AWNIC wins coveted Innovation of the Year award, presented by InsureTek

As part of its Golden Shield Excellence Awards, InsureTek announced Al Wathba National Insurance Co. (AWNIC) as the winner of the Innovation of the Year award during its annual conference, hosted on June 9 at a glittering event at the Dusit Thani Hotel, Dubai.

InsureTek’s awards recognise leading companies from within the sector that are helping the insurance industry evolve. The Innovation of the Year category is created to recognise the commitment and professionalism of operational and technical teams within organisation in delivering value to customers, expanding their networks, and investing in innovative technology in what continues to be a constantly challenging environment. Across all these facets, AWNIC has been especially deserving.

Pushing the digital map

Established in 1996, AWNIC is among the leading insurance companies in the UAE in terms of fronting digital and smart service initiatives. With Its head office in Abu Dhabi and a widespread network of branches across the UAE, AWNIC provides insurance services to a large spectrum of clients, from individuals to corporate lines. Supported by an internationally renowned panel of reinsurers, the firm is praised for its digital initiatives and the introduction of tech solutions into its workplace.

Today, from having an innovative user-friendly mobile app and website to implementing blockchain technology in claims processes, AWNIC has introduced several tech solutions that have resulted in the brand receiving its fair share of accolades, including the Digital Initiative Award for Digital and Smart Services in 2018 and 2019 by the UAE Insurance Authority. In 2020, Al Wathba Insurance Co was ranked sixth by Forbes Middle East among Most Valuable Insurance Companies in the Region.

Customer and employee focused

Anas Mistareehi, Chief Operating Officer, AWNIC, says, “We are proud about receiving such a prestigious award. At AWNIC, we have invested a lot of resources to deliver significant value to both customers and employees. Our digitisation initiatives were driven by path breaking technologies to build strong partnerships with key players in the industry while addressing the demands of the end-users.

“Adopting a digital approach has helped us carry out business operations seamlessly during the pandemic. By leveraging our digital capabilities, we were able to operate 100 per cent remotely without any interruptions. In fact, we have seen a 200 per cent increase in premium production through our eChannel during the second quarter of 2020. Similarly, a customer satisfaction rate of 93.4 per cent was recorded from March to June 2020 as clients were able to access and avail of all of the AWNIC offerings by using our eChannel without any manual intervention,” he adds.

It’s initiatives such as these that have consistently allowed AWNIC to create its own unique space within the regional insurance sector and be admired by customers, and the competition since embarking on its success journey a quarter of a century ago.