Ramzi Ghurani reviews pandemic coverage in a dynamic environment. Businesses around the world are only just beginning to understand the total economic impact of the COVID-19 pandemic. In addition to navigating their operations in a world grappled with closures due to emerging variants, there are a host of other emerging...
Declining profits are reflective of rising claims and stiff competition in a still fragmented industry, according to Moody’s latest report. Takaful providers in the Gulf Cooperation Council (GCC) countries reported a decline of over a third in their combined net income during the first half of 2021 (H1 2021) compared...
Employees perspectives towards health is now undergoing massive change as critical decisions behind choosing an employer have begun transitioning, according to Cigna’s latest well-being survey. Owing to the conditions created by the pandemic, virtual health and telehealth has gained significant interest and use, according to Cigna’s 2021 Well-Being Survey. KSA...
This year’s Dive In Festival focused on championing inclusion and mental health awareness at workplace. A Premium report. Breaking barriers and having a global dialogue on diversity and inclusion, the Dive-In Festival 2021 focused significantly on the theme of ‘Active Allyship’, calling on the industry to turn intention to action....
The third Sharm El Sheikh Rendezvous and FAIR General Conference shed light on new opportunities for the insurance industry in a post-pandemic era. A Premium Report. “We do believe in the power of the insurance industry and its ability to develop its means and achieve a great success in the...
Can medical insurers in the Middle East offer new product structures to gain market share, asks Simon Isgar. Health Insurance is by far the largest line of risk, alongside motor insurance in the Middle East. Both lines of insurance tend to be mandatory in several of the GCC countries, save...
Digitally transformed insurance is key to delivering premium employee experiences in the post-pandemic era, writes Tarek Bayaa. Since the onset of COVID-19, insurance has taken on a new significance for UAE organisations. In addition to ensuring compliance with local laws, it is now a key factor in delivering world-class employee...
If underwriters are the mouth of an insurance organisation, then the claims teams are its eyes and ears, opines Dexter Morse. The pandemic notwithstanding, every insurance/reinsurance market across the world has its share of claims and a certain cost associated with it. Increasing demands and rising expectations from stakeholders give...
Rais Kazmi and Omer Mehmood delve into the specificity of IFRS 17 implementation for takaful. Takaful, also referred to as Shari’ah Insurance, is compliant with Islamic principles and is quite popular within the Middle East and South-East Asia region. Global Takaful business has a market capitalisation of around USD24[1] billion...
A series of panel discussions organised by the General Arab Insurance Federation discussed the challenges hindering success for takaful and the opportunities that were available. The General Arab Insurance Federation (GAIF) recently held a virtual event that centred around general takaful, family takaful and retakaful. Held over a series of...
