CodeConnexion launches software for individualised insurance plans

CodeConnexion (Pvt) Ltd. is launching a modern software package that can be used by insurance companies to offer insurance plans suitable to individual customers.

The new product, named ‘NonLife.net,’ is being introduced in partnership with Danish software company Edlund A/S and handles all internal core processes relating to general insurance in an insurance company.

“This is the first time CodeConnexion is introducing a product to the Sri Lankan market. We believe that this software will widen the horizons of the insurance business in Sri Lanka,” said CodeConnexion CEO Chandima Mendis.

‘NonLife.net’ uses Danish technology which has successfully been used in Denmark, Iceland and Faroe Islands. “Several insurance companies in Sri Lanka have already showed their interest in ‘NonLife.net,’” Mendis said.

‘NonLife.net,’ a software system developed with latest technology in Denmark, handles all steps from the beginning to the end in general insurance. “This software will help an insurance company to handle a particular insurance policy from the first step of providing an offer to a customer up to the stage where the last payment is made to the insured,” Mendis said.

Software used by insurance companies at present generates common insurance plans for certain broad categories of customers. Under the present system, individualising the insurance plans depending on the needs of each customer is complicated. “Insurance companies with NonLife.net software can introduce unique insurance plans to each of its customers.

At present, insurance companies in Sri Lanka use either software developed by their own IT teams or expensive software bought from foreign software companies. A high licensing cost is also incurred when buying software from foreign companies. In addition, most of the existing software used in the insurance business in Sri Lanka is based on very old technologies.

In contrast, ‘NonLife.net’ will give insurance companies an array of advantages. “Insurance companies relying on foreign software companies incur both cost and time in getting even a slight modification done to their systems. ‘NonLife.net’ will not have this disadvantage because it is provided by a Sri Lanka-based company. In addition, ‘NonLife.net’ uses the latest Microsoft technology and is of enormous help when an insurance company is introducing a new insurance product. ‘NonLife.net’ will be ideal for new players entering the insurance business as well,” Mendis said.  

Supporting Sinhalese and Tamil languages in addition to English is another feature in ‘NonLife.net’. “At present most insurance companies issue their policy documents in English which causes inconvenience to some customers. ‘NonLife.net’ allows customers to enjoy their own insurance plan in the language they are most comfortable with thereby ensuring that the customer is fully aware of the conditions governing the policy.”

CodeConnexion is a Sri Lankan company co-owned by Asseco Denmark A/S. it has been providing application, development and support and maintenance services mainly for Denmark and several other Scandinavian countries since 2004.

The core competency of CodeConnexion is software development on the Microsoft platform. Being an IT service provider for the Scandinavian market which has one of the most advanced IT usage in the world, CodeConnexion has always maintained the highest standards in their products. CodeConnexion has a highly qualified and competent development team selected from the top software engineers produced by the Sri Lankan universities.

Developing a system for conducting online Annual General Meetings (AGM) of companies is one of the major achievements of CodeConnexion. The online-AGM system, which facilitates participation, questions and answers and voting, is the world’s first systems of this kind.  In addition CodeConnexion has developed a customer database system for one of the largest shipping companies in the world. It is also developing software for iPhone/iPad and Android devices for Danish companies. Further details about CodeConnexion can be obtained from www.codeconnexion.com.