Heritage Insurance, one of the top five insurance carriers in terms of profitability in Zimbabwe, has signed an agreement with Agile (News - Alert) Financial Technologies, a leading player in banking, financial services and insurance, to implement its software, AGILIS Core Insurance.

Heritage Insurance decided to sign the agreement after an extensive evaluation process that included detailed workshops and site visits to existing clients of the software.

'We chose Agile FT over other vendors due to the availability of local support, rich functionality, integrated accounting package, reasonable pricing and a credible management team. We believe that the new system will help us achieve reporting flexibility and consolidation of accounting figures, which are one of the most challenging areas for us today,' John Mungure, Managing Director of Heritage Insurance said at the signing ceremony. Mungure added that the new investment in Technology will help the company deliver better customer service, new product development and broker-on-line underwriting services.

Kalpesh Desai, CEO, Agile Financial Technologies said, 'We are honoured to be appointed as Heritage Insurance's technology partner and are committed to the successful deployment of our project on-time, within budget and look forward to exceeding their expectations.'

Heritage Insurance is poised for growth and was desirous of laying a technology foundation that would seamlessly integrate all business functions including client acquisition, underwriting, reinsurance, claims, accounting and extensive reporting.

'This confirms yet again that Agilis is the right technology backbone, with the scalability and flexibility to match the growth pace in emerging Insurance markets. We are confident that our partnership with Heritage will give them a competitive edge, help them grow their business and provide customers with an innovative insurance service experience,' said Munya Mateko - CEO - FinSys Zimbabwe who is Agile FT's partner for Southern & Central Africa.

Agilis Core Insurance Software will create the technology foundation for Heritage Insurance's growth strategy and will provide a modular, web-based platform integrating the entire business cycle from underwriting and claim management to reinsurance and accounting.

In June 2009, Agile Financial Technologies added microfinance capabilities to its product stack. Agile FT signed an agreement with India-based Theme Technologies that would enable Agile FT to acquire Theme's Micro-Finance, Micro-Credit and Credit Management product stack, in an earn-out mechanism over three years.