Solidarity First Insurance (Solidarity) has signed a cooperation agreement with Islamic International Arab Bank (IIAB) to issue insurance policies through online channels and through the bank's branches across Jordan.
This makes Solidarity the first shariah-compliant insurer to sign a bancassurance agreement with the bank.
This is a strategic move by Solidarity to strengthen its banking partnerships and expand and diversify its distribution network.
The agreement will also focus on enhancing digital channels in sales operations by adopting the latest AI and e-commerce technologies. This will contribute to improving the customer experience and facilitate faster and more efficient access to insurance services. This is part of Solidarity's efforts to provide distinguished insurance services to IIAB customers.
At the agreement signing, Solidarity First Insurance CEO Alaa Abdul Jawad said, "This agreement opens new horizons for providing distinguished insurance services to our customers through the Arab Islamic International Bank. The focus on digital channels and AI will enhance the efficiency of insurance operations and provide a seamless and innovative experience for our customers."
IIAB general manager Iyad Al-Asali said, "This agreement is in line with the bank's ongoing plans to develop and provide value-added products and services to our customers, contributing to meeting their needs and aspirations."