B2B InsurTech, TASWEYA, to unlock millions for Bahrain insurance companies

B2B InsurTech, TASWEYA, to unlock millions for Bahrain insurance companies

The Motor Claims Recovery Platform "TASWEYA“ offered by Braxtone Corporate Services, a subsidiary of Braxtone Group, has graduated from the Regulatory Sandbox of the Central Bank of Bahrain.TASWEYA provides insurance companies with an easy to use and secure market-wide centralized platform to manage documents and exchange payable and receivable motor claims against each other. It also offers auto-reconciliation of statements of accounts.According to Dalal Buhejji, Director for Business Development, Financial Services at Bahrain Economic Development Board, "Bahrain's nimble and agile FinTech ecosystem is the ideal launch pad for startups looking to disrupt legacy industries with new cutting-edge solutions. Following the rise of PropTech, EduTech and HealthTech, InsurTech will be the one to watch as consumers and corporations alike turn away from physical documents towards digital alternatives.“The (InsurTech) sector, according to Buhejji, has witnessed a major resurgence in the third quarter following a slow start to the year, and it is encouraging to see companies like Braxtone using the Bahraini market as a testbed to scale regionally and beyond."Entrepreneurs across the globe turn to the Kingdom for our focus on FinTech as well as initiatives like the CBB's Regulatory Sandbox, which offers entrepreneurs the chance to test out smart solutions in