Bupa Arabia at forefront of digital transformation in health insurance sector

Al-Shereef Hamideddin, director of marketing and customer experience design at Bupa Arabia.
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Updated 20 August 2022
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Bupa Arabia at forefront of digital transformation in health insurance sector

The COVID-19 pandemic accelerated the digital transformation of the Saudi insurance market, aided in part by the Kingdom’s strong telecommunications and information technology infrastructure, the availability of 4G and 5G network services, and the widespread usage of smartphones. This launched a frantic race among insurance companies to develop their apps to serve millions of customers, meet their needs in ways they want, and at their convenience.

This competition among insurance companies to win the digital transformation race has resulted in major development of the sector, which is a key pillar of the national economy. The insurance sector grew by 8.4 percent during 2021, and the total written premiums reached SR42 billion ($11.2 billion), according to an annual report of the Saudi Central Bank.

Bupa Arabia has been at the forefront of Saudi insurance companies that adopted their operations to the evolving technological landscape and has played a leading role in the digital transformation of the insurance sector, pioneering the development of cutting-edge software solutions and apps.

Al-Shereef Hamideddin, director of marketing and customer experience design at Bupa Arabia, said the company has established a special department to lead its digitization efforts. This department has been instrumental in designing the company’s strategies, with the aim of improving the delivery of health services to its customers.

Moreover, Bupa Arabia has made significant investments to develop digital solutions, which in turn has contributed to enhancing the customer experience.

“The contribution of Bupa Arabia in advancing the development of this sector, includes the development of our app, which facilitates members to access many services from the comfort of their homes, such as booking appointments in hospitals, selecting clinics and specialties, choosing where to receive medication, receiving medical approvals, as well as booking virtual appointments with specialized doctors in less than a minute.”

These features, which previously took longer, are now available at the touch of a button,” Hamideddin said, adding that the app processes hundreds of thousands of approvals in an hour.

He pointed out that 22 million transactions have so far been carried out through the easy-to-use app, which has a rating of 4.5 on the App Store. Moreover, 98 percent of reimbursement claims have been processed digitally.


Alshaya Group brands join Trendyol in the GCC

Updated 19 March 2025
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Alshaya Group brands join Trendyol in the GCC

Trendyol, one of the world’s leading e-commerce platforms, and Alshaya Group, one of the leading international retail franchise operators, have announced that Alshaya Group’s American Eagle, Bath & Body Works, and H&M brands are joining its GCC marketplace.

Shoppers  in Saudi Arabia and UAE can now access these brands directly on Trendyol with more brands and additional markets set to follow in the near future.

This development builds on the partnership between Trendyol and Alshaya in Turkiye, where Bath & Body Works and Victoria’s Secret have been available for several years. Last November, the collaboration extended to Saudi Arabia with the launch of American Eagle, Bath & Body Works, and H&M on Trendyol. In the UAE, H&M and American Eagle launched in March, with Bath & Body Works set to launch soon.   

Mohamad ElAnsari, CEO of Trendyol Gulf, said: “We are incredibly excited to partner with Alshaya and onboard a selection of Alshaya’s best-loved brands, which will undoubtedly add to the appealing product mix we offer to Gulf shoppers. This partnership further validates our value proposition of commerce enablement to both local and regional retailers and global brands.”

Rob Silsbury, vice president, marketing & online at Alshaya Group, said: “We are really pleased to continue to be working with Trendyol to bring our customers across the region even more ways to experience our brands. Our customers are at the heart of our strategy, and a vital part of this is growing the choices we bring to them — we know that many of them use Trendyol as well as visiting our stores, and we look forward to growing the number of our brands that they can see on the platform.”     

Since its launch in the GCC a year ago, Trendyol has become one of the region’s most downloaded shopping apps, attracting over three million customers and featuring 80,000 sellers in the Gulf. The platform currently processes more than one million orders per month during peak periods, with 80 percent of these orders originating from Saudi Arabia.

