Rasan, a Saudi-owned fintech and insurtech company, is participating in the ongoing 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 features innovations across banking, asset and wealth management, insurance, regulation and more. GITEX, which runs until Oct. 21 at Dubai World Trade Centre, comes at a time when the Middle East and North Africa fintech market is slated to reach $ 2.5 billion by 2022.
Rasan, a pioneer in regional insurtech through its Tameeni platform, is showcasing its various innovations in 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 the 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,” said Moayad Alfallaj, 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, 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 two-three minutes and then purchase their preferred insurance instantly,” Alfallaj added.
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 SR120 million ($31.9 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.