Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Aug 2023

Insurance


General

Can motor insurance be profitable?

Can insurers in the Middle East beat motor claims inflation impacting their profitability? Growing motor claims is leading to a corresponding rise in premiums but will it be the right strategy? Middle East Insurance Review spoke with InsuranceMarket.ae‘s Mr Avinash Babur for insights.
 

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Pet insurance gaining traction in the Middle East

The pet insurance industry in the Middle East might still be a nascent market but it is growing quickly. Driven by expatriates and young, urban professionals, the industry is set to expand by 9.9% from 2022 to 2027 according to some sources. Worldwide Insurance Solutions’ Mr Jonathan Cooper shares more about the pet insurance industry.
 

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UAE unemployment insurance scheme uncertainties

Uncertainties and challenges surround the UAE’s mandatory unemployment insurance scheme as its enrolment deadline gets a further extension. Middle East Insurance Review spoke with Dubai Insurance Company’s Ms Dana Kansou to find out more.
 

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War products gain interest but underwriting challenges remain

Demand for coverage against war has increased amid ongoing wars and concerns of geopolitical tensions developing into conflict. Rates for some lines of business have been hardening and reinsurers have increased exclusions on cedants offering such cover. We spoke to Vantage Risk’s Mr Dan Riordan and WTW’s Mr William Miller for insights.
 

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Life & health

Health insurance in North Africa

Healthcare is receiving increasing attention from governments and individuals in the Middle East. Although there is a variation in the strategies adopted by each country, a common denominator is the growing role played by the insurance sector in providing the required coverages and the potential expansion of this role.
 

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Mandatory health insurance in the GCC

While Saudi Arabia and Kuwait have implemented mandatory health insurance, other markets in the GCC have begun rolling out similar regulations. We look at mandatory health insurance developments in the region.
 

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Technological advances in implementing mandatory health insurance

The Middle East is serving as a role model for how a health information exchange platform can be used to help in the implementation of mandatory health insurance. However, such initiatives must be led by regulators for it to work effectively. Middle East Insurance Review spoke to RGA Middle East’s Dr Dennis Sebastian about how insurers have adapted to the system.
 

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Healthcare expenditure in GCC predicted to see growth

Healthcare expenditure in the GCC is expected to reach $135.5bn in 2027, with UAE and Saudi Arabia continuing to dominate the region’s markets. Middle East Insurance Review spoke to Alpen Capital’s Mr Krishna Dhanak to find out more about penetration rates and consumer demands in the GCC.
 

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Stark urban and rural divide

While 70% of India’s population lives in rural areas, its uptake of life insurance is only 22%. This is a glaring protection gap and indicates untapped potential for life insurers in the country. Middle East Insurance Review spoke with Max Life Insurance’s Mr V Viswanand to understand how a life insurer looks at the possibilities.
 

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