South African market holds promise for cloud technology companies
Portland, ME, January 22, 2014 – ClaimVantage CEO, Leo Corcoran travelled to South Africa in November to participate in a trade mission organized by Enterprise Ireland, the Irish Government agency responsible for supporting Irish businesses internationally. The trade mission built on existing strong trade links between Ireland and South Africa.
ClaimVantage is an established Life, Disability and Absence claim management software provider in Europe and North America. It provides efficient, accurate, and productive claims processing solutions to a wide range of insurance companies, third party administrators and self-insured employers. Following strong growth in these markets it is now expanding into Australasia and South Africa. ClaimVantage has built a next generation claims management system on the Salesforce scalable cloud platform Force.com. This platform enables the replacement of traditional legacy systems at up to 60% less cost and in much quicker implementation time frames than traditional approaches.
Cisco and World Wide Worx released a study entitled “Cloud in Africa: Reality Check 2013” in November, 2013 indicating that cloud computing adoption is on the rise in Africa’s major economies, including Nigeria, Kenya and South Africa. Businesses in these economies are gaining confidence in both the security and reliability of the cloud. Almost two thirds of respondents expressed their confidence in the reliability of cloud technology, while almost 60% of respondents stated that they had high confidence in its abilities.
These predictions, along with Merrill Lynch research highlighting South Africa as one of three countries with a promising growth forecast over the next decade, suggest that South Africa is set to develop its use of cloud computing over the next few years. With only 10% of companies in this market currently using a SaaS model, this leaves a large part of the market open to investments in cloud computing in the near future.
Leo Corcoran’s November assessment of the South African market confirmed that there is indeed an appetite for next generation cloud based claim management systems in South Africa. As part of its strategy of growing its presence in South Africa and Sub Saharan Africa, ClaimVantage have appointed a local business consultant, John Murphy. John has spent over 30 years in the South African and Sub Saharan African Financial Services Sector. His experience includes insurance and IT systems development, implementation and operation. His past experience and passion make him a perfect candidate for this role.
ClaimVantage provides Absence, Disability and Life insurance claim management software products and services to its customers. Efforts are focused on providing efficient, accurate, and productive claims processing solutions to a wide-range of Insurance Companies, Third Party Administrators (TPA’s), and self-insured employers.