ESKDENIA Software enters the Egyptian Takaful insurance market
17/06/2009
ESKADENIA Software, Amman, Jordan, June 2009

The ESKADENIA systems to be deployed for Egyptian Takaful are designed to automate the General and Life Insurance lifecycles, reduce operational cost, speed up work, maintain historical data and ensure a high level of security. The systems automate and accelerate the processes of creating quotations and issuing policies, as well as managing all reinsurance, endorsement, claim and renewal transactions with full adherence to Takaful and Sharee’a requirements. The Life Insurance system will also cover group and individual Takaful insurance, whereas the General Insurance system will cover underwriting for all classes of business.

The ESKADENIA comprehensive software package will provide a collaborative environment for information management across the company’s departments and will allow users to capture up-to-the-minute information whenever required. Moreover, the systems will support real-time integration with the financial modules of ESKADENIA® Business Manager, including the General Ledger, Accounts Payable, Accounts Receivable, Human Resources and Payroll modules to maintain the needed financial information and accounts updates.

The software package also provides users with advanced up-to-date reports and statistics to analyse operational performance and make proper decisions.

Developed using Microsoft .Net technology and residing on Oracle Database, the web-based systems will allow Egyptian Takaful employees to define insurance products, manage production, 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.

“Egyptian Takaful’s mission is to be the first Insurance Company to provide Takaful Insurance services in Egypt, and in order to achieve our mission, the availability of an advanced IT system in the company is a must. That’s why we chose ESKADENIA Software to build up this system considering differences between Takaful and other commercial systems. We are very pleased to cooperate with ESKADENIA in this project and we are waiting to start operation” said Amr Ebeid, Chief Technology Officer at Egyptian Takaful Company.

“This marks the first project for ESKADENIA Software in the Egyptian insurance market and we are very pleased to start with Egyptian Takaful. Our software systems have been enriched with the largest set of advanced insurance functions in the local and regional Insurance practice providing Egyptian Takaful with a strong start for effective operation and customer service. We do hope that this would be just the beginning of many further projects in this new market”, said Shadi Saadeh, Sales Manager for Enterprise & Insurance Products at ESKADENIA Software.

About Egyptian Takaful Insurance Company

Egyptian Takaful Insurance Company is an Egyptian shareholding company specialized in life and possessions Insurance with full adherence to the Sharee’a requirements; all of its insurance activities are subjected to the Sharee’a Supervisory Authority. Egyptian Takaful Insurance Company gains its confidence from its distinguished experience in the Insurance market; the company has strong integration with and continuous support from leading Egyptian banking institutions.

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 85% of its sales are exported to the Global 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 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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