The extended agreement with Alshaya Group will see the latest trends from the brands’ latest collections be made available on Trendyol.


Umm Al Qura for Development and Construction announces retail subscription coverage of 20 times

Updated 19 March 2025
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Umm Al Qura for Development and Construction announces retail subscription coverage of 20 times

Umm Al Qura for Development and Construction, the owner, developer and operator of MASAR Destination — one of the largest redevelopment projects in Makkah, recently announced the successful completion of the offering period for retail investors (Retail Subscription Period) for the company’s initial public offering.

The retail subscription process, comprising of a maximum of 13,078,614 shares, representing 10 percent of the total offer shares, commenced on March 5 and ended at 11:59 p.m. on March 9.

It saw participation from 1,048,530 subscribers, indicating a coverage of 20 times, with a total demand of SR3.93 billion ($1.05 billion). Individual subscribers will receive a minimum of 10 shares each, while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of 1.0316 percent.

The final offer price for the offering was set at SR15 per share, pricing at the top of the range, implying a market capitalization of approximately SR21.58 billion (approximately $5.75 billion) at listing.

For more information about the IPO and the Company’s prospectus, visit the IPO website: ipo.ummalqura.com.sa/en.

Highlights of the offering

  • The CMA and Saudi Exchange approvals have been obtained for the offering and listing as outlined below.
  • The company’s substantial shareholders and the shareholders acting in concert will be subject to a lock-up period of 6 months, which will begin from commencement of trading of the shares on the Saudi Exchange.
  • The shares will be listed and traded on the main market of the Saudi Exchange following the completion of the IPO and listing formalities with the CMA and the Saudi Exchange.
  • The offering shall be restricted to the two following groups of investors:

Tranche (A): Participating parties: This tranche comprises investors eligible to participate in the book-building process in accordance with the Instructions for Book-Building Process and Allocation Method in initial public offerings, as issued by the Capital Market Authority, including investment funds, companies. These parties include investment funds, qualified foreign companies and institutions, GCC corporate investors and other foreign investors under swap agreements (said investors shall be collectively referred to as the “Participating Parties” and each as a “Participating Party”). The number of offer shares to be provisionally allocated to the Participating Parties effectively participating in the book-building process is 130,786,142 Offer Shares, representing 100 percent of the offer shares. In the event there is sufficient demand by individual investors (as defined under Tranche (B) below), the lead manager, in coordination with the company, shall have the right to reduce the number of offer shares allocated to participating parties to a minimum of117,707,528  offer shares, representing 90 percent of the offer shares. Final allocation of the offer shares to the participating parties will be made through the joint financial advisers following subscription by individual investors, as the joint financial advisers deem appropriate in coordination with the issuer, using the discretionary share allocation mechanism.

Tranche (B): Individual investors: This tranche includes Saudi natural persons, including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi individual, who is entitled to subscribe for her own benefit in the names of her minor children, provided that she proves that she is a divorcee or widow and the mother of her minor children, any non-Saudi natural person who is resident in the Kingdom, or GCC nationals, in each case, who have an investment account and an active portfolio with one of the receiving agents and are entitled to open an investment account with a Capital Market Institution (collectively, the "Individual Investors", and each an "Individual Investor"). A maximum of 13,078,614 offer shares, representing 10 percent of the offer shares, shall be allocated to individual investors. In the event that the individual investors do not subscribe in full for the offer shares allocated to them, the joint financial advisers may reduce the number of offer shares allocated to individual investors in proportion to the number of offer shares subscribed for thereby.

