Takaful and technology leaders converged at the 13th edition of the World Takaful Conference with the aim of fostering industry-wide collaboration. Ebrahim Obaid Al-Zaabi, director general, Insurance Authority (IA), delivered the inaugural address at the conference and stressed on the need for optimising takaful’s contribution to the economic growth of...
An interesting workshop organised by the Life Insurance Market Research Association (LIMRA) in association with the Emirates Insurance Association highlighted some viewpoints of the industry on the recent life insurance regulations draft that was circulated in 2017. Delivering the keynote address, Fareed Lutfi, secretary general of the Emirates Insurance Association...
The recently held Regtech MENA event featured a panel discussion on RegTech in insurance, with Mohammed Hasan Khan, chief risk and compliance officer, RAK Insurance and Anshul Srivastav, chief information officer and digital officer, Union Insurance. The session focused on the evolution of regtech in the insurance industry and how...
“Middle Eastern oil has become an irrelevance [to the US],” said David Hughes, CEO, International eChem. He was speaking at the Onshore Energy Conference 2018 recently held in Dubai. He gave an overview of the energy industry, with particular reference to the oil and gas sector. “The global economy has...
Cardiovascular disease and cancer remain the top causes for claims, with 71 percent of women claiming due to cancer, and 52 percent of men claiming on cardiovascular disease, according to data by Zurich Insurance. Zurich International Life Limited (Zurich) has released claims insight for the industry, based on its analysis...
The insurance industry was dotted with many interesting events recently, some fairly new and some that took different directions from usual business networking. The Art of Work Life Balance The Emerging Young Insurance Professionals (EYIP) celebrated not only its first anniversary but also its first women in insurance event as...
Rising healthcare costs continue to dominate the short to medium term outlook for HR managers in the UAE. Companies need to find ways to increase ROI on benefit plans, writes Steve Clements. Across the Middle East nearly one quarter of employers now spend 20 percent or more of total payroll...
Mustafa O. Vazayil calls for an ombudsman system that will have the consumer’s interest at heart. It’s a welcome development that a new wave of stringent insurance regulations across the Middle East is set to trigger the much needed consolidation leading to fundamental shakeups, pricing discipline and better consumer protection...
The only safe way to avoid falling foul of the underinsurance trap when a claim is made is to ensure a good understanding of the insurance being sought, advises Ian Peters. A recent review by the Royal Institution of Chartered Surveyors concluded that some 80 percent of commercial properties (in...
The insurance sector needs to attract and retain millennials through innovative practises, writes Bayna Al Awani. We are currently experiencing one of the biggest generation shifts in recent history. Baby boomers – almost 10,000 a day – are now retiring, paving the way for millennials to take the helm. But...
