The best of the industry were feted at the 2nd Middle East Insurance Industry Awards (MIIA), which drew many entries across the region eager to demonstrate what they are doing to stay at the top of the game.
“This second edition of the MIIA was even more heartening than the first, as we saw many bold and brave entries showing what they were doing in the market, not just to stay relevant but sometimes to actually lead the buyers and create more demand,” said Mr Sivam Subramaniam, Editor-in-Chief of Middle East Insurance Review, organiser of the Awards. “There are stars in the Middle East and the region is not short of innovation and excitement.”
The Awards was supported by the DIFC and GAIF, with the judging process and results audited by independent auditor EY. The judging panel comprised 26 domestic, regional and international leaders in the insurance industry.
The results were announced at a Gala Dinner on 17 November last year in Dubai, where 15 winners were recognised for their excellence in 16 categories. We salute them, and capture their excitement as they share what their victories mean to them and what they will do to celebrate their wins.
MetLife is honoured and delighted to receive the prestigious Life Insurance Company of the Year Award for the second consecutive year, in 2015.
We commend Middle East Insurance Review for its initiative in creating the Middle East Insurance Industry Awards (MIIA), which help to raise the industry’s profile and recognize excellence across the regional insurance industry.
MetLife opened its first branch in the region in Lebanon in 1953, and was the first insurance company in many of the Middle East countries.
As cited by the MIIA, “putting customers first, being the best, making things easier and succeeding together are the values underpinning MetLife’s Life Insurance Company of the Year award”.
Customer focus, innovation and high professional standards have been the hallmarks of the company’s approach in the region, from the very beginning. Our goal is to continue providing the best products and solutions to meet the evolving needs of customers in the region. We do this through a very strong focus on customer-centricity and by improving our customer experience through innovations, such as customer-friendly technology supporting our multi-channel distribution platform.
On behalf of MetLife, I dedicate this award to all our employees, customers, field force and business partners across the region.
Mr Julio Garcia-Villalon
Regional Head, Middle East & Africa Region, MetLife
It is a privilege to have been chosen as the General Insurer of the Year for the second year in a row, and Health Insurer of the Year at the second MIIA. It is a testimony to our company’s successful strategy and comprehensive product portfolio as well as AXA’s reputation to deliver consistent first-class services.
This recognition also rewards the hard work and commitment of all AXA Gulf employees across the region, who ensure that we constantly deliver our strategy and targets. Becoming the most preferred company in the Insurance industry is our goal, and we need to relentlessly invest to ensure we always meet customer needs. To see people recognising our efforts to distinguish ourselves from others is, without any doubt, the greatest recognition that AXA Gulf’s employees could receive.
As a company, we have achieved a unique success in offering creative ideas, global reach and highly flexible service capabilities matching the best-in-class insurance solutions to make our clients’ lives easier. We have invested a lot to remain close to our customers, listen and respond to their expectations. We will continue doing so, differentiating ourselves, as we are fully committed to this region.
Mr Cedric Charpentier
CEO, AXA Gulf
Indeed, it is exhilarating to win any award but this one we treasure most because of the manner in which the selection was made – a team of 26 diverse jury members who voted through secret ballot and the whole process being independently monitored by EY.
In a highly competitive insurance market within the UAE, it is heartening to see that SALAMA Family Takaful has carved out a niche in the takaful space, offering products and services comparable and sometimes beyond what is offered by conventional insurance companies.
This award created quite a buzz in the office and it was a delight to see how proud each and every staff member was to be part of this award-winning company, and for this I am most grateful to MEIR for having given us this platform. We celebrated this good news with all our distributors and group clients, and thanked them for their continued support with a pledge to strive to do even better in the future.
So what will we do next – nothing different, just continue like the past: critically evaluating our processes, systems, products on an ongoing basis and ensuring we provide value-added benefits to all our stakeholders.
