Intelligent CIO Africa Issue 01 | Page 77

INTELLIGENT BANKING & FINANCE Frost & Sullivan recognises South Africa’s Instant Life Based on its recent analysis of the life insurance industry, Frost & Sullivan recognises Instant Life with the 2016 South Africa Frost & Sullivan Award for Customer Value Leadership. Instant Life is a low-cost, automated life insurance model that addresses the growing need for pure-risk life insurance. It offers cover for life, medical gaps, and funerals, as well as for people with work disability, critical illnesses, and cancer. Its paperless processes simplify claim processing by assessing the risk of a potential customer through an adaptive, computer-generated questionnaire based on applicants’ previous answers. As it is an online process, Instant Life’s platform is su