Kenbright Actuarial and Financial Services Limited (“KAFS”) has partnered with one of the largest global financial products and services provider for the distribution of FIS products in Kenya and Tanzania.
This partnership between FIS and KAFS is expected to bring best-in-class automation and financial reporting for Insurance Companies & Commercial Banks in the East African market.
The relevant FIS solution for insurer is Prophet, a leading enterprise-wide actuarial modelling system that
helps insurance and financial services companies meet reporting responsibilities, improve risk management, and develop more profitable products faster.
Prophet uses customisable actuarial libraries for all major product types, including regional variations. It provides the transparency, performance and control required by today’s actuaries and risk managers through integrated financial modelling and data management capabilities.
In addition to its core risk management capability, FIS Prophet offers a comprehensive end-to-end IFRS 17
solution providing improved data management, processes and governance. Prophet suite of solutions has been updated to tackle all of the challenges that insurers will encounter along the way, across life, health and general insurance.
FIS is uniquely placed to help insurers through the transformative journey to compliance with IFRS 17 and make sure they get true business value out of the reporting standard. It is a leading provider of technology solutions and services for capital market, banks and merchants and a Fortune 500 company.