Mr Noel D’Mello
General Manager, SALAMA Family Takaful
In a market that is fragmented and utmost good faith does not seem to be utmost, building business by going back to the basics of customer, service, underwriting profits requires focus and discipline. The award is a validation of all that and it means that business does not require sacrificing the core principles. Competitiveness does not mean being the cheapest, and the insurance business is not a sprint but a marathon.
The award means that we now have the responsibility to lead the way. Trust and utmost good faith bestowed on Al Madina by this award means we need to remain steadfast in our ways and lead by example, ensuring that insurance in GCC can be a positive contributor to the local economy.
Taking our service to the next level will be our way of celebrating the award! 2016 will be a difficult year but the team can celebrate the award by renewing their commitment to core principles of our business.
Mr Gautam Datta
CEO, Al Madina Takaful
We are proud and grateful to be recipients of the MIIA Educational & Training Initiative in 2015.
Our thanks go to all our stakeholders, especially to our founders and shareholders for making the Institute possible; to our clients for their support and encouragement; to the team of executives, staff and trainers for their commitment and hard work; to the judges for their confidence in our vision and execution; and of course, to MEIR for arranging the Awards.
Winning this Award during our first full year of operation will help to enhance our reputation for providing practical solutions to the market. It has also been a tremendous boost to our confidence and injected a new surge of energy throughout the team. Our mission is to add tangible and substantial value to this industry, of which we are very proud to be a part, and knowing that our efforts are being recognised by our peers, our partners and by industry leaders is both humbling and motivating.
We are excited by the challenges of 2016 and are looking forward to exceeding the expectations of those who have signalled their trust in this initiative.
Mr Khaled Abu Nahel
CEO, The Arab Insurance Institute
We are honoured to be a winner for the second time in a row in the annual Middle East Insurance Industry Awards. Daman is particularly pleased to be considered an innovator in our sector – HealthGuardian having won the Innovation of the Year category, with our ActiveLife initiative preceding it last year for the same award.
HealthGuardian is a service that aims to make it easier for everyone, employers and insured members alike, to lead a healthier lifestyle and to encourage employers on their journey to being wellness-focused workplaces. It is the “awareness” component of a holistic ecosystem that we have built to support clients in managing the health of their staff.
This system begins with the Policy Performance Report, a sophisticated informational tool on key data relating to members’ policy usage and overall health of the insured employees. HR teams can analyse this information and consequently, produce targeted health campaigns through HealthGuardian. With members aware of ways to improve their health, they then “take action” by participating in a variety of events hosted by Daman’s ActiveLife initiative.
We take pride that two initiatives from this ecosystem have been recognised as true innovations in health insurance by our industry peers. The real winners, however, are the employees who have access to HealthGuardian at their workplace.
Dr Sven Rohte
Chief Commercial Officer at National Health Insurance Company – Daman
We are delighted that we have been selected as the Service Provider of the Year for the second consecutive year when we have been up against leading institutions. The fact that the actuarial profession and Milliman in particular has been recognised, is a testimony that actuaries are making a difference to the value proposition of the insurance and reinsurance industry. Actuaries are no more seen as a “burden” but rather as a “blessing”, as the Middle East insurance industry moves to the next levels of maturity.
With significant regulatory changes in the region, Milliman will continue to educate the industry (through our Milliman Academy) by organising a series of workshops in 2016 and collaborate with others in the industry, so that companies appreciate what is required. We will enhance our service proposition by focusing on developing talent within client companies, working closely with either their actuarial staff or students as we provide innovative solutions.
The industry may require a push towards consolidation and Milliman would want to play a key role in realising this potential for our clients and the industry in general.
Mr Safder Jaffer
Managing Director & Consulting Actuary – Middle East & Africa, Milliman
The GlobeMed Group would like to extend its most sincere thanks to the MIIA’s members of the jury for choosing the GlobeMed Group to be the TPA of the Year 2015. This prestigious award does all our team proud since it recognises their professional efforts over the years to achieve success.
