United Cooperative Assurance wins Middle East Technology Excellence Awards 2024 for digitalisation project

The integration of advanced technologies has set new benchmarks in efficiency, customer satisfaction, and operational excellence.

Insurance company United Cooperative Assurance (UCA) won the Automation - General Insurance category at the prestigious Middle East Technology Excellence Awards 2024 for recently embarking on a digital transformation journey to remodel its legacy business plans, which has digitalised its sales services.

The initiative also entails the automation of all underlying processes in integration with all other services along the value chain and across operational levels, including pre-sales and after-sales services to form a complete lifecycle model that provides a unique customer experience (CX) through a digital sales process.

UCA’s project is distinguished by its pioneering approach to integrating various processes into a unified digital ecosystem. The company has introduced cutting-edge innovations first by eliminating unnecessary activities that waste time and effort, consequently turning the process light and agile.

Then, it has streamlined tasks such as online quotation issuance, payment processing, policy issuance, approvals, Anti-Money Laundering screening, reinsurance seeding, credit control, and accounting.

These capabilities have increased the speed of service delivery to a hyper-speed, increased efficiency, and have reduced the dependency on manual intervention by 90%.

Designed to adapt to technological advancements and evolving market demands, UCA’s digitalisation strategy is inherently dynamic and flexible. It can easily incorporate new regulatory requirements to ensure ongoing compliance with industry standards. It is also scalable and capable of integrating emerging technologies for enhanced risk assessment and personalised insurance solutions.

The initiative has achieved its primary objectives of enhancing operational efficiency and improving customer satisfaction with the automation and integration of multiple processes. Policy issuance times have been reduced from long hours to few minutes, operational costs undergoing significant reduction and customer satisfaction scores high in the process.

At the same time, feedback from corporate clients and individual customers has been overwhelmingly positive. Businesses appreciate the streamlined processes and quicker turnaround times, whilst individual customers enjoy the convenience and efficiency of the digital interface.

UCA’s project has made waves beyond internal operations, setting a new industry standard for digital innovation.

“By embracing advanced technologies, achieving significant impacts, and maintaining flexibility, the project not only meets its objectives but also sets a new benchmark for the future of insurance,” the company said.

The Middle East Technology Excellence Awards 2024 honours pioneers of technological innovation in the region, having significantly contributed to the pursuit of excellence within the industry. It celebrates companies, initiatives, and leaders that have utilised advanced technologies in improving business outcomes.

The Middle East Technology Excellence Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's outstanding contributions in pursuit of technological innovation, please contact Danica Avila at [email protected].