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The Middle East’s first digital insurer HAYAH Insurance Company P.J.S.C. has entered an agreement with Lumera, to deliver the world’s first AI-powered insurance solution. Based in Stockholm, Sweden, Lumera is a leading insurtech company that is dedicated to the digital transformation of the international life and pensions industry.

HAYAH is committed towards addressing the needs of both local citizens and expatriates. Hence, through this partnership, HAYAH aims to create a next-generation, comprehensive insurance platform that will form the foundation for the company’s offering, with digital engagement and a seamless user journey that enables clients to purchase policies with one single click.

“We are proud to partner with Lumera to become the world’s first AI-powered life insurer. Our mission is to be a true disrupter in our industry, by providing a fully digital insurance experience that is simple and secure. Lumera combines the leading-edge technology we need for a competitive edge with the insurance expertise required to make it work for us,” says Mohamed Seghir, CEO, HAYAH Insurance Company.

HAYAH will leverage its new insurance platform and provide an all-online offering, including an automated Smart Saver product with external advice service, Employee Secure Saver for group pension schemes with member and employer portals, life insurance for individuals as well as business with simplified onboarding and servicing. Through this, HAYAH aims to address local issues of savings and protection gaps by bringing advanced and tech-oriented solutions.

“HAYAH acts as an industry pioneer by adopting key digitalisation concepts for insurance, including AI for complex decision support and data warehousing. We look forward to continued close collaboration with HAYAH to further their digital insurance leadership,” says Andrew Hubbard, Chief Business Development Officer, Lumera UK&I.

Source: Matt Five Marketing