Phinsys, the finance automation software provider for the re/insurance industry, has opened a regional office in Dubai, marking its entry into the Middle East.
The strategic expansion aims to tap into the market with an increasing number of insurers seeking to enhance financial data management and automate accounting processes.
Stuart Conibear, Chief Commercial Officer, Phinsys, commented, “We are thrilled to expand our footprint into the Middle East. 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.”
The new office, located in the Dubai International Financial Centre (DIFC), follows approval for incorporation of Phinsys Solutions Limited on July 29th, 2024.
Phinsys’ presence at the Dubai World Insurance Congress (DWIC) in May highlighted their dedication to the Middle Eastern market.
Phinsys, in partnership with the Lloyd’s Lab, competed in the Dragons Den Pitch event showcasing its winning presentation demonstrating the power of data-driven intelligent automation.
Andy Woodward, Lloyd’s Middle East Manager, said, “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.”
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, added, “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.”
