By : Bakinam Khaled
Rasan, a Saudi-owned Fintech and Insurtech company, announces participation at GITEX Global 2021 to help drive innovation and create value in the insurance and finance industry through its innovative solutions.
Under the theme, “Shining a light on the intersection between technology and finance,” GITEX Fintech Surge 2021 will feature innovations across banking, asset and wealth management, insurance, regulation and more.
GITEX will be held from October 17-20 at Dubai World Trade Centre, as the Middle East and North Africa (MENA) fintech market is slated to reach US$ 2.5 billion by 2022*.
Rasan, the pioneer in regional Insurtech through its market leading Tameeni platform, will showcase its various innovations in the health and motor insurance as well as other solutions and multi-sided platforms. The company’s primary aim is to highlight three core points:
1. Simplicity - Share its success story on making its technology intuitive for its broad user base
2. Pioneering - Offering innovative and unprecedented solutions in the insurtech and broader fintech markets in Saudi Arabia and broader MEA region
3. Sustainability - Awareness about its role in promoting sustainable economic growth and improving economic productivity
“We are excited and proud to be taking part in this year’s Fintech Surge, which is a powerful platform to showcase innovative products to an audience who are seeking new technology and innovative solutions and partnerships,” commented Mr. Moayad Alfallaj, the CEO of Rasan.
The company launched Tameeni Motor, through its brokerage partner IHC, the first authorized and licensed online insurance aggregator in Saudi Arabia by the Saudi Central Bank (SAMA), bringing a digital disruption in the regional Insurtech industry.
“Our platforms – Tameeni Motor, Tameeni Health and Treza - designed and developed in Saudi Arabia are fully integrated with insurer systems, giving customers the ability to solicit insurance quotes, compare coverage and prices in just 2-3 minutes and then purchase their preferred insurance instantly,” Alfallaj noted.
Rasan has helped more than 4 million users through Tameeni Motor and Tameeni Health and enabled clients to issue/renew policies during the pandemic. The platform has completely removed the need for printing, by offering an end-to-end digital experience, resulting in a saving of a whopping SAR 120 million worth of cost for printing and 30,000 to 60,000 trees.
Alfallaj explained that Rasan’s vision is to empower stakeholders to collaborate seamlessly and in real time across their insurance and financial interactions, while providing world-class human experience, extending the boundaries of digital innovation and closely aligning with Saudi Arabia’s Vision 2030.
Founded in 2016, Rasan designs and develops digital technologies to help drive innovation and create value for the insurance and finance industry.