Evolutics
End-to-end insurance administration software for life, general, and health insurers across Africa
Overview
Evolutics Technologies is a core administration software provider for life, general, and health insurance carriers operating across Nigeria and the broader African continent. The platform was built by professionals with combined actuarial and insurance industry experience, targeting the operational and scalability challenges faced by insurers in underserved African markets.
The platform delivers end-to-end policy administration covering core insurance workflows -- underwriting, claims, billing, finance, document management, CRM, and actuarial analytics -- in a single integrated system. It includes IFRS-compliant financial reporting, multilingual support (English and French), and API-based configurability, positioning it for adoption across Anglophone and Francophone African markets. The system is web-delivered as a SaaS application with data-driven actuarial insights embedded in the core engine.
Evolutics raised a USD 250K pre-seed round in July 2022, co-led by Mercurial Advisory and Dubai-based Dinku Transnational. The company operates from its primary office in Lagos (Surulere) and a regional office in Dubai Silicon Oasis, UAE. It was recognized as one of the top five Nigerian insurtech startups by capital raised since 2021.
Products & Services
Life Insurance Administration
Core administration module for life insurance providers, covering policy issuance, premium management, claims processing, and regulatory reporting.
Key Features
- Policy lifecycle management
- Claims processing and adjudication
- Actuarial reporting and financial statement preparation
Target Users: Life insurance carriers in Nigeria and Africa
General Insurance Administration
Policy and claims management module for non-life (general/P&C) insurance providers, handling underwriting workflows and operations.
Key Features
- Policy issuance and endorsements
- Claims handling and settlement workflows
- Underwriting operations support
Target Users: General/P&C insurance carriers
Health Insurance Administration
Administration platform for health management organizations (HMOs) and health insurance carriers, with claims adjudication and compliance features.
Key Features
- Policyholder enrollment and benefits management
- Claims adjudication
- Regulatory compliance reporting
Target Users: HMOs and health insurance carriers
Finance Solutions
Automated financial management module providing IFRS-compliant financial reporting for insurance entities.
Key Features
- IFRS-compliant financial statement preparation
- Automated accounting workflows
- Regulatory financial reporting
Target Users: Finance teams at insurance carriers
Actuarial Insights
Data analytics module providing actuarial analysis tools for pricing, reserving, and profitability measurement.
Key Features
- Profitability analysis and customer KPIs
- Reserving and pricing support tools
- Data-driven actuarial reporting
Target Users: Actuarial and product teams at insurers
Customer Relationship Management (CRM)
Insurance-specific CRM platform for managing policyholder interactions, renewals, and cross-sell activity.
Key Features
- Policyholder interaction tracking
- Renewal management
- Cross-sell and upsell workflow support
Target Users: Sales and customer service teams at carriers
Process Management
Workflow automation module covering staff objective tracking, appraisals, and operational efficiency monitoring.
Key Features
- Objective workflow monitoring
- Staff appraisal management
- Operational process tracking
Target Users: Operations and HR teams
Document Management
Digital document management system for insurance policy files, claims documentation, and compliance records.
Key Features
- Policy and claims document storage
- Compliance document management
- Digital document workflows
Target Users: Operations teams at insurance carriers
At a Glance
- Founded
- 2020
- Headquarters
- Lagos, Nigeria
- Employees
- 11-50
- Funding
- Seed
Category & Focus
- Category
- Core Administration
- Subcategories
- Policy Administration Claims Management Finance & Actuarial CRM Document Management
- Insurance Verticals
- Life & Annuity P&C Commercial P&C Personal Health
- Target Customers
- Carriers
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Last updated: 2026-06-13