AIFT held a signing ceremony on the sidelines of the Future Investment Initiative (FII) Summit in Riyadh, Saudi Arabia.
Global cybersecurity and insurance technology company, AIFT, signed two key partnerships in Saudi Arabia during the Future Investment Initiative (FII) Summit in Riyadh.
The first partnership with Walaa Cooperative Insurance, a Saudi Arabian insurance company, will see them serving as a reinsurer for OneDegree’s digital asset products globally.
The second partnership with Melon, an InsurTech company operating in Saudi Arabia, aims to establish a digital insurance agency in the Kingdom with an initial focus on delivering high-quality pet insurance solutions.
Robin Scott, AIFT’s General Manager of the Middle East, said, “We were honoured to be joined by Hong Kong Financial Secretary Paul Chan and other dignitaries from Hong Kong and Saudi Arabia at our signing ceremony in Riyadh. AIFT is expanding quickly in markets that have a clear focus on global mega trends like AI and Web3 such as Saudi Arabia. With these two partnerships we are delighted to strengthen our ties with our friends in Saudi Arabia”.
Johnson Varughese, the Chief Executive Officer of Walaa, said “We are pleased to reinforce our partnership with OneDegree. Walaa aims to be at the forefront of developments in the insurance industry. OneDegree, with their innovative digital asset products, is an ideal partner to pursue such cutting-edge progress.
Nasser Alshikhnasser, CEO of Melon, said, “AIFT’s extensive market expertise and innovative digital tools are crucial assets as Melon enters Saudi Arabia’s growing insurance and InsurTech industry. Collaborating closely with the Saudi Insurance Authority, this partnership is set to address the rising demand for pet insurance, aligning with the nation’s Vision 2030 objectives.”
