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Autumn 1999
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Financial Information Technology Limited (FIT), the leading provider of client-server group life assurance systems, has announced the launch of the first line of E-surance products providing international internet-based group pension fund administration services. FIT will provide service through its application support platform, FITASP.NET. Developed from FIT’s flagship product, LIFEfit, which is installed in 15 companies around the world, FITASP.NET is the next generation of insurance policy management.
FITASP.NET and E-surance provide, via the internet, insurance specific functions which help companies cost-effectively administer a wide range of life assurance and group pension products. E-surance provides flexible product definitions, data capture, accounting reconciliation and reporting and fund management information. In addition, E-surance provides an internet-based enquiry facility for clients and brokers to view either individual account or management information.
ZIGI Insurance Company Limited (Zambia) is the first company to subscribe to the FITASP.NET services. ZIGI is a leading provider of group pensions, with schemes of up to 40,000 members, for most major companies in Zambia including the major banks, the Government, and the copper mines. ZIGI will use the full range of E-surance facilities to provide a sophisticated distribution mechanism and provide flexible investment options for the individual pension scheme members.
Mr S Konie, Chairman and Chief Executive of ZIGI, said: “We [ZIGI] are a local company that is supported by international expertise. A company providing such expertise is FIT... the beauty of their product lies in the flexibility of both group schemes and the method by which they are administered.”
Financial Information Technology through FITASP.NET is committed to reducing the administrative overhead for group and life assurance by using the internet to distribute ‘information’.
Specialising in unit-linked investment products and group insurance products, the services available through FITASP.NET allow companies to launch new group and life assurance products without the capital expenditure to develop new systems.
Financial Information Technology LtdLast Updated: 08 December 1999