The Law of Real Estate Ownership and Investment by Non-Saudis promulgated by Royal Decree No. M/15 dated 17/04/1421H (corresponding to 19/07/2000G) (hereinafter referred to as the “Law of Real Estate Ownership and Investment by Non-Saudis”) prohibits non-Saudi from acquiring ownership, easement or usufruct over real property located within the boundaries of the cities of Makkah and Madinah. This includes natural persons who are not nationals of Saudi Arabia, non-Saudi companies and Saudi companies that he establishes, participates in establishing, or owns shares in, any natural or legal person who does not hold Saudi nationality with some limited exceptions. However, under the special controls excluding the companies listed in the Saudi Stock Exchange, the phrase (non-Saudi) has the meaning as per the The Law of Real Estate Ownership and Investment by Non-Saudis issued by the Authority on 27/07/1446H (corresponding to 27/01/2025G). It allows foreigners to invest in Saudi companies listed in the Saudi Stock Exchange that own properties within the boundaries of the cities of Makkah and Madinah , provided that: (i) the foreign strategic investor does not own shares in the Listed Company and (ii) at all times does not exceed 49 percent of the shares of the listed company, which are not jointly owned by persons of natural and legal capacity. Accordingly, the foreign strategic investor is excluded from the investors targeted for the offering, and the ownership of natural and legal persons who do not collectively hold Saudi citizenship shall not exceed 49 percent of the company’s shares at all times.

 

 


Design Your Future announces Advisory Committee for 2nd edition

Updated 18 March 2025
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Design Your Future announces Advisory Committee for 2nd edition

Design Your Future had announced the formation of its Advisory Committee for the second edition. Comprising professionals from diverse industries and students from different universities. The committee will provide strategic directions to help DYF continue its mission of guiding young individuals toward clarity in their career paths and decision-making.

Building on the success of the first edition, DYF remains committed to bridging the gap between education and the professional world. DYF serves as a guide—offering insights, industry exposure, and mentorship that enable students, young professionals, and parents to make informed choices about their futures.

The Advisory Committee for the second edition includes Zahraa Taher as chairperson, alongside respected industry leaders Dr. Zainab Al-Tooq from the Higher Education Council, Shaikha Buallay from INJAZ Bahrain, Maryam Rahimi from Tamkeen, Kalyan Subramanian from KPMG, Nabeela Al Qaseer, a life coach, and Zainab Assiri, a training consultant. Representing the voice of students, the committee also welcomes Fatima Hussain from the University of Bahrain, Mariam Almardini from King’s College London, Ali Aryan from Bahrain Bayan School, and Ahmed Almerbati from the British University of Bahrain.

Aligned with Bahrain’s Vision 2030, the Advisory Committee will play a key role in ensuring DYF continues to foster connections between education and industry, enabling young individuals to gain exposure to professional environments, understand market needs, and develop the right perspectives to navigate their career paths.

The second edition of DYF will continue to expand its initiativesto provide participants with practical exposure and real-world guidance. The DYF Business Show will integrate students into corporate teams, offering firsthand experience and industry insights. The DYF Podcast will feature discussions on career pathways, industry trends, and the evolving job market, providing young individuals with valuable perspectives. The Skills Hunt initiative will encourage participants to sharpen their decision-making, adaptability, and technical skills in a competitive and engaging environment. The MC’s Competition will identify and support students with strong public speaking potential, while interactive workshops will expose participants to leadership, communication, financial literacy, and entrepreneurship. 

The DYF Education & Future Design Forum will bring together educators, professionals, and students to explore the evolving role of education in shaping career development.

Taher said: “With the second edition of DYF, we are excited to work with a team of advisers whose expertise will help shape this initiative. DYF is about clarity—ensuring that students and young professionals have access to the right perspectives, networks, and insights to make informed career decisions.”


Olayan Financing Company and IBM Consulting to implement next-generation SAP solutions

Updated 18 March 2025
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Olayan Financing Company and IBM Consulting to implement next-generation SAP solutions

Olayan Financing Company has partnered with IBM Consulting to execute a groundbreaking SAP digital transformation program, setting a new benchmark for innovation and operational excellence in the region. This ambitious initiative lays a solid foundation for Olayan Financing Company’s future growth, enabling streamlined management of its assets, diversified business lines, and expansive real estate portfolio.

