Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Mashreq Bank Automates Bancassurance Operations Through Partnership With WayPoint System

ASSURE Banca Platform will improve operational efficiencies, deliver convenience, and improve personalization to Mashreq’s bancassurance customers
Solution improves overall customer experience for Mashreq’s bancassurance solutions – including the bank’s plans on life insurance, car insurance and critical illness

WayPoint Systems, a leading Information Technology service provider has partnered with Mashreq Bank, one of the leading financial institutions in the UAE, to implement its ‘ASSURE – Bancassurance‘ platform across the bank’s bancassurance processes. Mashreq offers several bancassurance solutions through its insurance partners, including life insurance, car insurance and critical illness.

Recommended AI News: AscendEX Announces a $50 Million Series B Raise Led by Polychain Capital and Hack VC

Since its successful implementation in May 2021, the ASSURE platform has already provided several key benefits to Mashreq clients, as well as a completely omni-channel service experience through end-to-end digitization and automation. Most notably, the platform has facilitated an exchange of information between the bank as well as its insurance partners, thereby enabling insurance providers to offer more personalized services and products to Mashreq’s client base.

Related Posts
1 of 40,422

Mufazzal Kajiji, Head of Mashreq Gold and Executive Vice President of Mashreq Bank: “For several years, Mashreq’s primary focus has been on improving customer experience and introducing products and services that provide value and convenience for partners and stakeholders. With that goal in mind, we are delighted to have partnered with WayPoint Systems to add the ASSURE – Bancassurance platform. The solution has enabled us to significantly simplify Bancassurance administration processes, creating a more personalized and valuable experience. Other benefits include the reduction in our operational and administration costs, as well as the ability to provide a sophisticated but simple customer management experience.”

Recommended AI News: Smart Engines Brings OCR to the Travel Industry in Kazakhstan

“Our endeavor in creating tech-driven procedures gave way to ASSURE. As Banks are moving faster towards an Open Banking structure, there are more opportunities in digitalizing the internal structure of banking which led us to the idea of ASSURE”, commented Dayan V Ipe, CEO, WayPoint Systems. “We are happy to collaborate with Mashreq and being a part of the digital culture growing across the institution.”

Thomas Cherian, Executive Vice-President and Head of Technology at Mashreq, said: “At Mashreq, we are constantly examining ways to improve productivity as well as internal procedures, in line with our goal of delivering a better experience for our customers. ASSURE is analogous to our idea of automation software for banking operations; as it prioritizes the user experience and security, first and foremost. The implementation of this solution also improves several efficiencies – including our procedures, product management as well as an improved claims management process.”

In practice, the implementation of the ASSURE platform has created a hyper-personalized system for customers, eliminating manual processes and the administration of policies and claims. Through the digitization of insurance sales, customer verification and claims management, the ASSURE platform has significantly reduced the complexity of Bancassurance procedures. Additionally, the platform’s API-driven technology means that integration with third-party insurance providers is easily maintained. Stakeholders also benefit from streamlined insurance distribution and commission management, as well as customer support when required.

Top Crypto News: “Bitcoin Has No Intrinsic Value”. Then What Gives Bitcoin Value?

[To share your insights with us, please write to sghosh@martechseries.com]

Comments are closed.