Turnkey Unveils TurnQuest Marine Insurance Portal for Insurers and Brokers
| date: December 20th, 2016
Press Release – Nairobi, Dec 15, 2016: Turnkey Africa today officially unveiled its online marine insurance platform – TurnQuest Marine – accessible to all insurance companies and brokers. The portal is a cloud-based service designed within a broader system of applications specifically developed by Turnkey for insurance businesses. It also capable of integrating with Kenya Revenue Authority’s Simba System and the National Electronic Single Window System (TradeNet) operated by Kenya Trade Network Agency (Kentrade).
Speaking when he presented the new portal to players in the insurance sector, Turnkey Africa Chief Executive Officer Kizito Makatiani said that the portal will save players hundreds of millions of shillings in capital expenditure invested in company – owned systems and enable them to move with speed to implement the product for their clients as the import business is very time sensitive.
“Kenya has slightly over 50 insurance companies and about double that number of brokers. With the new law taking effect they all need a system that they can easily register into, access from as many locations as possible, integrate with their own existing processes for payments and finally deliver a seamless service to both importers and the agents involved in the whole value chain,” said Makatiani.
He said that Turnkey Africa’s TurnQuest Marine Portal is also usable by insurance brokers who are able to compare the quotes from various insurance companies and deliver the best to their clients. He cautioned that marine insurance is very critical for successful international trade and it will be paramount for insurance companies and brokers not seen to be introducing a new non-tariff barrier in the process of implementing the new law.
“We see a successful rollout of this marine insurance requirement as a very collaborative process that needs to involve the clearing and forward agents, insurance intermediaries, the regulators and all government agencies,” added Makatiani.
Makatiani noted that with the growing use of technology by insurance consumers, insurance companies and brokerages are increasingly seeing that investing in new technology to support services is a defining competitive edge.
“While this may be true to a certain extent, the perpetual state of flux that changes in technology and consumer knowledge, influences behavior will continue dictating that firms resort to outsourcing core technologies and sharpening their customer service and relationship management capabilities. Investment in this type of technological service is the way forward for them,” he noted.