June 25, 2019

Features

Features
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IA, IBG discuss administrative fines

The Insurance Business Group gathered a few members within the industry to discuss the recent amended regulations on administrative fines. The role of an industry regulator is ever evolving, working to maintain and uphold international standards of compliance for the market participants.  Many of the regulations set up by the...

L-R Emir Mujkic, director, Insurance Ratings, S&P Global, Fadi Hindi, CEO, Takaful Emarat, Anil Dixit, senior vice president, Investments, ADNIC, Ayman El Hout, CEO, UAE, Marsh at the S&P Global Middle East insurance briefing.

A Snapshot of the Insurance Industry

S&P Global Ratings recently laid out a few expectations and opportunities for the insurance industry during a presentation. A Premium report. S&P Global Ratings gave a briefing on the insurance industry recently, highlighting growth opportunities, challenges, regulatory contributions and so on. Speaking about the benefits of the regulatory focus on...

Reshaping Reinsurance Regulations in the UAE

Reshaping Reinsurance in the UAE

Wayne Jones and Ben Gray review the recently issued reinsurance regulations and its impact on the insurance industry in the UAE. Until recently, regulation of reinsurance in the UAE has been relatively non-existent. The UAE industry has been free to arrange its reinsurance cover within the overall regulation of insurance in...

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Rethinking Humans & Technology

Suresh Nair looks at some of the human capital challenges the insurance industry must prepare for as the technological era gains momentum. Bill Gates is once reported to have famously remarked that if the top 30 executives were taken away from Microsoft it would become an ordinary company. This very...

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Consolidate, Invest, Innovate

Saif Al Jaibeji believes consolidation and investment in technology will enable innovation within the industry. About 98 percent of the health insurance companies outsource their policies to a Third Party Administrator (TPA). Among the 23 TPAs  in Dubai, seven companies control the majority of the business, by about 90 percent,...

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Over 300 industry leaders convene to discuss takaful

Across two power-packed days, an engaged audience of over 300 key industry leaders gathered from various markets comprising the GCC, Asia, Africa, Europe & USA, witnessed critical insights unfold at the 14th edition of the World Takaful & InsurTech Conference (WTIC 2019). Convened by Middle East Global Advisors, the World Takaful &...

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Towards a Mature Takaful Industry

Oussama Kaissi calls for uniformity in takaful regulations around the world to add maturity to the industry and give impetus to the international expansion of takaful as a principle and business model. Islamic principles of risk-sharing rule out conventional insurance, because it tends to be offered by companies for the...

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6 Principles of Insurance

M. Rajendran explains why insurance companies cannot afford to ignore the basic truth of honesty and trust while selling cover to their customers. Insurance relies on trust. The policy provider has to keep to their word and pay out when an unfortunate incident happens. Therefore the insurance provider needs to...

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Innovate or Perish

Are health insurance companies doomed to perish if they don’t invest in technological and transformative advancements? A Premium report. Health insurance is now in a transformative phase and it is now becoming a requirement for survival and growth in a competitive market. RGA Middle East recently conducted its fourth annual...

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The ‘Moral’ Hazard

User charges employed in the health insurance system bring equilibrium to the issue of healthcare cost versus benefit, writes Dr. Faraz T. Khan. Given the complexities of healthcare delivery, costs of healthcare services are not always in the reach of the consumers who may need to utilise these services without...

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