
TAQA Distribution, ADGM enter digital billing solution deal
UAE - TAQA Distribution, a subsidiary of Abu Dhabi National Energy Company (TAQA), has signed a strategic agreement with ADGM, a leading international financial Centre in the region to enhance utility management services for residential tenants withing its jurisdiction on Al Maryah and Al Reem Islands.
The agreement was signed in the presence of Omar Al Hashmi, CEO of TAQA Distribution, and Hamad Al Mazrouei, CEO of ADGM Registration Authority.
Under this partnership, TAQA Distribution will manage billing, payment processing, and customer relationship management (CRM) services related to authority fees, streamlining the tenancy experience for over 16,000 residents across both islands.
By integrating tenancy related fees into a bespoke power and water utilities bill within the ADGM system, this collaboration simplifies the process from lease application to bill payments and account closures. This initiative aligns with the Abu Dhabi Program for Effortless Customer Experience, ensuring a seamless, fully automated journey at every stage of the tenancy lifecycle.
Over the next 12 months, tenants will transition to the new system, benefiting from enhanced service efficiency and digital-first solutions. As part of the agreement, TAQA Distribution will manage the collection and administration of Authority fees related to tenancy contracts, further streamlining processes for residents.
Omar Alhashmi, Chief Executive Officer of TAQA Distribution, said: 'This partnership with ADGM emphasizes our commitment to delivering innovative, customer-centric solutions that enhance operational efficiency and improve service delivery. By integrating technology and automation, we are transforming how residents interact with their utilities, by gradually combining a host of other services rendered for the customer across Abu Dhabi within a unified bill, this makes the process of payments in the emirate simpler and faster."
Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, said: 'Our strategic collaboration with TAQA Distribution introduces a structured, efficient approach to utility management for Al Maryah and Al Reem Islands. By integrating TAQA Distribution's expertise within ADGM's ecosystem, we are enhancing resident experience and service standards. This partnership reflects our broader commitment to strategic initiatives that strengthen Abu Dhabi's urban infrastructure and support its long-term growth.' - TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Gulf Business
17 hours ago
- Gulf Business
RIQ: IHC names new AI-native reinsurance platform
Image: ADGM/ For illustrative purposes International Holding Company ( The new entity is headquartered in Abu Dhabi Global Market (ADGM), the international financial centre in the UAE capital. The announcement follows last month's launch of the platform and marks a key milestone in a strategic partnership between IHC, BlackRock, and Lunate aimed at reshaping the global insurance sector through innovation, scale, and collaboration. Read: RIQ is positioned as a next-generation reinsurance company, combining artificial intelligence and human expertise to advance global risk transfer. Here's what RIQ will handle Its AI-native infrastructure is designed to enhance underwriting accuracy, capital deployment, and real-time decision-making. The platform will offer reinsurance solutions across Property and Casualty (P&C), Life, and specialised segments, with an initial focus on high-growth markets. RIQ's strategy emphasises the role of AI in improving risk selection, cost efficiency, and client servicing. RIQ's Board of Directors will be chaired by Dr Sultan Ahmed Al Jaber and includes Mohamed Hassan Alsuwaidi, Syed Basar Shueb, Sofia Abdellatif Lasky, and Mark Wilson. 'With the unveiling of RIQ, we take a bold step toward shaping the future of global insurance,' said Al Jaber. 'RIQ reflects our ambition to build a trusted, tech-forward reinsurance champion that connects global capital with high-growth markets, all from the heart of Abu Dhabi's thriving financial center.' The company is progressing through final regulatory steps with the Financial Services Regulatory Authority (FSRA) of ADGM ahead of full operational launch. RIQ is supported by more than $1bn in initial equity commitments and is targeting over $10bn in liabilities. Its backers say the platform is designed to transform both regional and global reinsurance markets. 'RIQ is the embodiment of IHC's vision to invest in the next frontier of global financial services,' said Syed Basar Shueb, CEO of IHC and board member of RIQ. Mark Wilson, CEO of RIQ, added, 'Our new name signals our long-term commitment to building a high-performance, AI-native reinsurance company with the scale and agility to lead in a rapidly changing world.' RIQ will continue to build its team, pursue selective partnerships, and expand global capabilities with the continued support of BlackRock and Lunate.


