*In Cooperation with The Benefit Company* Solidarity Bahrain Adopts ‘Electronic Know Your Customer (eKYC)’ Technology to Provide an Integrated Digital Experience for Customers

*In Cooperation with The Benefit Company* Solidarity Bahrain Adopts ‘Electronic Know Your Customer (eKYC)’ Technology to Provide an Integrated Digital Experience for Customers

Manama, Bahrain – 12 June 2022: Solidarity Bahrain, one of the largest insurance companies in the Kingdom of Bahrain and a subsidiary of Solidarity Group Holding B.S.C., announced the adoption of the ‘eKYC’ feature, which is equipped with the digital verification and customer identification feature. This feature aims to enhance customers’ experience through innovative digital services supported by the latest global technologies in the Bahraini insurance market, in addition to ensuring full compliance with the laws and regulatory systems of the Central Bank of Bahrain related to combating money laundering and fraud.

The eKYC feature enables Solidarity Bahrain’s customers to enrol and register digitally from anywhere and at any time to access the company’s various insurance services. Customers will have an integrated digital experience when using Solidarity Bahrain’s electronic application, where they will be able to complete transactions seamlessly and safely. The introduction of this service comes in line with the company’s digital transformation efforts, and goes in line with the Central Bank of Bahrain’s drive towards digitizing insurance services.

Commenting on this cooperation, Mr. Yaser Al Hammadi, Assistant General Manager – Compliance and Risk Management & MLRO at Solidarity Bahrain, said: “At Solidary Bahrain we aim to continuously improve the products and service offerings to our customers, as we strive to provide them with a seamless and integrated experience in all aspects. We are pleased to announce the addition of the Electronic Know Your Customer “eKYC” feature through our electronic application, which will contribute to simplifying the mechanism of customer registration and facilitating their access to insurance services in a digital form via the Internet. We have succeeded in achieving this step through our cooperation with Benefit Company, the Kingdom’s innovative and leading company in Fintech and electronic financial transactions services. We look forward to continuing on the journey of digital transformation and providing the best products and solutions within the insurance sector, that meet the aspirational needs of our valued customers.”

“We are proud that Solidarity Bahrain has pioneered the digital transformation journey in the Kingdom of Bahrain, as the addition of this new service to our customers comes as part of the company’s strategy to lead digital transformation in the Kingdom. Solidarity Bahrain is constantly working on digitizing its services to its customers to keep pace with the rapid changes and developments within the industry. The company has deeply invested in digital transformation and focuses primarily on the optimal exploitation of insurance technology, and enhancing the efficiency of electronic services and customers’ facilitated digital access without the need to personally attend any of the offices or branches. Solidarity has also launched comprehensive digital services as an alternative to traditional services to stay up to date with digital trends, as it has launched a variety of digital insurance services via phone, internet, video and chatbot to enable the customer to conduct seamless transactions from a distance. We aim to continue on improving the digital services provided to our customers to support our digital transformation efforts,” he added.

The ‘eKYC’ platform digitally authenticates the customer’s identity in a simplified manner through swift steps, by taking a picture of their identity card and a selfie. This platform is characterized by maintaining the confidentiality of data, and allows easy management of customer records in a more efficient and effective manner. The platform also supports the direction of the Kingdom of Bahrain and the Central Bank of Bahrain’s strategy to raise insurance awareness among various segments of the society.