Saturday 13 August 2022

Awris picks GBM Bahrain for digital transformation

MANAMA, Bahrain, June 22, 2022

The Arab War Risks Insurance Syndicate (Awris), which backs local Insurance markets in the Gulf, has chosen Gulf Business Machines (GBM) in Bahrain to fast-track its digital transformation by implementing a new re-insurance system.

In a strategic partnership with SAP, GBM will be delivering the SAP S/4 HANA Re-Insurance Solution for Awris.

Supported by GBM, Awris is taking a transformational step forward to implement the re-insurance capability of SAP Insurance, in order to handle its core business processes, replacing various legacy systems with a single comprehensive solution. This will be crucial for Awris to enhance its re-insurance capabilities and use the platform as a powerful tool for efficiently managing portfolios and complying with various legal requirements.

Nabil Kotran, CEO at Awris, said: “Awris has embarked upon a digital transformation journey to take the syndicate to an optimum level of efficiency as the SAP Re-Insurance system will streamline the processing of reinsurance business for Awris, and reduce maintenance and development costs typically associated with maintaining disparate systems.”

“Over the past 35 years, Awris provided living proof of the success and realization of such a pioneering pan-Arab venture, witnessed by its resounding progress. This transformational project will only enhance this commitment on which future advancements shall sit upon,” he added.

“We are proud to be the SAP partner of choice for this Digital transformation project at Awris, and are excited to embark upon this journey along with Awris”, said Abdulla Ishaq, General Manager of GBM Bahrain. “Our strategic partnership with SAP is a big step in this direction, and we are excited to bring SAP’s innovative enterprise solutions to a customer base who are constantly looking to implement the best-in-class technologies in their operations.”

GBM shall be implementing a combination of SAP S/4 HANA Financials, collections and disbursements, in addition to the capabilities of SAP S/4 HANA Insurance, reinsurance and capability.

This would cover nearly all reinsurance core processes, including management and accounting of single policies, facultative acceptances and proportional and non-proportional reinsurance contracts. It would also cover administration and accounting of single and cumulative losses, and evaluation with statistics and individual queries and reports.
“There was a detailed and very structured vendor selection process in which the SAP was selected as the OEM partner, Gulf Business Machines (GBM) and HEDWELL Inc. as the Implementation partner and Etisalcom as the Infrastructure partner,” said Ali Zayer, Awris Project Manager.

With more than 30 years of experience, GBM has supported organizations in the GCC as a leading end-to-end digital solutions provider, offering a broad portfolio that includes industry-leading digital infrastructure, digital business solutions, security, and services. – TradeArabia News Service


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