Arabian Business
2 days ago
- Arabian Business
IHC launches AI-native reinsurance platform RIQ from Abu Dhabi with $1bn backing
International Holding Company (IHC), the UAE-based global investment firm, has launched Reinsurance Intelligence Quotient (RIQ), a new AI-native reinsurance platform headquartered in Abu Dhabi Global Market (ADGM). Backed by more than $1bn in equity commitments and supported by strategic partners including BlackRock and Lunate, RIQ is positioned to become a transformative force in global insurance and risk transfer. The launch of RIQ marks the next phase in IHC's ambition to build a technologically advanced, capital-strong reinsurance entity designed for the future of global risk. IHC launches RIQ reinsurance platform in Abu Dhabi With real-time AI-driven analytics at its core, the platform will focus on enhancing underwriting precision, accelerating capital deployment, and addressing the complex needs of clients across Property and Casualty (P&C), Life, and specialised insurance segments. The platform's launch also signals Abu Dhabi's continued emergence as a hub for innovation in financial services, with RIQ establishing its headquarters within the ADGM, the capital's rapidly expanding international finance centre. Dr. Sultan Ahmed Al Jaber, Chairman of RIQ, said: 'With the unveiling of RIQ, we take a bold step toward shaping the future of global insurance. RIQ reflects our ambition to build a trusted, tech-forward reinsurance champion that connects global capital with high-growth markets, all from the heart of Abu Dhabi's thriving financial centre.' Syed Basar Shueb, CEO of IHC and Board Member of RIQ, said: 'RIQ is the embodiment of IHC's vision to invest in the next frontier of global financial services. Backed by AI, robust capital, and strategic alignment with world-class partners, RIQ is set to elevate the insurance and capital markets ecosystem across the region and beyond.' Mark Wilson, CEO of RIQ, said: 'We are proud to officially launch RIQ. Our new name signals our long-term commitment to building a high-performance, AI-native reinsurance company with the scale and agility to lead in a rapidly changing world. Our board's collective experience and our strategic partnerships provide an exceptional foundation for sustainable global growth.' Currently progressing through final approvals from the Financial Services Regulatory Authority (FSRA) of ADGM, RIQ will begin full operations in the coming months. The company has already outlined a roadmap for global expansion, including talent acquisition, infrastructure development, and the pursuit of selective partnerships to drive innovation and long-term value. RIQ aims to manage more than $10bn in liabilities in the coming years, while contributing to the development of a resilient, digitally advanced insurance ecosystem anchored in Abu Dhabi and built for global reach.


Zawya
2 days ago
- Zawya
IHC reveals ‘RIQ' as official name of new global reinsurance platform
IHC, the global investment company focused on building dynamic value networks, today announced the official launch of Reinsurance Intelligence Quotient (RIQ), the newly named global reinsurance platform based in ADGM (Abu Dhabi Global Market), the international finance centre in Abu Dhabi. The unveiling of the brand marks a significant milestone following the announcement last month and underscores the collective ambition of IHC, BlackRock, and Lunate to redefine the global insurance landscape through innovation, scale, and strategic collaboration. RIQ represents the fusion of human expertise and advanced artificial intelligence to establish a new benchmark in global reinsurance. The new platform has been established to serve as a next-generation reinsurance entity purpose-built for the future of global risk transfer. The opportunities presented by AI in risk selection, cost management and customer service are central to the RIQ strategy. With a strong regional anchor and global aspirations, RIQ will deliver innovative insurance solutions tailored to the needs of clients across Property and Casualty (P&C), Life, and specialised segments, with an initial focus on high-growth markets. The company also announced the formation of its Board of Directors under the chairmanship of Dr. Sultan Ahmed Al Jaber, bringing together a distinguished group of leaders from across the insurance, finance, and technology sectors. The board includes Mohamed Hassan Alsuwaidi, Syed Basar Shueb, Sofia Abdellatif Lasky, and Mark Wilson. RIQ is currently progressing through final regulatory steps with the Financial Services Regulatory Authority (FSRA) of ADGM, as it prepares for full operational readiness and global engagement. RIQ's AI-native foundation remains central to its strategy, enabling real-time insights, enhanced underwriting precision, and optimal capital deployment. Supported by over US$1 billion in initial equity commitments and targeting over US$10 billion in liabilities, RIQ is positioned to transform the regional and global reinsurance landscape. Dr. Sultan Ahmed Al Jaber, Chairman of RIQ, said, 'With the unveiling of RIQ, we take a bold step toward shaping the future of global insurance. RIQ reflects our ambition to build a trusted, tech-forward reinsurance champion that connects global capital with high-growth markets, all from the heart of Abu Dhabi's thriving financial center.' Syed Basar Shueb, CEO of IHC and Board Member of RIQ, added, 'RIQ is the embodiment of IHC's vision to invest in the next frontier of global financial services. Backed by AI, robust capital, and strategic alignment with world-class partners, RIQ is set to elevate the insurance and capital markets ecosystem across the region and beyond.' Mark Wilson, CEO of RIQ, noted, 'We are proud to officially launch RIQ. Our new name signals our long-term commitment to building a high-performance, AI-native reinsurance company with the scale and agility to lead in a rapidly changing world. Our board's collective experience and our strategic partnerships provide an exceptional foundation for sustainable global growth.' With the official launch of RIQ, IHC and its partners are laying the groundwork for a transformative force in global reinsurance. Combining AI-native infrastructure, deep capital reserves, and strategic insight, RIQ is uniquely positioned to meet the evolving demands of global risk, drive financial innovation, and reinforce Abu Dhabi's position as a hub for next-generation financial services. As RIQ progresses toward operational readiness, the company will continue to expand its capabilities, invest in top-tier talent, and pursue selective partnerships with the continued support of BlackRock and Lunate, to deliver long-term value to clients, shareholders, and the broader market.