However, in the years since its inception, ITL has expanded its horizons to serve the greater African continent with cloud software solutions in the Insurance and ERP Domains. Established in 2011 in Tanzania, ITL has since expanded its services to Kenya, Zambia, Rwanda, Zimbabwe and Malawi with a decent market share in each through its innovative use of cloud software services. With special interest in the insurance industry, the company has contributed significantly to insurance companies across the market in creating better, more efficient broker connectivity and premium payments. Unlike other international markets, where every insurance company has their own portal to connect with their insurance broker, ITL and its flagship platform “Smart Policy Platform” has created a robust insurance ecosystem, whereby insurance brokers - on a single sign-on - can perform real-time policy booking with any insurance company. The success of the platform lies in the relative lack of any real, workable alternatives in the countries that ITL operates in. But, for Tanveer, Smart Policy Platform wasn’t about merely addressing a hole in the market – it was about offering a ‘best in class’ service that went beyond the expected. In this, ease of use was paramount: the platform is connected with the payment gateway to facilitate the customer in paying the insurance premium over mobile, master card, visa card or bank deposit directly to the insurance company. Moreover, as it is online, the policy is issued instantly without any delays, with the platform connecting to the heterogeneous insurance company system. A key indicator for ITL’s success lies in a single impressive statistic, as Tanveer explains. “The platform has achieved 99% insurance market penetration in Tanzania and has revolutionized the way insurance is sold in the country.” Crucially, the Smart Policy Platform provides both b2b & b2c capabilities to the insurance market, which enables insurance companies and insurance brokers to sell insurance over portals, websites, Mobile Apps & USSD, offering a vital opportunity to tap directly into the micro- insurance space. The company has also launched Africa’s first ‘Unified Business Platform’ for SMEs called Best Cloud Based Solutions Provider - Tanzania “Smart Pay”. Ultimately, this platform has big aspirations to leverage established cloud technologies to take advantage of mobile computing, Artificial Intelligence and Big Data to help organizations to monitor and control their processes, with the goal to make them more efficient and compliant. All in all, ITL has a bright future ahead of it indeed, driven by Tanveer’s ambition in the African market. Company: Imatic Technologies Limited Website: “ITL drives with a mission to deliver sophisticated software systems in the most cost-effective way using Cloud technologies” “Our vision for Smart Policy Platform was to make complex operation simple and cost effective, so that we can involve various stakeholders of the insurance industry working together towards common cause of serving end consumers effectively.” - Tanveer D.K., CEO Board of Directors