25 October 2016
Visit www.dh.com

BSB Solife helps establish micro-insurance in West Africa

20 September 2012  |  1365 views  |  0 Source: BSB

The African association Confédération des Institutions Financières (CIF)/West Africa has selected BSB's Solife policy administration software in an important new micro-finance programme to help low-income families in Africa.

Solife will be used to provide the association's members with a flexible and powerful tool for developing a range of micro-insurance life products. The Burkina Faso cooperative will be the first to implement Solife, scheduled for completion before the end of 2012.

CIF has the support of ADA - Appui au développement autonome - a Luxembourg-based NGO active in micro-finance projects across Africa. This initiative is a major step for the African micro-finance movement, which can now offer low-income families access to savings and insurance products that are tailored to their situation. Solife was selected on the basis of its extensive functionality, with CIF's partners particularly impressed by the solution's end-to-end coverage of a policy's full life cycle, as well as by its product workbenches. These are designed to simplify and, therefore, speed up the launch of products at a reasonable cost.

"It is a privilege for BSB to be involved in a project, which provides hope and protection to impoverished people, who can now protect themselves better against some of the adversities of life," said Jean Martin, CEO, BSB.

The CIF organisation plans to implement the software at four further savings cooperatives in the near future - in Mali, Benin, Togo and Senegal. It also intends to offer insurance products to its entire client base, which numbers more than 1.6 million in Western Africa. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Find out more Find out more

Top topics

Most viewed Most shared
Visa treads on Swift's toes with blockchain pilot for high value paymentsVisa treads on Swift's toes with blockchai...
8773 views comments | 33 tweets | 38 linkedin
Monzo raises £4.8mMonzo raises £4.8m
8598 views comments
Visa tells Europe to be ready for 3-D Secure 2.0 by April 2018Visa tells Europe to be ready for 3-D Secu...
7901 views comments | 12 tweets | 27 linkedin
CBA and Wells Fargo combine blockchain and IoT to revolutionise trade financeCBA and Wells Fargo combine blockchain and...
7861 views comments | 26 tweets | 28 linkedin
The payments cake is growingThe payments cake is growing
7803 views comments | 6 tweets | 11 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job