Liva Group, a leading insurance provider in the GCC announced a new strategic partnership with Relm Insurance, the sole insurer dedicated to emerging industries, to provide tailored insurance policies to businesses which operate within high growth industries for digital assets, artificial intelligence (AI) and biotech.
The partnership aims to address a significant gap existing within the insurance market where traditional insurers frequently fail to cover the substantial companies that operate within the rapidly evolving industry sectors.
By combining Liva Group’s deep knowledge of the market with Relm’s specialized insurance solutions this arrangement hopes to support companies business dealings with complex risks, ensuring that the right coverage is in place to pave the way for corporate innovation and introduce investment.
Expansion Plans and Industry Impact
The agreement was signed at the DIFC AI Campus during DFS Dialogues, an exclusive series of discussions leading up to the Dubi FinTech Summit.
Martin Ruegg, CEO of Liva Group along with Joseph Ziolkowski, Global CEO and founder of Relm Insurance were formal signatories to the agreement with a formal signing being officiated by them, this marked a significant milestone in setting up for insurance infrastructure development for tech enabled enterprises within the region.
Initially, The partnership centred around fostering the growth of both businesses in the UAE and Bahrain with roll out plans into Oman, Saudi Arabia and other key markets within the MENA region. This extension to the region sits alongside the wider push within the region towards digital transformation and rising AI driven industries.
Leadership and Prospects
Rueegg highlighted the importance of nurturing an environment where innovation can flourish, noting that the partnership aligns well with Liva’s vision which is to bring accuracy to the market insights from data-driven perspectives and ensure that the customer experience is enhanced.
He emphasized that providing entrepreneurs and investors with confidence in risk management is crucial for unlocking the full potential of the digital economy.
Ziolkowski stressed the commitment to supporting brokers and clients with tailored insurance services provided by Relm will entail creating tailored insurance solutions suited for complex and dynamic industries.
With a Category 4 license approved by the Dubai Financial Services Authority (DFSA) as well as regulation conducted by the Bermuda Monetary Authority, Relm is positioned to expand its specialized services available to a wider service region.
As the MENA region continues to develop itself into a powerhouse sector that leverages blockchain, AI and fintech. The partnership between Liva and Relm has a key impact on ensuring that businesses operating in these sectors have the support they require to expand and achieve their goals.
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