May 27, 2018

Features

Features
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Pension Reform: Logical Next Step?

A change in the employment law landscape in the UAE would greatly increase liquidity in the market and aid more investment in both traditional and alternative asset clauses, observe Tom Bicknell, Luke Tapp and Andrea Hewitt-Sims.  Discussions around pensions have typically focussed on the indigenous population of the UAE. Traditionally,...

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Are We Making the Right Decisions?

Is catastrophe modelling the only way to mitigate Nat CAT losses to reduce the underwriting gap, asks Aftab Hasan. Any natural calamity or catastrophe is a natural disaster that leads to financial, environmental, and/or human losses. In legal usage, it is stated as ‘An act of God’ which describes it as a...

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Takaful sees positive growth

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...

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Life Regulations Debated

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...

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Regtech: Has insurance evolved?

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...

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Industry on Transformative Path

“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...

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Heart disease, cancer top claims causes

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...

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Of Pools, Catastrophes and Balance

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...

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Innovation that Brings ROI

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...

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Consumer Protection is Paramount

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...

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