Askari Fintech has launched the first online Insurance distribution solution in Mozambique which is set to facilitate the distribution and management of insurance products as well as reduce administration costs, fraud, credit risk, bad debt and costs to Consumers.
The technology according to Askari executive Chairman has taken seven years to be fully developed. It is expected to promote trust and confidence between Insurers and their Clients and will be rolled out to Angola, Botswana, Democratic Republic of Congo, Zambia and Zimbabwe later this year. Despite its tremendous benefits, online distribution platforms and blockchain technology has been slow in most African countries financial services sectors. This is possibly due to the high costs associated with writing code and gathering data which is time consuming and expensive.
The launch in Mozambique follows extensive experimentation and testing of the software which resulted in a build-up of more than $200,000 worth of income to date.

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