Bahrain’s ‘InsurTech’ sectors facing disruption ahead of Hackathon

The integration of technology and insurance, known as InsurTech, has revolutionized the insurance sector
Bahrain’s ‘InsurTech’ sectors facing disruption ahead of Hackathon
Be the Disrupter: No-code InsurTech Hackathon

An upcoming event, where innovators and developers will gather, will be taking place in Bahrain. The “Be the Disrupter: No-code InsurTech Hackathon,” is organized by Spring Studios, in collaboration with insurance company, Solidarity Bahrain and tech company, General Assembly. 

The Hackathon will include 5 teams and a total of 25 participants, who will work towards solving case studies of real-world challenges affecting the insurance sector. The event will take place at the HP Spring Studios coworking space, situated within the United Tower at Bahrain Bay.

The integration of technology and insurance, known as InsurTech, has revolutionized the insurance sector over the past decade. Advancements in AI, machine learning, blockchain, and big data have greatly improved efficiency, reduced costs, and enhanced customer experiences. As a result, there is a growing need for the insurance industry to adapt and innovate to compete in the market. 

Be the Disrupter: No-code InsurTech Hackathon offers an exceptional platform for those hoping to unveil innovative, customer-centric products and services that can mitigate current pain points. The Hackathon’s objective is to empower consumers with access to faster, more affordable, and personalized insurance solutions. Over the three days, participants will be given access to a wide array of valuable resources, such as mentorship and workshops, facilitating their creative process and honing their problem-solving skills. 

Read more: How 5G technology is transforming businesses in the Middle East

Head of Spring Studios, Zainab Khamis, commented, “The concept of disruptive innovation is not only relevant in the insurance industry but also in the fintech industry. Fintech startups are known for their ability to challenge traditional financial institutions and offer innovative solutions to customers. 

As the Head of Spring Studios, Zainab Khamis highlights, disruptive innovation is key to transformation in the insurance industry, as it also applies to the fintech industry. The need for creativity and innovation is crucial in building the next fintech startup, and Spring Studios is committed to supporting this by offering resources, expertise, and support to fintech entrepreneurs who are pushing new ideas and transforming the industry.

Husain Sabt, Head of Information Technology at Solidarity Bahrain, added, “We have always been at the forefront of innovation in the insurance sector and consistently strive to improve the products and services for our customers. We are excited to see the insurtech paradigm shift that comes out of this hackathon and move towards our vision as the insurtech leader in the Kingdom.

Stephen Kirsch, Director of General Assembly Bahrain, echoed Spring Studio’s sentiment, adding, “We are proud to be partnered with Spring Studios and Solidarity in this hackathon. It fosters innovation, and it aligns with our mission to provide young Bahrainis the opportunity to leverage tech for practical purposes. We are excited to support participants in their efforts to create new possibilities for society.”

Be the Disrupter: No-code InsurTech Hackathon invites Bahrainis who are recent graduates or have some work experience, possess an entrepreneurial spirit, and have an interest in InsurTech. The most innovative teams can anticipate cash prizes, an exclusive opportunity to pitch their business ideas to industry stakeholders, including the management of Solidarity and HP Spring Studios team, to co-build their idea into a profitable business. 

Potential participants are urged to make the most of this transformative opportunity by submitting their applications to before the deadline of August 12. 

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