The Digital Innovation Award - SwiftAnt FZ LLC

1. Digitalization
in Insurance

2. Founded in the US in 2007
Global
Delivery
200 + success
stories
Over 12 years
of Experience
Published by Microsoft 13th May 2020
https://customers.microsoft.com/en-us/story/814642-akinsure-
professional-services-azure-kenya-en

3. Africa Success Story
Successful implementation of D-MVIC platform
(Digital Motor Vehicle Insurance Certificate). Scope includes:
• Digitalization of end to end processes in ecosystem related to
Insurance Certificates (Kenya has 2.2 M vehicles and 6k brokers)
• Apps for Brokers (to issue certificates), Police (to Verify certificates)
• Laying foundation with BlockChain
• API integrations with all 37 Member insurance companies
• End user training, Exhaustive Documentation
• Managed services (Infrastructure, 24*7 monitoring and Support)
Testimonial
After the success of IMIDS, The
Association of Kenya Insurers (AKI)
also awarded SwiftAnt the opportunity
to develop another initiative whose
aim is to “Digitize” the end-to-end
processes associated with motor
vehicle insurance certificates. This
initiative has had transformational
benefits to the entire motor insurance
underwriters in Kenya. They have
delivered the solution On-Time, with
high degree of quality and added
significant business value throughout
the process.
Watch the video (Testimonial by the Exec Director):
https://vimeo.com/484014423

4. The Vehicle Insurance Stakeholder Ecosystem
DiMVIC Platform
Secure & Web Based
Request/Allocate/Manage/
Generate & Issue
Certificates and all MIS
Reports
Certificate Generation &
Issuance App
Generate, Issue Certificates
and Reports
Certificate
Verification
USSD
App Based with
Registration
Web Based
Anonymous
(With Phone OTP)
For Insurers
Association (ex
AKI/UIA/IAZ) /
Insurance
Companies
For Brokers and Agents
For anyone
App for Certificate Generation
(Brokers / Agents / Insurance companies)
App for Certificate Verification
(anyone with no restrictions)
Core Stakeholders
• Insurers’ Association
• Insurance Companies
• Brokers / Agents
• Insured Personnel
Governing Bodies
• Insurance Regulatory
Authority
• Ministry of Transportation
• Police
Others
• Reinsurers
• Brokers
Association
Easy verification via App and USSD – Videos-
https://vimeo.com/484015002
https://vimeo.com/484015702

5. Our work with NTSA in the news
Watch the video - https://vimeo.com/484014540
Police sensitized in Kenya with the SwiftAnt Solution

6. Digital Certificates; Advantageous and
improving security with integrating to Speed
guns and Security cameras
FEATURE Physical Certificate
Digital Certificate
Certificate Procurement
Importing the Physical, Secure
Paper based certificates
Completely digital
Allocation and Distribution of
Certificates to Insurance
companies
Manual Processes intensive, requiring
Insurance companies’ personnel to visit
Insurers Association to collect & brokers
to visit Insurance companies
Completely digital
Certificate Administration &
Management - Stock Control,
Inventory Management, Issuing
Process and Audit
COMPLEX & TIME CONSUMING
Secure Storage and inventory control
needed at 1000s of places (and several
branches of every broker)
EASY & QUICK
Inventory at every stage
is transparent. Online
Vault storage,
easier to manage and
administer
1. Picks the number plates through the camera
2. Connects to DiMVIC Platform
3. Authenticates if the Vehicle has Insurance .

7. Relevance of DiMVIC in current times
• Insurers have an opportunity to digitize end to end
consumer acquisition process and claims reporting
• Proactive Fraud Prevention: exceptions like
Double Insurance are instantly detected.
• Process Efficiency: Manual handling of certificates
and storage, tracking physical inventory & losses is
eliminated.
• Instant Verifications & Communications: Anyone
[Police, Insured / anyone] can instantly verify the
proof of insurance with one scan / USSD. Not
possible in current model.
• Blockchain (foundation will be laid) & extendable
to all Insurers: The entire transaction is captured in
the Blockchain node. Insurers can extend with this
node and such an approach will establish
“immutable TRUST” in the entire industry.
• Cost Savings [70% - 75% or above]Direct:
Approximately 50%+ when compared to printed
certificates.Taxes & Duties: 100% as no import of
certificates is involved.Indirect: 8-12% on Inventory
holding costs + ~5% on Process efficiencies
• Proven Solution: Proven solution at AKI
(Association of Kenya Insurers, Nairobi)

8. Real time Inventory Tracking
Certificate Lifecycle
Broker Level Inventory

9. Clear ROI; huge cost savings recorded by the
Kenyan Association

10. Digital Certificates; the numbers are telling
13168
816
87871
5736
112180
372871
19951
41504
327
0 100000 200000 300000 400000
Class A - PSV Unmarked
Type A - Bus
Type A - Matatu
Type A - Taxi
Type B - Commercial Vehicle
Type C - Private Car
Type D - Motor Cycle
Type D - PSV
Type D – Motor Cycle Commercial
Digital Certificates Generated by Vehicle Type
11354
22268
45160
72410
136310
189868
174257
0
20000
40000
60000
80000
100000
120000
140000
160000
180000
200000
Dec-19 Jan-20 Mar-20 Apr-20 Jun-20 Aug-20
Digital Certificates Generated By Month in 2020
Total Certificates Generated with DMVIC
Platform in Kenya: 651,627 (since Jan 2020)
AKI progressively adopted certificates by
Vehicle class.

11. Bulk Issuance – Easy onboarding for fleets of
buses and ensuring safety for bodabodas
Output File
0
2000
4000
6000
8000
10000
12000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Monthly increase in cover 2020
Bus Bodaboda

12. Working at the grass roots- Increased insurance
coverage for Matatus and Taxis in Kenya
0
50000
100000
150000
200000
250000
300000
350000
400000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Monthly increase in cover- 2020
Matatu Taxi