Page 113 - July 2024 Issue 632

Frederik Bisbjerg (Deputy CEO - eData Information):
eData Information is an exceptionally financial solid company

hroughout the years, Frederik Bisbjerg, Deputy CEO of eData Information, has dedicated his career
Tto being at the forefront of change in the insurance industry. With a blend of experience as a C-level
executive with insurers and in global TPAs, a co-founder with an MBA in digital insurance, and
leadership roles across top-tier consulting firms and AI & Big Data companies, he has led transformative
strategies for over two decades. His journey has been about bridging the gap between traditional prac-
tices and digital excellence, focusing on improving profitability and efficiency through innovative tech-
nology. Mr. Bisbjerg possesses strong business acumen and is recognized for his ability to build business-
es and forge new, often previously unseen, alliances between business partners for mutual benefits; a skill
refined and honed through many years of working internationally for a top-tier management consulting
firm. Al Bayan Magazine met Mr. Bisbjerg during InsureTek Saudi Arabia and conducted the following
interview.
“We help insurers make faster and more accurate risk assessments”

• Can you give us an idea about your company?
- Founded in 2008, eData helps insurers reduce
their loss ratios by providing advanced, AI-driven
tools that enhance accuracy in underwriting and
claims processing. Our solutions, like Vehicle
Fraud Detection and Vehicle Specification, enable
insurers to assess risks more precisely and detect
fraudulent activities effectively. By ensuring that
policies are priced accurately based on compre-
hensive vehicle data and minimizing payouts on
fraudulent claims, insurers can maintain healthier
loss ratios, reduce unnecessary losses, and
increase overall profitability. Being the leading
MENA frontrunner in vehicle data and intelligence
solutions, eData empowers businesses to make
informed choices. We’re passionate about trans-
forming decision-making through access to critical
insights, fostering transparency, and driving busi-
ness growth. Understanding the power of data in
today’s dynamic landscape, eData provides a
comprehensive, tailored to the specific needs of
the insurance industry. Our robust underwriting,
claims, and consumer products streamline opera-
tions and enhance decision-making for insurers.
Moreover, we help insurers make faster, more
accurate risk assessments with our essential vehi-
cle data. This translates to a smoother process,
improved selection, and competitive pricing.
eData’s claims products accelerate resolution,
leading to enhanced customer satisfaction and
reduced claims costs and operational expenses.
Overall, with our tools and insights, we help insur-
ers make smarter decisions, achieve greater suc-
cess, and revolutionize the way they operate in the
MENA region.
• In which markets do you operate and do you
have expansion plans?
- We are based in Dubai and we have offices in
Oman, Egypt and Saudi Arabia. Nevertheless, we
are looking into expanding to other countries in the
GCC and MENA region especially that our under-
writing products are very MENA region specific
because what we are providing is something that
is very easy to get outside the MENA region.
• What are some challenges that you are facing?
- I think one main challenge is making insurance
companies outside our core markets understand
why underwriting based on comprehensive vehicle
data rather than on the percentage of the vehicle
value is such an important thing to do intuitively.
Another challenge is that we are not very good in
making fast decisions in the region, so even when
everybody decides that this is the right thing to do,
there is quite some time for everything to get run-
ning and since we are not a very big company, we
depend on things happening relatively fast so this
is something that affects us when we are doing our
expansion plans.
• Are you satisfied from your results in 2023
and what are your expectations going forward
into 2024?
- eData Information is an exceptionally financial
solid company so we are proud of that and we
expect a growth of 50 to 80 percent in one year
and around 300 percent in three years. Thus, we
are very optimistic for the future.
113 AL BA Y AN ECONOMIC MAG - ISSUE 632 - JULY 2024