The Digital Transformation in Insurance Forum kicks off December 22^nd

‏‏ Sunday, 13 December, 2020

Under the patronage of the Central Bank of Bahrain, the Bahrain Institute of Banking and Finance (BIBF) and Bahrain National Holding (BNH) announced the launch of the Digital Transformation in Insurance Virtual Forum on December 22, to discuss the latest digital trends in terms of providing an exceptional customer experience in the insurance field.

The one-day virtual forum will host insurance sector leaders and experts from related sectors to explore digital transformation opportunities and discuss today’s need for insurance companies to reinvent their business models to increase efficiency in insurance claims and improve customer experiences.

Discussions at this virtual forum will focus on:

• Customer Excellence
• Leading Competition
• Business Innovation
• Regulatory Environment

The BIBF’s Director, Dr. Ahmed AlShaikh, expressed his gratitude for this collaboration on this distinguished initiative, which aims to enhance digital transformation to provide the best customer experience in the insurance sector, which is witnessing remarkable growth in recent times as a centre for digital innovation, in conjunction with the tremendous expansion of the financial sector in Bahrain.

Dr. AlShaikh also indicated the necessity of adopting digital transformation solutions and applying them to enhance the customer experience as a top priority to achieve competitive advantage, as a report summarising a global study stated that 75% of companies expect a negative impact on their revenues if digital transformation policies are not adopted during the next year.

For his part, Chief Executive Officer of Bahrain National Holding Company, Mr. Samir Al Wazzan, said: “In a situation where the global economic environment is changing dramatically and unprecedentedly, now is the time for digital economy experts to unify their efforts and share their experiences and different opinions to build stronger networks of specialists in various fields.”

Mr. AlWazzan also added, “This forum will pave the way in which we can review the changes caused by digital transformation in life and industry to discuss ideas that will contribute to accelerating the pace of development and innovation in the insurance field.”