SA Tech Startup Ovation Solutions Wants to Radically Streamline Employee Benefits
Ovation Solutions, a South Africa-based tech startups, has developed a cloud-based employee benefits platform that allows users to access their benefits from a range of providers.
According to Ovation Solutions the platform is a decentralized and secure, supporting pension or provident funds, income protection, disability cover, medical aid, and a lot more in one platform.
With its payroll integrations, the startup claims to have removed all the paperwork involved with signing up for benefits and making adjustments to them, while also allowing employees to access more benefits than their employer would typically make available to them. The start-up claims to have removed all the documentation involved in signing up for benefits and making adjustments to them with its payroll integrations, while also allowing employees to access more benefits than their employer would typically make available to them.
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The Chief Operating
Officer (COO) of Ovation Solutions while speaking to Disrupt Africa said, “In the process, we have created a marketplace for financial product providers, and enhanced the role of the broker so that they can focus on helping you plan for your financial future, instead of administration”.
Financial service providers are onboard and use the platform as a distribution hub for their products, offering things such as provident funds, income protection, disability cover, medical assistance and tax-free savings products, among others.
Officially registered as a business in 2019, Ovation did however have several team members working on it since 2015, and it has hit the ground running. So far it has onboarded eight providers and 12 employers to date, while there are more than 2,000 individuals making use of the platform at the moment.
Ovation was officially registered as a company in 2019, but since 2015, it has had several team members building the platform. To date, eight providers and 12 employers have been joined, with more than 2,000 people currently using the platform.
“Our largest provider to date integrated onto the platform is Allan Gray. We are also in discussions with several other large South Africa providers of medical schemes products, health insurance, life insurance and systems supporting pension and provident funds. We are also partnering with several brokerage houses operating in the region to be their digital partners for their clients,” said Chigiji.
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