Exergy helps insurers overcome the complexities surrounding Debicheck

First launched in 2017, the Debicheck authenticated collections process has been designed to combat debit order abuse – from companies that are processing invalid debit orders to consumers avoiding paying them by unfairly disputing these with their banks. Yet, it has been cumbersome and expensive to implement from an insurer perspective. This has resulted in a slow uptake and market cynicism that this is an effective system.

From a practical perspective, debit order mandates are electronically confirmed by end users with their banks on a once-off basis to ensure no amounts are deducted from their accounts without their approval.

“The lack of widespread adoption shows that the resources and systems required to effectively implement Debicheck are not seen as worthwhile. However, SilverBridge has made significant enhancements to Exergy that help make this a smoother process. Our clients can rest assured that the administrative aspects of Debicheck are taken care of, leaving them to focus on business processes such as training staff,” says Annalie Terblanché, product manager at SilverBridge.

Exergy automates the Debicheck mandate process for insurers who have already implemented it.

“Some of the work we have done for a Johannesburg-based client reflects our commitment to assisting companies on the difficult journey when it comes to Debicheck. Exergy will always remain relevant as we ensure it adapts to ongoing changes in compliance demands. Even though Debicheck only signifies a small proportion of deductions, having this support is essential for long-term growth,” concludes Terblanché.

About SilverBridge

SilverBridge has over 24 years’ of experience as a leading provider of insurance software solutions in the African financial services industry. Our footprint extends to 14 African countries. SilverBridge’s digital insurance suite allows financial services companies the opportunity to respond quickly to changing markets. With customers throughout Africa, SilverBridge has the knowledge, experience, and technology capabilities to help its clients do better business.

Hollard Partner Solutions joins forces with SilverBridge for its core insurance system Exergy

SilverBridge has entered into a contract with The Hollard Life Company to implement the Exergy cloud-based policy administration system for the Hollard Partner Solutions business, a division of the well-known South African insurer.

“Our organisation has worked with the Hollard group for a number of years now and has been part of assisting the organisation with its expansion into Africa. This has been an operational success and enabled significant improvements and now the Hollard Partner Solutions business has engaged us to do the same,” says Lee Kuyper, COO at SilverBridge Holdings.

Fundamental to the decision to move has been the advantages the cloud can provide insurers in the digital landscape. This includes an effective environment to test and deploy new technologies, enabling insurers to innovative quicker in a highly competitive environment.

“Like most insurers, Hollard wants to position its business for a digital world. Our experience in doing this for other customers and our close relationship with global technology leader Microsoft has given us a further edge to any competitors in the market. But for us, it is not just about finding the perfect technology fit, but providing value to our customers. They understand the technology and how to effectively adapt it to suit the unique requirements of our customers, and how to engage with the people at our clients in a way which builds trust and confidence that we will be there for them whenever they need us,” says Kuyper.

Using Exergy on the Microsoft Azure cloud will help Hollard Partner Solutions modernise its core insurance system. It will give the organisation the ability to not only scale according to customer requirements but embrace emerging technologies to deliver significant value to end customers.

“The project will be done through a phased approach to ensure all policies are effectively migrated and the Hollard team is equipped to use the Exergy platform optimally. Even though any insurance system migration is a complicated process, the established SilverBridge relationship and track record with Hollard does make it much smoother. Change management is vital for a project of such magnitude, and Hollard has committed a number of resources to assist in the smooth transition. Our experienced consultants also provide Hollard with the comfort that our people will be with them every step of the way. We have more than two decades experience in the insurance industry and our people are our most valuable asset to help leverage the value to be had from technology investments in a digitally-led business environment,” concludes Kuyper.

“Hollard Partner Solutions are excited about the opportunities that lie ahead with Silverbridge because our IT philosophies are closely aligned. As we focus on digital transformation, the Exergy platform also plays a pivotal role in enhancing our online channels and processing capabilities,” says Duran Chetty, COO at Hollard Partner Solutions.

About SilverBridge

SilverBridge has over 24 years’ of experience as a leading provider of insurance software solutions in the African financial services industry. Our footprint extends to 14 African countries. SilverBridge’s digital insurance suite allows financial services companies the opportunity to respond quickly to changing markets. With customers throughout Africa, SilverBridge has the knowledge, experience, and technology capabilities to help its clients do better business.

