Manama, 12 June 2019: Bahrain FinTech Bay is excited to announce the launch of the Insurance Digitalization Report 2019. The report provides an overview of the local insurance market in Bahrain and identifies emerging digitialization trends shaping the industry.
Alongside an overview of the existing local insurance market, the report provides a summary of survey results focused on organizational stategy and mindset, customer journey, access to information, and overall digitalization efforts at different stages of operations. Recommendations were also built from the analysis of the data to create a crucial framework for varied stakeholders in the ecosystem to digest as a means of promoting the growth of digitalization in the local insurance market.
Khalid Saad, CEO of Bahrain FinTech Bay, also states that: “As InsurTech solutions emerges, it will dramatically transform the insurance industry. Such transformation will impact the value chain, enhance efficiencies and the customer experience, create new products, and redefine business models. With the rise of millennials and ever greater levels of technological advancement, adoption of and collaboration with InsurTechs will further support the industry to shift from a product-centric
world to a customer-centric world.
Through this report, we aim to shed light on the current status of digitalization in Bahrain’s insurance industry and explore how InsurTech can support the industry transform and develop further. We hope that you find this report as a useful guide moving forward.”
You can download a free copy of the Insurance Digitalization Report 2019 here.