AWNIC became the first insurance company in the Middle East to transfer recovery files with other insurance companies through blockchain.
Abu Dhabi headquartered Al Wathba National Insurance Co (AWNIC) has announced the first move of its kind in the Middle East in transferring recovery files using block chain technology. The first transfer took place on 16 October through the block chain enabled technology platform MIRSAAS, a B2B motor insurance claim recovery block chain settlement layer offered by Addenda Technologies.
“With MIRSAAS going live on 16 October 2019, AWNIC became the first insurance company in the Middle East to transfer recovery files with other insurance companies through block chain technology. This partnership with an emerging technology provider like Addenda would provide an edge to all the insurance companies within the network by bringing in a hassle-free process which would in turn enhance visibility and transparency,” said Mr Anas Mistareehi, COO of AWNIC.
AWNIC’s vision of being the pioneer in new age digital technologies has become a lot more exciting with this development, he said.
Mr Mistareehi stated that AWNIC is a leader in implementing the latest digital initiatives for better customer experience. “We consider the customer at the heart of our core business. The data driven decision-making benefits AWNIC customers in getting better value to price proposition. With the UAE market having the highest smart phone penetration rate, the AWNIC mobile application helps the customer to log their claims at any instant following an unfortunate incident. The mobile app also allows the claimant to track claim files at any given point of time with the support of a robust claims management system.”
AWNIC was one of the early adopters of RPA (Robotic Process Automation) technology and ECM (Enterprise Content Management) systems in the UAE insurance sector. In addition, AWNIC Business Whatsapp helps customers to interact with the company’s customer care team at any given time.
The insurer said, “AWNIC management attaches prominence to transforming the company into a digital insurance company, as we believe that quality service matters more than quantity. By capitalizing on the power of technology to re engineer business models, AWNIC strides forward in implementing the latest digital technology.”