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    

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

WELL Health reveals plans to acquire Cycura’s services division
WELL Health reveals plans to acquire Cycura’s services division
By Nikita Chaurasia

  The acquisition would elevate WELL Health's cybersecurity program across the technology and healthcare sectors  WELL Health would build a strong portfolio of companies and products/services as part of its capital allocation initia...

Abry adds HealthEZ to its pool of healthcare service investments
Abry adds HealthEZ to its pool of healthcare service investments
By Nikita Chaurasia

Abry Partners, one of the most successful private equity investment firms in North America, has reportedly made it to the headlines for acquiring majority stake in a Minnesota-based third-party administrator of self-funded medical plans, HealthEZ. T...

Welltel acquires Kildare-based secure IT & cloud service provider Novi
Welltel acquires Kildare-based secure IT & cloud service provider Novi
By Nikita Chaurasia

Ireland-based end-to-end communication services provider, Welltel has recently announced the acquisition of Novi, a Kildare-based IT service firm. With the said acquisition the two companies would now be able to offer an integrated suite of secure co...

Canzon to explore German market by partnering with Lykos Verde
Canzon to explore German market by partnering with Lykos Verde
By Nikita Chaurasia

Canzon, an Israeli enterprise selling CBD-based products in Europe has reportedly entered a partnership worth NIS 6 million yearly with German distribution firm Lykos Verde. Sources close to the matter stated that as per the agreement, Lykos Verde w...

Société Générale purchases Shine to expand retail banking portfolio
Société Générale purchases Shine to expand retail banking portfolio
By Nikita Chaurasia

France-based multinational investment bank Société Générale S.A. has reportedly acquired Shine, a neobank for entrepreneurs, for an undisclosed sum. According to reliable sources, the acquisition will allow the financial s...