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Lumera selected by HAYAH to deliver fully digitalized insurance platform

 

Digital insurance pioneer HAYAH partners with Lumera to co-create their next-generation platform, including AI-powered policy administration.

Lumera, a leading insurtech company dedicated to the digital transformation of the international Life and Pensions industry, has entered an agreement with HAYAH Insurance Company to deliver a next-generation, AI-powered insurance solution. Based in the United Arab Emirates, HAYAH is the Middle East region’s first fully digitalized insurer, specializing in life, medical and savings.

HAYAH is adopting a range of Lumera technologies to build a comprehensive insurance platform which will underpin the company’s entire offering, with digital engagement and a seamless user journey that enables clients to purchase policies with one single click. 

This end-to-end solution will extend from the online client experience to supporting HAYAH’s daily operations with advanced policy administration functions, including claims, compliance and reinsurance.

“We are proud to partner with Lumera to become the world’s first AI-powered life insurer. Our mission is to be a true disrupter in our industry, by providing a fully digital insurance experience that is simple and secure. Lumera combines the leading-edge technology we need for a competitive edge with the insurance expertise required to make it work for us,” says Mohamed Seghir, CEO, HAYAH Insurance Company.

HAYAH will leverage its new insurance platform and provide an all-online offering, including an automated Smart Saver product with external advice service, Employee Secure Saver for group pension schemes with member and employer portals, life insurance for individuals as well as business with simplified onboarding and servicing.

Insurance applications are characterized by large volumes of data and complex business rules, which presents highly promising use cases for state-of-the-art AI. Lumera has therefore set out to introduce the world’s first AI-powered policy administration system, with a roadmap which closely matches HAYAH’s business strategy.

“HAYAH acts as an industry pioneer by adopting key digitalization concepts for insurance, including AI for complex decision support and data warehousing. We look forward to continued close collaboration with HAYAH to further their digital insurance leadership,” says Andrew Hubbard, Chief Business Development Officer, Lumera UK&I.