ESKADENIA, Amman, Jordan, December 2006

The ESKADENIA insurance event aimed at gathering leaders of the insurance industry in Jordan and neighbouring countries to discuss the most crucial needs that insurance companies have towards adapting efficiency-targeted solutions. The event’s agenda focused on the main factors for insurance companies’ success and the impact of advanced IT systems on insurance operations and profitability.

Leading insurance CEOs, vice presidents, department managers and senior technical staff from local and regional insurance companies attended the event. The program provided the chance for networking among the audience and discussions of the challenging issues raised through the presentations that ESKADENIA’s team provided.

“The new generation of e-systems and e-services have started a technological evolution that will transform the insurance market in the region”, stated Nael Salah, Managing Director of ESKADENIA in his Welcoming Note to the guests.

He added, “The growth in the volume and complexity of the market, as well as the increase in the customer awareness and need for more efficient and cost-effective insurance services have created an inevitable challenge for insurance companies to provide innovative services. Successful companies will thus have to continuously seek to update their tools and procedures to keep up with an aggressively competitive market, maintain lower operational cost, and achieve increased revenue”.

In his speech, H.E. Dr Bassel Hindawi, Director General of the Insurance Commission of Jordan stated; “The Insurance Commission (IC) issued regulations to urge the insurance companies to develop integrated information systems and trial proceedings to computerise their financial, technical and legal businesses. The IC also urged insurance companies to provide a comprehensive database for all uses of information systems, which will assist in extracting financial reports and accounting and statistical data, to enable the IC in obtaining such data easily. In this regard, the IC is still in the process of developing a specialised system for collection and analysing the financial statements of insurance companies within a secure and stable environment".

Following the opening speeches, Oracle’s team presented to the audience an overview about Oracle’s business worldwide and in the region, the advantages that the Oracle technologies provide to enterprises running Oracle-based systems, with emphasis on Oracle Database.

The half-day insurance event was followed by lunch and wrapped up with a closing note by ESKADENIA’s MD Nael Salah who expressed ESKADENIA’s commitment to the modernisation of the insurance sector through automation and IT.

About Oracle

Oracle is the world's largest enterprise software company. For more information about Oracle, visit http://www.oracle.com

About ESKADENIA

ESKADENIA® Software Solutions is active in the design, development and deployment of a range of software products in the Telecommunications, Enterprise and Internet Applications areas. The company is based in Jordan and has sales activities in Europe, the Middle East and Africa. ESKADENIA is a product and market-oriented organisation that assists enterprises and promotes businesses by use of highly effective IT strategies, tools and solutions, and more than 80% of its sales are exported to the Global IT market. ESKADENIA strongly believes that a company's achievement is derived from the success of its Human Resources and the commitment to quality and excellence that each one holds strong to. ESKADENIA endeavours as a team to maintain quality, strive for customer respect, build up perseverance, and foster innovation while handling any task or challenge.

For more information, please contact us at PR_Communications@eskadenia.com, or visit our site, www.eskadenia.com.

Trademarks

ESKADENIA is a registered trademark of ESKADENIA Software Solutions. Oracle, JD Edwards, PeopleSoft, and Siebel are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.