Aftab Hasan explains how the insurance industry powers on when faced with adversity. With the worst pandemic in the history of mankind, the world bore witness to gross humanitarian disaster and terrible crisis. The Covid-19 pandemic jolted the world economy and triggered the largest global economic crisis in more than a...
Ayman Kattan deliberates on the 4 ‘Musts’ for attracting and retaining the best insurance talent. The challenge posed by changing customer demands is not unique to a single industry. From manufacturing to retail, customers — both businesses and consumers — want what they want, and they want it now. During...
Regulatory changes in the last few years are opening doors for the MENA region’s captive offer, notes Manoj Kumar. Having existed for 60 years, captives are an advanced and recognised concept, and increasingly seen as being at the core of a risk managers’ toolbox to address a variety of complex...
Insurtech startups can be cash-rich, agile and lean, proving to be stiff competition for legacy insurers. But with decades of expertise, the big names can leverage a secret weapon, namely their data, writes Javier Cásedas. Accepted wisdom suggests that, rooted in technology rather than insurance, insurtech companies can leapfrog into...
COVID-19 has been the catalyst for innovation in insurance, unlocking greater levels of customer experience and personalization, observes Michele Grosso. Technology is the key to connecting customers with agents and delivering the context needed to solve problems quickly. Technology provides options and lets customers choose how they engage. InsurTechs are...
A.R. Srinivasan and Mario Nahas take a close look at how insurance is innovating to protect the Gulf states from extreme weather events. This is a key time for the Gulf region to think about the risks it faces and what our industry can do to support the economies and...
Are data protection and data privacy a burden or a welcome change to the GCC insurance sector and its operational framework, questions Simon Isgar. Data can be seen as a highly valued asset in today’s digital world. Many sectors are exploring different ways to harness data as a value point...
GCC insurers face earnings headwinds in 2022 amid more capital market volatility and intense competition, observes Emir Mujkic. Despite weaker economic conditions, insurers in the Gulf region have benefited from either no or only modest exposure to COVID-19-related claims and strong capital market performance in recent years, leading to a...
Automation is making humanity more essential at work, note Bao-Viet Le and Andrew Schwedel. Over the past century, fears of mass joblessness from automation have come and gone in waves. More recently, a series of breakthrough advances in the field of machine learning, alongside new imagination-capturing services such as Amazon’s...
Gallagher Re’s recent white paper on cyber insurance poses a few pertinent issues for the future. By 2040, the Cyber line of insurance will be as significant as a Property or Casualty line of business in the insurance industry worldwide, exceeding these lines in terms of annual reinsurance premium, according...