The transformation program, which encompasses 41 legal entities, involved Olayan Financing Company’s migration from SAP ECC to SAP S/4HANA and the integration of SAP Ariba along with other advanced SAP solutions. IBM Consulting deployed its IMPACT accelerator and industry-leading SAP transformation methodologies, adhering to clean core principles to minimize customizations. This approach ensured that the tailored solution met both the strategic aspirations and operational requirements of Olayan Financing Company.

Highlighting the success of the partnership, Dr. Nabeel M. Al Amudi, CEO of Olayan Financing Company, remarked, “At Olayan Financing Company, we continuously strive to set new standards in operational efficiency and digital innovation. This partnership with IBM Consulting has enabled us to implement transformative technology that supports our strategic growth objectives, enhances our operational resilience, and aligns with our vision for sustainable and scalable success. We take pride in leading by example in adopting advanced technologies that redefine industry benchmarks in the region.”

Khaled Al Ofaysan, country head and managing partner for IBM Consulting in Saudi Arabia, stated: “We are delighted to have successfully partnered with Olayan Financing Company to realize their complex SAP transformation program in less than 12 months. This project highlights our proven expertise in delivering sophisticated SAP solutions with precision and efficiency, leveraging the latest SAP technology and a deep understanding of our client’s needs and strategic objectives.”

“Olayan Financing Company’s forward-thinking approach to modernizing its core technology infrastructure underscores its leadership among financing conglomerates. By investing in robust, scalable solutions and working with global consulting firms like IBM Consulting, OFC demonstrates a commitment to staying ahead of market changes and leveraging innovation for strategic growth. We at SAP are proud to support organizations like Olayan Financing Company as they set new standards for digital transformation in the Kingdom,” said Dr. Fahd Nawwab, vice president, SAP Saudi Arabia.


Cisco redefines data center architecture with new Smart Switches

Updated 18 March 2025
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Cisco redefines data center architecture with new Smart Switches

Cisco announced a family of data center Smart Switches, disrupting traditional data center network design by enabling networking and security services in a compact all-in-one solution. Utilizing programmable AMD Pensando data processing units, the switch functions as a high-capacity, multifunctional service-hosting device, architecturally transforming data centers to simplify their design and make them more efficient. 

Cisco’s first integrated offering, the Smart Switch with Cisco Hypershield, introduces a new approach to securing AI data centers by fusing security directly into the network fabric.

As AI workloads multiply, building and managing data centers has become much more complex. Data center operators require a simpler way to design, build, and deploy infrastructure to fully benefit from AI. AI applications must sit where they are needed, whether a massive large language model sitting in centralized hyperscale facilities or a network drone monitoring crop irrigation at the very edge of
the network. 

This shift in where data is created, accessed, and stored requires a new type of simplified data center infrastructure–one that integrates compute, storage, networking, and security in new ways, and allows for automated and predictive operations via simplified management platforms.

“Data center infrastructure needs be reimagined for both AI training and inferencing workloads that dwarf even the largest enterprise jobs of the past,” said Jeetu Patel, EVP and chief product officer, Cisco. “Simply upgrading data center infrastructure with higher ‘speeds and feeds’ switches does not address the requirements of modern data centers, which require acceleration of security and network services natively within the data center fabric.”

“Cisco’s innovative approach to data center design, leveraging leadership AMD Pensando DPUs, marks a significant milestone in transforming enterprise infrastructure to address the evolving security demands of data center networks while dealing with the fast paced AI deployments,” said Soni Jiandani, senior vice president and general manager, Networking Technology and Solutions Group, AMD. 

“Our collaboration with Cisco enables enterprises to achieve high-capacity throughput and impressive network security without compromising on workload performance on Cisco UCS servers or Hypershield enabled platforms. Together, we are paving the way for a new era of intelligent, adaptive, and secure data centers.”