Arab War Risks Insurance Syndicate (AWRIS) has announced a strategic partnership with Ixpan

Arab War Risks Insurance Syndicate (AWRIS), a leading war insurance syndicate based in Bahrain, has announced a strategic partnership with Ixpan, a pioneering platform specializing in risk underwriting/transfer solutions. This collaboration aims to leverage Ixpan’s cutting-edge capabilities, particularly its Political Violence underwriting tool, to boost AWRIS’s operational efficiency and portfolio growth.

Ixpan’s platform offers a secure mechanism tailored to seamlessly align AWRIS’ underwriting guidelines for Political Violence business through its highly adaptable automated risk underwriting tool. By integrating robust features, the solution enables dynamic arrangements of reinsurance capacities, catering to real-time changes in geographical, underwriting, and transactional preferences.

Furthermore, Ixpan’s platform provides real-time tracking of exposure and aggregates, offering AWRIS a comprehensive view of risk accumulation across various geographies and lines of business. This functionality is a must have for AWRIS, operating across multiple geographies and time zones, as it allows for the dynamic deployment of capacities even during non-working hours and holidays.

Imad Abdel Khaled, CEO of AWRIS, reiterated the company’s commitment to growth while maintaining a strong operating performance, as evidenced by a weighted average combined ratio of 65.6% for 2023. He emphasized the importance of embracing technology in the most efficient way by starting to equip the team with the necessary automation and aggregate exposure tools to navigate current market challenges effectively.

Ronald Chidiac, CEO of Ixpan, emphasized the company’s dedication to delivering optimized solutions that enhance the industry at large. He highlighted the platform’s flexibility and configurability, enabling seamless customization to align with the specific underwriting preferences and processes of partners like AWRIS. This partnership underscores AWRIS’s confidence in Ixpan’s innovative solutions, particularly in facilitating dynamic reinsurance capacities deployment and ensuring high levels of reliability, transparency, and efficiency.

About Arab War Risks Insurance Syndicate (AWRIS): AWRIS has been serving as the leading war risks insurance syndicate in the Arab region, operational from 1981, with a primary goal of preserving the interests of national and regional insurance markets, offering a comprehensive range of insurance covers backed up by worldwide A-rated entities. Its mission is to play an important role in benchmarking, pricing, and rating regional war risks and other political compensations through the various protections granted to member companies.

About Ixpan: Ixpan provides automated risk transfer solutions to insurance industry players through efficient, transparent, and secure integrated platforms. The Insurtech, based in Cyprus brings together (re)insurance business expertise and smart use of technology to revolutionize the way risk transfer is performed. Ixpan helps boost capacity providers’ performance.