Case Study
Capitec: Retail Life Insurance Platform
Business Results
Increased engagement
Seamless mobile and branch integration boosted customer interaction and self-service adoption.
Improved processing
End-to-end digital workflows streamlined policy administration and reduced manual effort.
Growth in automation
API-driven processes and cloud-native architecture enabled scalable, low-touch operations.
Headquarters: Stellenbosch, Western Cape, South Africa
Industry: Financial Services
Use Case: Full policy lifecycle which includes onboarding, quoting, billing and reporting
Department: Retail Banking & Insurance
Integrations: Oracle Insurance Policy Administration, Custom Rating Engine, Real-Time APIs, AWS Cloud Infrastructure, CI/CD and DevSecOps
Setting the Stage
Powering a next-gen insurance experience for 20 million customers through seamless digital integration and end-to-end policy management.
Capitec is one of South Africa’s largest and most innovative retail banks, known for its technology-led, simplified approach to financial services. With a strong presence across mobile and physical channels, Capitec serves over 20 million customers with integrated offerings across banking, credit, and insurance.
The bank’s commitment to digital innovation positions it as one of the most progressive financial institutions in the country.
The Challenge
Falcorp delivered the foundational policy administration system powering Capitec’s retail life insurance platform, enabling full lifecycle support across digital and branch environments
The project addressed the challenge of launching a new insurance capability from scratch within aggressive timelines and strict regulatory requirements.
Capitec had no existing life insurance infrastructure and needed to launch within a regulated environment under significant time pressure
The solution also had to support high-volume, low-cost operations and integrate seamlessly with Capitec’s branch and digital channels.
Additional requirements included full alignment with IFRS17 reporting standards and a secure, cloud-native architecture to meet internal and external compliance benchmarks.
The Solution
Falcorp implemented a cloud-native, modular insurance platform centred on Oracle OIPA, tailored to meet Capitec’s customer experience and operational needs.
The solution offered end-to-end policy lifecycle support and featured real-time integration with Capitec’s digital and banking systems. It included support for an external rating engine hosted on AWS to manage pricing logic and enabled consistent onboarding and servicing across both mobile and branch touchpoints.
The implementation followed an agile, collaborative approach, with embedded consultants and iterative delivery cycles aligned to Capitec’s internal release cadence.
The solution was delivered using agile methods, with Falcorp consultants embedded within Capitec’s hybrid teams. Sprint-based iterations drove configuration and integration tasks, while API design for quoting, issuing, and servicing was done jointly.
Testing, deployment, and UAT were conducted within Capitec’s own release cycles, with structured knowledge transfer to enable post-launch self-sufficiency.
Falcorp leveraged deep domain knowledge, technical expertise, and collaborative delivery to meet Capitec’s unique regulatory and operational requirements
The team led the translation of business requirements into system capabilities and drew on experience in retail insurance product design. Extensive Oracle OIPA expertise supported the configuration of product definitions, business rules, and process flows.
Falcorp also provided design and testing support for integration APIs, worked seamlessly with Capitec’s internal teams, and ensured architectural, security, and compliance alignment throughout the project. This included oversight of user acceptance testing, go-live planning, and post-launch stabilisation.
What we Achieved
A comprehensive suite of strategic, technical, and engineering services underpinned the successful delivery of Capitec’s insurance platform.
Falcorp delivered end-to-end professional services, including strategic advisory and project management, user experience design, and solution architecture.
Core system implementation was complemented by robust quality assurance planning and execution, with DevOps engineering integrated throughout the delivery lifecycle.
The result was a fully digitised insurance capability embedded within Capitec’s ecosystem, enabling rapid product rollout and ongoing expansion.
Capitec successfully launched two core insurance products, the Capitec Funeral Plan and the Capitec Life Plan, both accessible via mobile and branch channels with a seamless user experience.
The solution integrated smoothly into Capitec’s regulated banking environment and leveraged an API-driven model for dynamic quoting and policy servicing.
The platform was also designed to support future product expansion and gave Capitec full control over pricing logic through its externalised rating engine.
Adoption
The platform saw rapid adoption due to its seamless integration with Capitec’s existing digital and branch channels, delivering a consistent and user-friendly experience.
The insurance platform was made available across both mobile and branch channels, allowing Capitec clients to access life insurance products through their existing banking interfaces.
By integrating the offering into established customer touch points, Capitec ensured accessibility and ease of use, supporting adoption without requiring separate platforms or experiences.
Looking forward
This project illustrates Falcorp’s ability to implement scalable, agile insurance solutions in complex, regulated digital environments.
The Capitec engagement demonstrates Falcorp’s expertise in deploying Oracle OIPA within high-volume, cloud-native environments and partnering with in-house teams under agile governance.
It highlights their capability to enable embedded insurance models through deep integration across customer channels, delivering platform solutions that support growth, digital agility, and operational efficiency.
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