Tawuniya, stc ink strategic partnership agreement

The Company for Cooperative Insurance (Tawuniya) signed an agreement with stc, a Saudi telecom major, to build a strategic partnership for implementing joint projects and launching digital initiatives aimed at improving customer experience.

In addition, the partnership will work to introduce innovative products and offers that will attract new categories of customers, provide various digital services and open more markets in the digital insurance space.

The collaboration aims to enhance joint work, take advantage of promising market opportunities, exchange experiences and knowledge to serve the strategic directions of both companies, improve customer service quality and support national economy.

Tawuniya’s Chief Strategy Officer Marwan Al Ghamdi said the company is activating programs and initiatives in line with its 2025 strategy to reach excellence in customer service through the “Technology First” pillar.

The insurer is currently building strategic partnerships with established players, such as stc, which helps establish an integrated insurance system that serves customers from all sectors.

Al Ghamdi added that the partnership with stc will be a unique model, combining the capabilities of the two entities. He also pointed out Tawuniya's plans to benefit from the distinctive digital capabilities of stc to innovate projects that help improve the services to customers in the Kingdom.

Meanwhile, Faisal Alsaber, Chief Commercial Officer at stc, said the company’s interest in cooperating and building strategic partnerships falls within the group’s strategy to diversify its investments and expand the use of digital services and products that rely on the use of data, artificial intelligence (AI) and Internet services.

He stressed that the partnership with Tawuniya comes in this context, enabling the two companies to achieve their common goals and align with the objectives of Saudi Vision 2030.