Over 300 industry powerhouses from GCC, Asia, Africa and Europe are expected to converge at the two-day forum, that will also feature an exclusive report launch by Milliman.
Monday 25, March 2019
Middle East Global Advisors, a leading financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets, will convene the 14th edition of their annual offering – The World Takaful & InsurTech Conference (WTIC), in strategic partnership with the Dubai International Financial Centre Authority and supported by the UAE Insurance Authority (IA) and the Dubai Islamic Economy Development Centre (DIEDC) on April 01st & 02nd in Dubai, UAE. The two-day long forum will take place at Address Dubai Mall Hotel.
Addressing the theme of “Reinforcing Customer Engagement and Operational Agility through Digital Transformation”, the forum is expected to draw participation from over 300 industry leaders, policymakers, regulators and stakeholders.Since its inception in 2006, The World Takaful & InsurTech Conference has been committed to push the envelope with each edition. The 14th edition of the conference will see unique innovations in the form of an Innovative Insurer Showcase Session whereby attendees can explore transformative solutions by way of insurance products, services and technologies, an exclusive Regulators’ Rendezvous whereby insurance regulators from GCC & Asia will share the best regulatory mandates and practices for the industry to unleash its full potential whilst maintaining compliance, an Insightful Audit Session on IFRS17, the World Takaful & Insurance Huddle – a congregation of global Takaful leaders to exchange viewpoints on addressing challenges and issues that will better position the industry to reach mass markets and achieve organic growth and development, and Presentations focusing on artificial intelligence solutions that detect insurance fraud and streamlining aggregators’ regulations for better governance, among others.
Abdulla Mohammed Al Awar, Chief Executive Officer, Dubai Islamic Economy Development Centre (DIEDC), will deliver the opening keynote address at the 14th World Takaful & InsurTech Conference, with the vision of furthering the ecosystem for Islamic insurance to thrive and grow in global markets, while Salmaan Jaffrey, Chief Business Development Officer, Dubai International Financial Centre Authority, will offer his insights on building an insurance ecosystem and driving business value and internal data science capabilities in Takaful and conventional insurance by leveraging on insurance innovations.
Key industry veterans from leading corporates, banks and regulatory bodies will headline the forum and impart valuable insights on a host of central themes affecting the Takaful and Insurance Innovations industry at large. Confirmed speakers include: Zia Zaman, Chief Executive Officer, LumenLab & Chief Innovation Officer, MetLife Asia; Reena Vivek, Chief Operating Officer, Zurich International; Mark Cooper, General Representative Middle East & Director, Lloyd’s Limited; Puan Nurul Izza Idris, Deputy Director, Islamic Banking & Takaful Department, Bank Negara Malaysia; Mohamed M. Shamsi, Head – Conventional Insurance & Reinsurance Firms, Insurance Supervision Directorate, Central Bank of Bahrain; Fatou Assah, Program Manager, Finance, Competitiveness & Innovation, World Bank; Sager Nadershah, Managing Director, Aljazira Takaful; Osama Abdeen, Chief Executive Officer, Abu Dhabi National Takaful Company P.S.C; Dave Matcham, Chief Executive, International Underwriting Association of London (IUA); Peter Hodgins, Partner, Clyde & Co; Parvaiz Siddiq, Chief Executive Officer, SALAMA Islamic Arab Insurance Co; Dr. Muhammad Al-Bashir Muhammad Al-Amine, Shari’ah Advisor, Islamic Corporation for the Development of the Private Sector – Islamic Development Bank; Michele Grosso, Co-Founder & Chief Executive Officer, Democrance; Ayman El Hout, Country CEO, Marsh Emirates Insurance; Nor Azman Zainal, Chief Executive Officer, Prudential BSN Takaful, & Sedick Isaacs, Head: Business Support Service, Bryte Insurance Company Limited, A Fairfax Company, among other key speakers.
