Innoveo and SIMS join forces to transform (re)insurance ecosystem

By Nikita Chaurasia  Date: 2020-06-29

Innoveo and SIMS join forces to transform (re)insurance ecosystem

Innoveo, a technology provider, based in Zurich, Switzerland, has recently entered into a partnership with Sidani Innovate Management Services DMCC (SIMS), a business innovation and management consultancy, headquartered in Dubai.

If reports are to be believed, the strategic partnership has been initiated to accelerate the adoption of innovative technologies in the (re)insurance domain for a successful implementation of digitalization initiatives. The partnership aims to leverage Innoveo’s proprietary no-code technology platform and SIMS’s digitalization consulting & implementation services to better serve their (re)insurance clients.

Sources familiar with the matter cite, with Innoveo’s flagship no-code platform - Innoveo Skye®, financial business and carriers can go live with their newly developed products in a matter of weeks.

Innoveo’s Chief Executive Officer, Amir Ghaffar said that digital transformation is crucial to bring in a rapid change and growth in the Middle East. The company is thrilled to partner with SIMS, who are anticipated to play a key role in leading this transformation.

Whilst, SIMS’s President, Walid Sidani said that the company is delighted to form a partnership with Innoveo, whom they recognize as a global leader in no-code digital platform space. The joint effort will empower clients to accelerate their digitization initiatives through the company’s regional Fintech Hub presence in the UAE to assure a quick response and deployment.

He further mentioned that the first half of 2020 reformed the interaction of (re)insurance companies with internal customers and external stakeholders. (Re)Insurance companies cannot sustain on business plans depending on evolutionary investments in technology. They need to transform their client-facing apps & platforms and internal business processes, and this partnership will be a medium for their cost-effective technology solutions, Sidani said.

The primary focus of this agreement is to upscale their system infrastructure without the requirement for enormous and resource-intensive software coding.

Source: https://www.prnewswire.com/ae/news-releases/innoveo-and-sims-s-strategic-partnership-introduces-no-code-technology-to-accelerate-digitization-in-re-insurance-807500221.html

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Netflix confirms producing fictionalized version of Spotify’s ascension

Netflix confirms producing fictionalized version of Spotify’s ascension

By Nikita Chaurasia

Over-the-top content streaming & production giant Netflix Inc. is reportedly working on an untitled series that tells the story of one of the most successful music streaming companies, Spotify Ltd. The six-part series, already listed on Netflix,...

Edtech Byju’s is now India’s highest-valued startup at USD 16.5 billion

Edtech Byju’s is now India’s highest-valued startup at USD 16.5 billion

By Nikita Chaurasia

Byju’s, the largest education technology company, has emerged as India’s highest-valued startup after a USD 340 million funding round involving investors such as UBS Group, Blackstone, and Zoom founder Eric Yuan among others. Recently, B...

LiDAR maker Hesai Photonics secures USD 300 million in Series D funding

LiDAR maker Hesai Photonics secures USD 300 million in Series D funding

By Nikita Chaurasia

Hesai Photonics Technology Co. Ltd., a leading Shanghai-based LiDAR company, has reportedly secured USD 300 million in a Series D funding round which was led by GL Ventures LLC, Xiaomi Corporation, Hillhouse Capital Group, Meituan, and CPE. The roun...

Tesla terminates production of its Model S Plaid + variant indefinitely

Tesla terminates production of its Model S Plaid + variant indefinitely

By Nikita Chaurasia

CEO Elon Musk justified Model S Plaid as good enough against its successor. The Model S Plaid + was touted to be Tesla’s flagship vehicle, with a range of around 519 miles. After unveiling for the first time last year, American EV maker T...

ByHeart concludes largest U.S. clinical trial for infant food product

ByHeart concludes largest U.S. clinical trial for infant food product

By Nikita Chaurasia

ByHeart Inc., a New-York based infant, and baby nutrition company, has recently announced the completion of the largest clinical trial for new infant formula in the past 25 years. With this move, the company is earmarked to be the 4th FDA registered,...