SilverBridge to present at exclusive Microsoft partner event

SilverBridge has been selected as one of only 20 Microsoft partners to attend and present at a Microsoft Middle East and Africa (MEA) partners event on 15 and 16 October in Dublin. This sees the African provider of insurance software solutions be given an opportunity to showcase its offerings.

“SilverBridge has continued to work closely with Microsoft as a strategic partner. This has resulted in our insurance product suite, Exergy, being selected as a Microsoft Prioritised Co-Sell Ready solution for the MEA region. This influenced the decision to include SilverBridge at this event and is yet another exciting development with our partnership.” says Lee Kuyper, group COO at SilverBridge Holdings.

In addition to presenting their Co-Sell Ready offers and solutions, the event gives invited partners the opportunity to meet the Microsoft SMB and Corporate sales teams as well as participate in business exchange and opportunity-sharing sessions.

“With more than two decades’ of experience in the insurance technology industry, SilverBridge has continually evolved to deliver on market requirements. More recently, we embraced a cloud-first approach that aligns with what Microsoft is doing globally to ensure our customers in Africa are ready for the new digital age, and what it has to offer. Our partnership with Microsoft not only enables us to create the best technology solutions for our industry using their platform, but also to take these solutions to market together reaching a range of companies that offer insurance in the MEA markets.”

This is not only a great opportunity for SilverBridge to get exposure to several insurance companies and banks that Microsoft work with, but also to position the organisation to key senior people within Microsoft. Additionally, the Microsoft Corporate sales team will get an opportunity to better understand what SilverBridge has to offer in order to identify where their relevant customers have identified needs that match these solutions.

About SilverBridge

SilverBridge has over 24 years’ of experience as a leading provider of insurance software solutions in the African financial services industry. Our footprint extends to 14 African countries. SilverBridge’s digital insurance suite allows financial services companies the opportunity to respond quickly to changing markets. With customers throughout Africa, SilverBridge has the knowledge, experience, and technology capabilities to help its clients do better business.

SilverBridge launches AI division

In a move designed to enhance decision-making and provide its clients with an innovative way of embracing the latest technology innovations, SilverBridge, a provider of insurance software solutions for the African financial services industry, has launched its artificial intelligence (AI) division focusing on Merlynn’s Tacit Object Modeller (TOM).

“Given the amount of data available to insurers, it has become increasingly important to leverage it with meaningful insights and make more accurate predictions on everything from client risk to policy enhancements. Decision-making in the machine-learning space is largely a rules-based process and does not take intuition into account. TOM changes this,” says Johan Reyneke, Research and Development Executive at SilverBridge.

Essentially, TOM learns from human experts and not from data. It then applies the subject matter expertise based on the person’s experience to make decisions. This experience includes rules but also accounts for the ‘gut feeling’ or humanised decisions. From this, SilverBridge can introduce a virtual expert that aids customers with the decision-making process which can complement data analytics.

“SilverBridge does not want to replace the role of data analytics in AI but use the innovation enabled by TOM to complement it and give its customers the ability to make humanised decisions which is explainable. Unlike more traditional AI tools, TOM empowers an insurer to provide its customers feedback on why certain decisions were made around their policy. This can range from how premiums are determined to the outcome of a claim’s decision.”

TOM can be used to screen all short-term policies on renewal with the intention to reassess the risk associated to the policy or to identify the opportunities for cross or up-selling in real-time. Traditionally, insurers do not reassess all policies on their anniversary. Rather, a selected few flagged as risky. This is because the insurer cannot afford the human resources required to handle the sheer volume of policies to be assessed.

“So, not only do the risks need to be managed better, but also the opportunities that potentially exist must be capitalised on. TOM essentially virtualises the underwriter daily to enable the insurer to understand each of its policies better. In turn, this allows either upselling to take place or policy restructurings to be done more effectively.”

The SilverBridge AI division will therefore provide customers with more agile ways to enhance AI and machine learning in their organisations and capitalise on trends to make decisions faster.

“This intuition-based approach has the potential to fundamentally change not only insurance, but any industry that has been desperate to take AI to the next level,” Johan concludes.

About SilverBridge
SilverBridge has over 23 years’ experience as a leading provider of insurance software solutions in the African financial services industry. Our footprint extends to 14 African countries. SilverBridge’s digital insurance suite allows financial services companies the opportunity to respond quickly to changing markets. With customers throughout Africa, SilverBridge has the knowledge, experience, and technology capabilities to help its clients do better business.