“Sovereign Trust” Insurance Plc successfully implements ESKADENIA’s e-insurance package and software products
12/01/2009
ESKADENIA Software, Amman, Jordan, January 2009

The deployed General Insurance system has been built to meet the largest set of business requirements in the General Insurance field. The system has been designed to automate the General Insurance life cycles, reduce operational cost, speed up work, maintain historical data and ensure a high level of security. 

The new system provides a collaborative environment for information management across the company’s branches and departments and allows users to capture up-to-the-minute information whenever required. The system, in addition, integrates with the Financial and Human Resources modules of ESKADENIA® Business Manager to maintain the needed information and account updates. The package comes along with advanced Workflow, Document Management and Management Information systems to complete the automation of STI’s operations.

Developed using latest Object-Oriented programming language and Oracle Database, the web-based applications allow STI employees to define insurance products of multiple classes of business, automatically calculate rates and premiums through the rating engine, and run daily insurance transactions in an efficient and simple manner. Through the systems’ location-independent interface, the company can efficiently handle greater volumes of operations and smoothly manage work processes across a wide range of offices in Nigeria. 

The software package also provides users with advanced real-time reports and statistics in the form of charts, diagrams and management dash boards to analyse operational performance and support the decision making process.

At the inaugural launch of the software, the Managing Director of Sovereign Trust Insurance Plc, Mr. Wale Onaolapo, commented that “the migration from the current legacy insurance software to the ESKADENIA package is a proof of the management’s commitment to embracing cutting-edge technology in delivering world class services to their teeming customers”. He reiterated the fact that “the company had always been in the forefront of setting the pace in advancing technology in the insurance industry in Nigeria”.

In the same vein, the Head of Information and Communication Technology (ICT) of STI, Mr Lekan Oguntunde, stated that “The package is user friendly and very easy to grasp; our people are already getting used to it and so far, complaints have been minimal. We have also noticed remarkable improvement in the turn-around time and efficiency of our operations since we went live on ESKADENIA’s software package”.

On his part, Managing Director of Technology Bureau Nigeria, Farouq Omotayo, commented that “In addition to meeting all the functional specifications and technical capabilities as required by our customer Sovereign Trust Insurance Company, delivering a solution that will strategically position the customer as a market leader in the Insurance Industry was a key focus of the management. We were very impressed with the professionalism and expertise of ESKADENIA Software. The project team was highly experienced and committed to achieving all milestones as expected. All customer expectations were achieved in six months and within budget, thus making this project to achieve the fastest successful implementation of Enterprise Insurance Software in Nigeria so far”.

We hope that the successful launching of our software package at the leading Nigerian insurance company, Sovereign Trust Insurance, will be just the start of further cooperation between both companies”, said Nael Salah, Managing Director and Founder of ESKADENIA Software. He added, “At ESKADENIA we believe in partnering with our customers towards long-term relationships; we adopt our partners’ needs as our own and keep improving our software offerings to perfectly cater for the latest market trends and demands”. 


About Sovereign Trust Insurance

Sovereign Trust Insurance Company Plc commenced business in year 1995 following the acquisition and recapitalisation of the former Grand Union Assurances Limited.

The company is wholly owned by Nigerians with institutional investors forming part of the shareholding. The company is licensed by the Federal Government of Nigeria to underwrite general business and special risks.

Following the recapitalisation exercise, the company merged with three other insurance companies namely Coral Insurance, Confidence Insurance and Prime Trust Insurance. The company currently operates through a network of 22 branches with corporate Headquarters in Victoria Island, Lagos, Nigeria. 


About ESKADENIA Software


ESKADENIA® Software
is active in the design, development and deployment of a range of software products in the Telecommunications, Insurance, Enterprise, Education, and Internet application areas. The company is based in Jordan and has sales activities in Europe, the Middle East and Africa; more than 80% of its sales are exported to the Global ICT market. ESKADENIA Software is a product and market-oriented organisation that assists enterprises and promotes businesses by use of highly effective IT strategies, solutions and tools. ESKADENIA Software strongly believes that a company's achievement is based on the success of its Human Resources and the commitment to quality and excellence that each one holds strong to. ESKADENIA Software endeavours as a team to maintain quality and customer respect, build up perseverance, and foster innovation.

For more information, please contact Lina Hussein at PR_Communications@eskadenia.com, or visit our site, www.eskadenia.com
 
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