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World’s leading Takaful forum to deliver InsurTech Stream

World’s leading Takaful forum to deliver InsurTech Stream

Middle East Global Advisors, a leading financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets, will convene the 13th edition of their annual offering – The World Takaful Conference (WTC), in strategic partnership with the Dubai International Financial Centre Authority and supported by the Insurance Authority (IA) on April 09. The forum will take place at the Dusit Thani Hotelin Dubai, UAE.

To be held under the theme of “Differentiation, Innovation & Profitable Growth”, this year’s WTC will feature keynote addresses by H.E. Ebrahim Obaid Al-Zaabi, Director General,Insurance Authority (IA); Abdulla Mohammed Al Awar, Chief Executive Officer, Dubai Islamic Economy Development Centre (DIEDC); Salmaan Jaffery, Chief Business Development Officer, Dubai International Financial Centre Authority and Dave Matcham, Chief Executive Officer, The International Underwriting Association of London (IUA). The forum will also see an exclusive presentation by Yahya Adnan Ahmad, Chief Executive Officer, HSBC Amanah Takaful, on differentiation and leveraging Takaful’s USP to achieve true competitive advantage.

In light of the ongoing disruption of the insurance industry, it has become imperative to deliberate on key suggestions in forming adaptable digital strategies for insurance operators that besides elevating customer experience, lead to long-term economies of scale. Key panels at WTC 2018 will focus on the issues of embracing digitization to increase insurance penetration and drive business growth, the legal and regulatory challenges associated with InsurTech and game-changing technologies that are revolutionizing the Takaful industry.

Leading Technology Gurus comprising Fadi Hindi, Chief Executive Officer, Takaful Emarat;Peter Englund, Senior Executive Officer – Commercial Insurance Middle East, Zurich Insurance Company Ltd; Ambareen Musa, Founder & Chief Executive Officer,Souqalmal.com; Peter Hodgins, Partner, Clyde & Co. & Sanjay Jain, MENA Insurance Leader – Africa, India & Middle East, Ernst & Young, amongst others, will delve deep into these issues with the aim of generating breakthrough insights for the smooth adoption of digitized processes that will chart the way ahead for the insurance industry.

Speaking on behalf of WTC’s Platinum Partner, Fadi Hindi, Chief Executive Officer, Takaful Emarat, said, “I am excited to be a part of the 2018 World Takaful Conference. It is important to come together and exchange ideas in a forum such as this to help move our industry forward. The global insurance industry is changing rapidly, and new technology has changed not only our products but our ways of working. Insurtech is as much about offering better insurance products to our customers as it is about driving efficiencies and excellent customer service.”

Adding further, Mr. Hindi, said, “New technologies such as artificial intelligence and data science can give us insights and abilities to change the face of Takaful insurance in the region. It is as simple as offering clients a customised insurance plan that they can design and buy through a smartphone application or taking a picture of a possession they want to insure for example. Blockchain is also very important for our industry as we secure information and establish seamless payment processes in a fraction of the time that historically has been needed.  Drones are also proving to be useful as they speed up the assessment process across multiple industries. For example – it normally takes about half a day to assess the roof of a house or building, drones can make this happen in 20 minutes or less. The possibilities are endless.”

Speaking ahead of the conference, Peter Englund, Senior Executive Officer – Commercial Insurance Middle East, Zurich Insurance Company Ltd, said, ”We welcome dialogue on priorities between practitioners and regulators. The Annual World Takaful Conference has proven to be an appreciated venue in that regard, as it also provides an opportunity to network with leading stakeholders and thought leaders.”

Time and again, the WTC has also proven to be an ideal launching pad for research and intelligence reports that provide strategic insights to the most pressing issues targeting the industry at large. This year’s edition will see the launch of the Milliman Monitor, equipping Takaful leaders in the regulatory, demographical and technological landscape to take stock of the key industry trends and explore factors that are critical to their organization’s long-term growth. The Milliman Monitor captures the overall and company specific financial results for the year ending 2017 for all publicly listed Takaful and conventional players in the UAE. It not only provides a top-line analysis, but also a bottom-line financial performance of the insurance and Takaful industry in the UAE, whilst also providing insights into the reasons for the strong performance of the industry as a whole.

Other key features for WTC 2018 include: Keynote Addresses by leading Regulatory Authorities and Industry Leaders, Leaders’ Perspective Panel on The Profitability & Sustainable Growth for the Global Takaful industry; Industry Veterans’ Panel focusing on a new vision for Takaful and the way forward & a dedicated WTC exhibition, amongst others.Partners at WTC 2018 include: Takaful Emarat, Milliman & Clyde & Co. Delegates can also stay abreast of the latest updates on the programme, network and connect with other delegates and speakers through Direct Messaging, and engage in live interactive polling across all of the session via WTC’s very own digital link-based mobile application – Web Connect, making for a truly immersive experience. Delegates can log on to the app via the following link:www.wtc18.com/connect

 

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