The exclusive one-on-one interview with Metlife Asia’s Zia Zaman – one of the most notable figures in insurance innovations,will be hosted by Dr. Basel Hindawi, Chief Executive Officer, DIFC Insurance Association (DIFC IA). “Ever rising customer expectations set the new norm that companies, including insurers, need to deliver towards. Trust is fluid, and we, as brands, need to adjust. I look forward to collaborating on how we can evolve the Takaful and Insurance Ecosystem at the World Takaful and InsurTech Conference 2019”, expressed Mr. Zaman. The forum will also feature an exclusive one-on-one interview on undertaking business transformation by integrating innovative technological solutions, with Zurich International’s Reena Vivek.
Ahead of moderating the key panel on embracing innovation and technology in the insurance industry, Mark Cooper, General Representative Middle East & Director, Lloyd’s Limited, stated, “The 2019 World Takaful & InsurTech Conference in Dubai offers a positive opportunity for all delegates to come together and discuss developments within the Takaful industry. There has never been a more exciting time to be looking at how the Takaful markets can play a greater leadership role within the global insurance industry, an industry that is actively redefining itself in a rapidly changing world.”
Sager Nadershah, Managing Director, Aljazira Takaful, will offer his insights on aiding Takaful operators through substantial regulatory requirements on technical underwriting, pricing, technology adoption and risk management. “Saudi Insurance market continues to evolve due to strong government reforms and long term vision supporting the insurance industry growth namely expanding insurance coverage to increase penetration, enhancing the company’s corporate governance, focusing on building strong solvent companies, enabling business through talent creation and increasing the penetration of protection and saving sector. It is my pleasure to a part of the 14th Annual World Takaful & InsurTech Conference and address these key points”, said Mr. Nadershah.
WTIC 2019 will also see the launch of the Milliman Monitor 2018 UAE insurance report, 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. Speaking ahead of the launch of the report, Safder Jaffer, Managing Director & Consulting Actuary – Middle East & Africa, Milliman, said, “The insurance and takaful industry in UAE has yet again demonstrated strong underwriting profitability despite minimal premium growth in 2018. Takaful operators in particular appear to be improving on their results. However, the industry continues to face challenges of softening of rates and the WTIC forum provides ample of opportunity to discuss industry trends with leading practitioners in UAE and the region”.
Delegates can also look forward to witnessing The 14th Annual WTIC Exhibition where they can exclusively network and connect on a one-to-one basis with leading industry players comprising WTIC 2019 partners Al Etihad Credit Bureau (AECB), SALAMA Islamic Arab Insurance Co, Milliman, HandsOn Aktuaris, FIS Global, Yallacompare, eBaoTech, Moody’s Investor Service, Protiviti, Abu Dhabi National Takaful Company P.S.C, Merimen, Obrela Security Industries, Netcetera & Clyde & Co.
Ahead of exhibiting, on behalf of WTIC’s associate partner, Geoffrey Farrugia, CEO, HandsOn Systems, expressed, “I am looking forward to be at this conference sharing experiences with the audience on the dramatic effect that telematics has had and will increasingly have on motor insurance. It has already made waves in other markets and promises to be a game changer for the motor insurance industry across the world. The WTIC 2019 will give us an opportunity to showcase our UBI product as we are working to bring it into the UAE market and the Middle East. The winners will be those early adopters who attract safer drivers and engage their customers through UBI”.
“The 14th Annual World Takaful & InsurTech Conference is a great forum for carriers, intermediaries, InsurTech’s and IT providers to exchange experience and concrete ideas on how we can leverage emerging technologies to speed up innovation for the benefit of our policyholders. I look forward to interesting and challenging discussions on how we can get there faster together!”, added Tomek Bugajski, Vice President and General Manager EMEA, eBaoTech.
The two-day forum will be moderated by Dr. Alberto Brugnoni, Founding & Managing Partner, ASSAIF and Mohammed Tarmidzi Ahmad Nordin, Independent Non Executive Director, BIMB Holdings Berhad.
Originally published on www.islamicbusinessandfinance.net