While there are some gains to be seen for the insurance industry, organisations must be prepared for reduced consumer spending and technology-driven distribution, writes Krishna Dhanak. The UAE has continued to rank as the largest insurance market in the MENA region for more than a decade. A well-diversified economy, strong...
Noman Zafar and Raghav Ohri outline the complexities of IFRS 17 and how this standard will influence business decisions in the future. The recent deferral by another year pushes the IFRS 17 implementation date to 1 January 2023 and is a relief to overburdened insurers, many of whom are firefighting...
Ryan Olson gives an overview of phishing/malware distribution using COVID-19 themes. With the onset of the COVID-19 pandemic spreading around the world, many of us have had to adapt our lives to accommodate the new reality. Bad guys are no different. They’ve also adapted and are taking advantage of this...
Few industries are immune to the power of algorithms to transform the way business processes are improved. Nigel Nicholson predicts their impact on asset tracing in the global insurance industry. As a professional who has been working in asset tracing for decades, I deeply admire the community of insurance investigators,...
Marsh captures insights on perceptions of risk management activities and capabilities within organisations in its latest survey. Embedded risk management needs to transcend all levels of management within an organisation. Marsh’s latest MENA Risk Management and Insurance Perception Survey 2019 brings to light the lack of communication within organisations and...
M. Rajendran looks at the sharing economy, its challenges and opportunities for the UAE insurance industry. The sharing economy is experiencing huge growth, especially in the UAE. From shared assets, services and digital platforms to the rise of the freelance market, the sector is creating a number of challenges for...
Stephen Harris and Abhijit Naik examine marine insurance policies in the context of risks posed by war or seizure. Even in the earliest days of marine insurance, risks posed by war or seizure were viewed as especially dangerous to insure. In the eighteenth century, insurers imposed a sweeping “free of...
While solvency positions of insurance companies in the UAE have improved the number of inadmissible assets still poses a risk to many organisations according to analysis by Badri Management Consultancy. “While it is extremely important to meet the minimum benchmark of 100 percent it is also of utmost importance...
Five emerging risks have high relevance to the insurance industry according to Swiss Re’s latest Sonar report. The Swiss Re Institute recently released its Sonar report, outlining some of the key risks that may have an impact on the insurance industry. The identified risks are relevant to life and non-life...
The insurance industry is no different when it comes to transformation, making succession management critical to the business process, writes Thiru Naicker. Succession Management has topped the business agendas of many organisations globally. As organisations seem to be in constant flux with growing attrition rates, restructuring, mergers and other related...
