Krishnamurti Prabhakar addresses the issue of price in a fiercely competitive environment and suggests winning strategies to overcome it. Bertrand Russell once said: “War does not determine who is right – only who is left.” This aphorism by this prescient writer is poignantly relevant in today’s challenging times. The GCC...
Dr. Bassel Hindawi outlines industry developments and regulatory perspectives that will impact favourable growth of Takaful. Future prospects of the Takaful business depend heavily on dealing with the challenges facing Takaful, and converting these challenges into opportunities. Indeed, the Takaful industry needs to develop so that it can contribute to...
The second MENA Insurance Barometer published by Qatar Financial Centre Authority and launched at the Multaqa Qatar 2014, reflects positivity in the region’s insurance sector. Qatar Financial Centre (QFC) Authority launched the second MENA Insurance Barometer at the opening of the eighthMultaQa Qatar Conference in Doha, indicating a strengthening of...
Shyam Shankar highlights a few innovative approaches to enhance the bancassurance sector. Technological advancements and fierce competition in the banking sector have made most banks move away from the traditional banking methodologies of just accepting deposits and granting loans, to sophisticated extended banking services like ATMs/EDMs, internet banking, mobile apps,...
The global bancassurance market still has a long way to go, owing to long drawn effects of the 2007 financial crisis, notes Tobias Schneider. The distribution of insurance products through banks has been a success story in many countries around the world in recent decades, especially in relation to life...
Thomas Bicknell examines the new accounting and financial instructions by the Federal Insurance Authority, released for consideration for insurers. Towards the end of last year, the Board of Directors of the Federal Insurance Authority released for consultation a new set of financial and accounting instructions for insurers. Following feedback from...
Farid Chedid, CEO, SEIB Insurance recently spoke about superior customer services, challenges in the current market conditions and solutions to increase market share and business sustainability. A Premium report. The regional insurance industry is currently marred by multiple challenges that seek to hinder growth and sustainability. Addressing these challenges and...
Ben Ogden and Carlijn Ruers illustrate the value of pre-contractual duty of disclosure, even if it is information freely available online. In Sea Glory Maritime Co v Al Sagr National Insurance Company (The “Nancy”) [2013] EWHC 2116 (Comm)the Commercial Court considered (amongst other issues addressed elsewhere in this brief) whether...
Kalpesh Desai takes a look at business imperatives to consider while deploying bancassurance technology. Developing countries all over the world have been experiencing strong growth in bancassurance, a model in which a bank distributes the products of an insurance company. The biggest reason for this is that insurance penetration is...
As parts of the Middle East are emerging from the recession, construction is booming again in the region. But with political turmoil ever-present and the new threat of changing weather patterns, insurance has a critical role to play to ensure that the new boom will not go bust, notes John...
