May 26, 2020

Risk Management

Risk Management

MENA Reinsurers Seek to Diversify

MENA Reinsurance look for alternatives to increase their earnings, according A.M Best’s latest report. Many Middle Eastern economies are now facing challenges as a result of the low oil price environment experienced since the end of 2014, with lower revenue increasing pressure on government finances (as seen by the erosion...


Innovation is the Insurance against Irrelevance

Insurers are now setting out to adopt automation in their processes and operations– which in many cases means scaling up to deliver more material benefits on simple business processes – as part of expansion efforts. Mohammad Alhawari examines market trends in automation, and how essential a holistic and integrated approach...


Insuring Bitcoin Transactions

How we purchase goods and services has changed. Just as smartphones are poised to completely replace cash and credit cards, cryptocurrency emerged to become the latest in convenient digital currency transcending geopolitical borders, writes Ramzi Ghurani. Insurance industry trends indicate that cryptocurrency and the technology behind cryptocurrency (blockchain) may completely...


Brokers at risk

When brought closer to the executive circle, brokers can help show to their client that strategy planning and risk management should not operate in silos, but integrated and managed so that an entity can take more calculated risk to go where its competitors fear, advises Melissa Aoun. As an insurance...


Reservation of Rights

The Risk Management Society’s latest report on Reservation of Rights helps prepare risk managers to understand, anticipate and respond to unexpected crises. Businesses continually strive to manage the totality of their risks through robust risk management programs that capitalise on financial strength initiatives and utilize weaknesses as potential opportunities for...


The ‘Other’ Side of GI

Syed Danish Ali sheds light on ‘the other side’ of commercial general insurance and explains why it is seen as so esoteric and mysterious. The oil crisis has certainly shaken the GCC markets. Many companies in the industry realise that they cannot remain addicted to oil revenues and must diversify...


The challenge of international risk management

Multinational companies are showing increasing need for global insurance programmes, but what are the challenges associated with this need? Sam Wakerley and Paul Wordley explain. Companies are becoming increasingly global, with branches in multiple locations and assets held around the world. In the Middle East in particular, we have seen...


A game changer in a risk-ridden world

Supply chain disruptions are one of the most complex and multi-faceted threats that businesses are grappling with, affecting their credibility and profitability, writes Capt. Manoj Kumar. Gone are the days when a comprehensive marine insurance policy was deemed sufficient for business organisations to have peace of mind. With the fast...


Gaining a competitive advantage

The rise of operational risk management is driven in large part by the need to achieve efficiencies, remove duplication and improve margins, notes Wissam Yaccoub. We live in a time of extreme uncertainty where economic, political, social, and technological advancements are dramatically transforming the landscapse for businesses and threatening traditional...


Adapting to Climate Change

Insurers in the MENA region need to consider a new co-opetition business model to incorporate the volatility of weather changes, write Tom Larsen and Maiclaire Bolton. The Middle East and North Africa (MENA) region has been recognised as a leader in population and economic growth, and projections expect the region...

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