20 July 2024
The
Saudi Insurance Authority confirmed that its systems and those of the
Kingdom's insurance sector remained unaffected by a global technical outage,
thanks to the Kingdom’s robust digital infrastructure and advanced cybersecurity
measures. This highlights the sector’s adherence to top-tier technical
standards and its commitment to continual technological advancement in line
with Vision 2030.
In
parallel, the first Insurance Hackathon concluded with the presentation
of several innovative projects. In the insurance services automation track,
Romanah won first place (SAR 50,000), Waei second (SAR 30,000),
and Dafa third (SAR 20,000). In the insurance technology companies
track, Smart Transformation secured first place, followed by The
Decisive and ByNow.
Projects
were judged on creativity, innovation, impact, business model, and market
readiness. CEO Eng. Naji Al-Tamimi praised the hackathon’s success, emphasizing
its role in fostering innovation in the insurance sector and aligning with
Vision 2030 goals to strengthen the financial industry. The success of this
edition lays the foundation for future hackathons.