Phinsys Opens New Regional Office in Dubai to Support Growing Demand from Middle Eastern Insurance Businesses

Published: 08/08/2024

“We welcome Phinsys to the DIFC, recognising their potential to further enrich DIFC’s dynamic ecosystem. Their focus on InsurTech will support a sector that continues to experience significant growth in DIFC. As a global hub for financial innovation, insurance and (re)insurance, DIFC provides exceptional opportunities for growth and expansion. Our commitment to defining the future of finance ensures that Phinsys will capture opportunities from a supportive and forward-thinking environment, allowing them to not only meet, but exceed the expectations of their clients.”
– Salmaan Jaffery, Chief Business Development Officer at DIFC Authority

Dubai, UAE – August 6th, 2024 – Phinsys, a leading provider of intelligent automation solutions for finance, accounting, and regulatory compliance in the insurance sector, is excited to announce the opening of its new regional office in Dubai. This strategic expansion aims to support the increasing number of insurance businesses in the Middle East seeking to enhance their financial data management and automate accounting processes.

The new office, located in Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, follows approval for incorporation of Phinsys Solutions Limited. This milestone underscores Phinsys’ commitment to bringing its innovative technology to the region and partnering with local insurance firms to drive efficiency and compliance.

Phinsys’ presence at the Dubai World Insurance Congress (DWIC), co-hosted by DIFC in May, highlighted their dedication to the Middle Eastern market. Competing in the Dragons Den Pitch event, Phinsys, in partnership with the Lloyd’s Lab, showcased their transformative solutions. Their winning presentation demonstrated the power of data-driven intelligent automation, solidifying Phinsys’ reputation as a leader in the industry across the UK, US, and Bermuda, and now setting sights on the Middle East.

“We are thrilled to expand our footprint into the Middle East,” said Stuart Conibear, Chief Commercial Officer of Phinsys. “Our new office in Dubai will allow us to better serve clients in the region, providing them with the tools to streamline their operations and achieve greater financial accuracy and regulatory compliance.”

Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, said: “We welcome Phinsys to the DIFC, recognising their potential to further enrich DIFC’s dynamic ecosystem. Their focus on InsurTech will support a sector that continues to experience significant growth in DIFC. As a global hub for financial innovation, insurance and (re)insurance, DIFC provides exceptional opportunities for growth and expansion. Our commitment to defining the future of finance ensures that Phinsys will capture opportunities from a supportive and forward-thinking environment, allowing them to not only meet, but exceed the expectations of their clients.”

Andy Woodward, Lloyd's Middle East Manager, commented, “Phinsys has been an outstanding participant in the Lloyd’s Lab, and it’s fantastic to see them continuing to grow and succeed. Their innovative approach is exactly what the insurance industry needs to evolve and thrive in today’s market.”

The new Dubai office represents a significant step in Phinsys’ ongoing journey to support the global insurance industry with cutting-edge technology solutions.

For more information about Phinsys and their services, please visit https://www.phinsys.com.