35% increase in the market share of of AIMSweb system in the Saudi insurance market

Insurance Finance, Insurtech

“A new achievement for TechnoSys Group in the Saudi insurance market, assimilated in the increase of the company’s market share to 35% from the quarter until the end of 2008,” This was announced by Mr. Othman Bazian, the Managingl Director of the TechnoSys Group. And also added, “This achievement comes after joining new Saudi insurance companies to the list of our customers, and thus brings the number of Saudi insurance companies that are using the automated insurance system (AIMSweb) which developed by TechnoSys the nine among 26 Saudi insurance company who are registered and licensed by the Saudi Arabian Monetary Agency – (SAMA)”.

From his side, announced Mr. Ibrahim Qasmieh, the Executive Director of the group, that the company TechnoSys was able to open the Arabian insurance markets in front of their software products through subsidiaries in Saudi Arabia (under the name HiQSys Saudi) and United Arab Emirates (under the name of AIMSweb Emirates), and intends to expand in opening up new markets in the insurance market in the Arab Gulf states and Africa. This comes within the company’s strategic plan to increase the company’s market share in the regional insurance markets. ”

Mr. Qasmieh also added “The system AIMSweb became finds wide acceptance with the large regional insurance companies and not just the medium after the addition of the Workflow & Collaboration features that facilitates workflow-mail between the departments of the insurance company so as to provide a cost & time saving and increase the productivity of staff to perform the work in less time.”And said, that “AIMSweb system is currently working in a full conformity with the requirements of numerous insurance entities in the region such as (SAMA, CCHI, NajemNet, CMA, HAAD, Abu Dhabi Traffic, Jordan Insurance Federation and Jordan Insurance Commission, and others).

TechnoSys Group has developed an insurance management system (AIMSweb) using the web technology, and the latest international technology of Oracle in corporation with the internet environment and Mobile, in both Arabic and English.

AIMSweb covers all the needs of the insurance companies in the field general, life, medical, reinsurance, financial, workflow, and other office applications in an integrated manner within the internet environment. The system used by more than 50 Insurance Company in 10 countries, and currently used by more than 3,000 insurance experts on a daily basis.

As that TechnoSys Group has introduced the latest version of (AIMSweb) system, number 11, under the sponsorship of the Third Saudi Insurance Summit, for the second time in a row, which was held recently in Riyadh. And that’s of the interest in participating in all the activities relating to the business and insurance companies in Saudi Arabia in particular and the Arab market in general.

Mr. Bazian has mentioned that TechnoSys Group established since 1989 and work exclusively to serve the insurance sector in the Arabian, the Gulf, and Africa markets. And the company enjoys the highest share in the automation insurance operations, with a 75% in the Jordanian insurance market, 75% in the Palestinian market, 50% in the Qatari market, in addition to 35% in the Saudi market.

TechnoSys relies on a unique way of marketing the system, represented in doing workshops with the insurance company before buying, and then the insurance company evaluates the results practically on the system. The system (AIMSweb) has proven its efficiency to cover all the current needs and future of insurance companies, beating the competitive products from other global companies in terms of efficiency, flexibility, and standard time in implementation.