TechnoSys, focused on insurance automation in the Gulf, Arabian and African insurance markets, has added new customer to its Saudi Arabian customers list, which brings its share in the Saudi insurance market to 35% – reported AME Info.
New Saudi insurance companies have opted to use AIMSweb, developed by TechnoSys using technologies from Oracle in internet and mobile bilingual environments. Of 26 insurance companies registered with Saudi Arabia Monetary Agency (SAMA), nine companies use AIMSweb.
Othman Bazian, chairman of TechnoSys, said: “New progress to TechnoSys just achieved in Saudi insurance market rising the share from one quarter to be 35% of the Saudi Insurance companies registered with SAMA.”
Ibrahim Qasmieh, chief executive officer of TechnoSys, said that TechnoSys has opened new insurance markets for AIMSweb via TechnoSys subsidiary companies in Saudi Arabia (HiQSys Saudi) and UAE (AIMS web Emirates). The company plans to widen its present in new insurance markets, and is accepted by medium as well as large enterprise insurance companies.
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This development is mainly after adding new features like Workflow and collaboration, which enhanced the business flow electronically between insurance departments, as well as, saving the time and effort by raising the productivity of insurance staff.
Mr. Qasmieh continued that AIMSweb is fully compatible with regulations of insurance commissions in the region like SAMA, CCHI, NajemNet, CMA, HADD, Abu Dhabi Traffic, Jordan Insurance Federation (JIF) and Jordan Insurance Commission, as well as, insurance bodies in other ten countries using AIMSweb.
AIMSweb also covers all needs of insurance companies in the fields of General, Medical, Life insurances, Finance, Reinsurance, Insurance Workflow, Office Collaboration and others, all of which are integrated and bilingual internet environment.
In May 2008, the company unveiled the latest version of AIMSweb version 11. The company’s share in the automation of insurance market includes 75% in Jordan, 75% in Palestine, 50% in Qatar, and 33% in Saudi insurance market.