We dedicate this win to our clients who are the foundation of our success. They are our partners in every success achieved and to be achieved along the way. Their support and trust throughout the years have pushed us to achieve this amazing recognition.
As a standard setter for the Middle East insurance industry and in recognition of excellence and professional efforts, the MIIA TPA of the Year Award acknowledges GlobeMed’s cutting-edge technologies, systems and processes developed to provide efficient and cost-effective services, which respond to the needs of the insured members and support the business strategies of clients. We consider the MIIA’s recognition, the first time given to a TPA, as a great responsibility for the GlobeMed Group to keep achieving in service of the Middle East health insurance sector.
Again, we extend our appreciation and gratitude to the MIIA organisers and all the people who have shown faith in the GlobeMed Group as their trusted healthcare benefits management partner.
Mr Walid Hallassou
Regional Vice President of GlobeMed Group
Winning this award is recognition of HFW’s continued commitment to the MENA insurance industry and its contribution to education and professional development of the market, participation in industry committees and councils, as well as pro bono work.
Our MENA insurance practice is closely integrated with HFW’s international offices, providing our clients with the wealth of experience of a global team, together with lawyers on-the-ground with extensive local experience and Arabic legal capability.
In direct response to client needs and the increasing regulatory landscape in the MENA region, we have grown our MENA team significantly over the last year, including relocating experienced lawyers from our London team, launching a dedicated corporate and regulatory insurance practice and hiring Arabic lawyers locally. Winning this award is a testament to the hard work of our growing team, which currently stands at 10 dedicated insurance and reinsurance lawyers.
The expansion of our team and its capabilities means that we can continue to provide our domestic, regional and international clients with a high quality, efficient and flexible service to address all their legal needs across the MENA region. We are also delighted to announce new associations with local law firms in Riyadh, Kuwait and Beirut, significantly extending our regional coverage.
Mr Sam Wakerley
Head of the MENA insurance and reinsurance practice, Holman Fenwick Willan
We are very proud and honoured to have received the prestigious MIIA Broker of the Year award, which marks our 15th industry accolade in the last nine years. This honour is a testament to our company’s leadership in providing exceptional broking services, our commitment to a truly customer centric business model and our strong financial performance.
We put a lot of effort into participating in industry awards such as the MIIA, and we are delighted to have been shortlisted and then selected as the winner following the rigorous and transparent judging process. We were up against other notable participants, including last year’s winner, so it was especially pleasing to have surpassed our efforts last year. All of us at Nexus are proud of what we have achieved and encouraged by the win, which motivates us to do even better in the coming year.
Ms Samira Nodjoumi
Marketing Director, Nexus Insurance Brokers
It is always great to receive an award. This could not have been achieved without the passion, commitment and competence of every member of our team.
For Chedid Re, we look at this award as a challenge. We have set the bar high, we will work hard and always run the extra mile to meet our clients’ expectations.
Mr Joseph Faddoul
Executive Director, Chedid Re
It is a great pleasure and an honour to be a second-time recipient of one of the most prestigious awards in our region. I am glad to see that the Hannover ReTakaful’s commitment to the Middle East is well-received by the regional industry’s elite. This success story in the region could not have been possible without our business partners, and I look forward to maintaining this level of excellence in service and commitment to our partners and our industry for years to come.
Mr Mahomed Akoob
CEO, Hannover ReTakaful
RGA is extremely pleased to have been honoured as the Reinsurance Company of the Year in this year’s second MIIA. This award recognises our understanding of the market, innovation in product offerings and thought leadership in the Middle Eastern region.
RGA’s strengths lie in leveraging our global reinsurance expertise for the benefit of clients, and providing them with outstanding services and unique insights to help them address emerging market needs and challenges, and achieve their business goals. RGA’s Middle East team, in collaboration with the Global and EMEA associates, worked tirelessly to provide our clients with innovative solutions to meet their needs, and this recognition is a testament to their efforts.
Mr Ashraf Al Azzouni
Managing Director, RGA Reinsurance Company Middle East Limited