SNIC Insurance visits Dubai Fintech Hive

The visit illustrated the implementation of Artificial Intelligence, IoT (Internet of things) and blockchain technologies


MANAMA: SNIC Insurance visited DIFC Fintech Hive to explore the latest insurtech solutions and embrace new technologies through its digital transformation journey.

The team was led by SNIC assistant general manager for corporate support Ahmed Radhi and included members of the company’s IT team.

The visit illustrated the implementation of Artificial Intelligence, IoT (Internet of things) and blockchain technologies with numerous solutions in transferring the current onboarding services into digital experiences, with special emphasis on health and wellness and preventive health screening, thus promoting healthier lifestyle, early detection of chronic treatment and reduction in public health spending.

“Today digital is impacting all aspects of our lives on a daily basis, flooding us with information, entertainment, self-service access to shopping, personal and professional guidance, as well as better fitness and overall wellness,” said Mr Radhi.

“On the insurance side, the opportunity to provide a better consumer experience, more price transparency, and the ability to use technology to collect and use data for informed real-time decision-making has never been greater.

The visit to DIFC FinTech Hive in Dubai comes as a prelude to digitising SNIC’s capabilities to cater for Bahrainis and expats as part of the implementation process for Mandatory Health Insurance Programme during the course of 2020.

“SNIC will continue investing in insurtech trending technologies to enhance the services provided to its customers and stakeholders by remaining at the forefront of the insurance sector in the region,” added Mr Radhi.

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