ZURICH and DUBAI, United Arab Emirates, June 28, 2020 /PRNewswire/ -- Innoveo, a leading global technology provider headquartered in Zurich and Sidani Innovative Management Services DMCC (SIMS), a Dubai-based boutique and corporate innovation accelerator, formed a strategic partnership to assist the regional (re)insurance ecosystem in rapid adoption of innovative technologies to successfully implement digitalization initiatives. The joint power of these companies will help (re)insurance clients through Innoveo's unique no-code technology platform and SIM's digitalization consulting and implementation services.
The ability to launch new products in real time helps clients offer financial and insurance products through multiple distribution channels while improving process efficiencies relating to risk assessments, insurance policy issuance, customer advisory, servicing and claims resolution. Innoveo Skye® empowers businesses with the ability to launch powerful applications up to ten times faster than conventional development processes; enabling financial businesses and carriers to go to market with new products in weeks.
Amir Ghaffar, Chief Executive Officer of Innoveo, "Digital transformation is critical to foster and accelerate the current period of rapid change and growth in the Middle East. We are excited to partner with SIMS, the leading global business innovation and management consultancy with specific expertise in the (re)insurance sector in the Middle East, who will be instrumental in leading this change."
Walid Sidani, President of SIMS,"We are delighted to announce this partnership with Innoveo, who we recognize as a global technology leader in the no-code digital platform space. Our joint marketing and solutions development efforts will enable our clients to fast-forward their digitization trek through our regional Fintech Hub presence in the UAE to ensure a rapid response and deployment. The first half of 2020 redefined how (re)insurance companies collaborate with internal customers and interact with external stakeholders. (Re)Insurance companies can no longer rely on business plans requiring evolutionary investments in technology. This is not a passing trend, but the new normal. They now need to revolutionize their client-facing apps and platforms and internal business processes. The SIMS-Innoveo partnership will be their catalyst and partner for cost-effective technology solutions."
This partnership introduces Innoveo's flagship No-Code Platform (Innoveo Skye®) into the regional (re)insurance ecosystem to accelerate the launch of custom-built applications for their collective client network. Helping companies upscale their systems environment without the need for massive and resource-intensive software coding is the initial focus.