Resources

Trusted as the prime source of feature-rich insurance management systems, Cardinal offers fleet business insurers a new standard for high-performance administration software.

Having relied on Cardinal as its core insurance system provider for over 20 years, RBS is one of Cardinal’s longest-standing clients and considers Cardinal a valued partner, not just a reliable supplier.

Value-added services can assist insurers in increasing profitability, owning the customer interface, and reinventing product offerings. To reap these benefits, licensed FSPs selling value-added short-term insurance products, however, must have a clear view and understanding of their firm’s data in order to navigate a world of new and complicated risks effectively.

Cardinal has established a new standard for high-performance insurance administration software. However, could the company meet the core, data, and digital requirements of Efficient Insure (previously known as Galileo Risk Insurance Solutions), one of South Africa's leading independent insurance brokers?

Insurers with more sophisticated IT skills enjoy a clear competitive advantage in terms of agility, growth, and cost ratios, and are better positioned and equipped to meet the growing demand for digital solutions. Technological breakthroughs are transforming insurers from the inside out.

Business Intelligence (BI) tools encompass a range of software applications and technologies used to gather, analyse, and present data to support decision-making within a business. In the insurance industry, BI reports and data tools play an important role in improving the accuracy of insurance claims management. These tools allow insurers to systematically gather and interpret large volumes of claims data, providing insightful analysis and visualisations.

In today's fast-paced and technology-driven world, the insurance sector is increasingly leaning on digital advancements to enhance operational efficiency and manage costs effectively. The mounting pressures for speed, convenience, and cost-effectiveness in insurance services have found a reliable ally in technology.

Data analytics has transformed how the insurance industry approaches risk assessment, revolutionising how insurers evaluate and manage possible risks. The advancement in technology and insurance management solutions enables insurers to examine massive amounts of data, including customer profiles, claims histories and marketing trends.

In line with POPIA regulations, Cardinal’s pre-built functionality caters for data retention and destruction, password encryption options, and the approval of newly loaded banking details.

Today’s insurers face far greater challenges than ever before. They need to be prepared for major catastrophes that could devastate their customer base, as well as big financial losses due to cyberattacks or natural disasters.

Digital transformation is gaining traction and is a term that you have most likely already encountered. It has, in some way, transformed just about every industry, and the traditionally slow to modernize insurance industry is no exception.

A legacy system is one that is considered to be out of date in terms of technology or software, but still used by insurance firms, as it serves the purposes for which it was created.