Middle East Insurance Review > Magazine

Rising above adversity

COVID-19 is a significant opportunity to reinforce the relevance of the insurance sector.

Corneille Karekezi, MD & CEO, Africa Re Group

Back to basics

The outbreak of the coronavirus has been a stark reminder for the industry to go back to basics – especially when it comes to increasing collaboration with providers and controlling costs.

Zuhair Al Atout, CEO, APEX

Are we prepared for the big opportunity?

The sector must be ready with the right products and services to meet the increase in demand for insurance as a result of the pandemic.

Basem Odeh, CEO, Arabian Shield Insurance

Sustaining performance in an ever-challenging climate

Enhanced digital capabilities, a wider range of services and better response to consumer needs are crucial for rapid recovery from the crisis.

Tal Nazer, CEO & Managing Director, Bupa Arabia

Standing together

With everyone working even harder now, relationships have strengthened further during this pandemic.

Mojgan Khoshabi, Regional Managing Director, MENA, Chubb

Shaping post-pandemic workplaces with research, innovation and compassion

For employees worldwide to come back stronger and more resilient post-COVID-19, resourceful leaders will need to make employee wellness as much of a priority as they do business continuity.

Jerome Droesch, CEO, Cigna MEA

The era of resilience

Known risk, unforeseen consequences.

Hassen Bennour, CEO, Coface Middle East & Southern Africa

More focus on technical underwriting

After a period of price-based competition in the market, insurers must now understand the value of technical underwriting and avoid short-term gains, which would be damaging in the long run.

Hamad Al Mehyas, Acting CEO, Daman

InsurTech to lead growth

InsurTech is transforming the industry through digitalisation, innovation and collaboration, thereby shaping the future of finance.

Arif Amiri, CEO, DIFC Authority

Top of the agenda

The time has come for the sector to bring the importance of insurance and risk management back as a top priority for C-suite and board level consideration.

Minesh Jani, CEO, Ed Broking MENA

The power of digital infrastructure

The use of smart technologies to track the spread of the coronavirus and support the implementation of medical strategies will shape the future of smart cities.

Fareed Lutfi, Secretary General, Emirates Insurance Association

Reflections on Y2K and lessons learnt from COVID-19

While it is too late for major preventative actions to mitigate the coronavirus as we did with Y2K, it is not too late to prepare for the inevitable next outbreak.

Yassir Albaharna, Vice President, Federation of Afro-Asian Insurers & Reinsurers (FAIR)

Defining a new vintage normal and successfully adapting for leadership

The strategy for the new normal would be a continuous work-in-progress adaptation combined with innovative cost-efficient varieties of work-from-home contactless frameworks.

Mazen G Abouchakra, Managing Director, Gen Re, MENA & East Mediterranean

Focusing on the new realities

The ongoing crisis will accelerate operational transformation, including the development of new business models that contend with the new social and economic realities.

Mounir Kharma, Group Chairman & CEO, GlobeMed

Prepared for the long haul

It is imperative to have an agile business model, optimise costs and engage deeper with clients to emerge stronger.

Sameer Yogishwar, CEO, HDFC International Life & Re

Cyber security and the modern workplace

Regulating the data-driven, modernised work environment will enhance technical standards, and improve cyber security awareness and measures.

Justin Whelan, Partner, HFW

Strategic focus

In a hardening market, it is increasingly important to find synergies on the back end that cut frictional costs.

Atinc Yilmaz, Regional CEO - Turkey, Middle East & Africa, Howden

Mitigating risks, advancing recovery

The sector has the responsibility to work together to keep goods and services flowing in the fight against COVID-19.

Oussama Kaissi, CEO, Islamic Corporation for the Insurance of Investment and Export Credit

Pandemic will accelerate M&A activity

M&A is the only viable option for some businesses to remain sustainable in the current climate.

Alaa El-Zoheiry, Chairman, Insurance Federation of Egypt

Investment in automation will pay off

There will be an upside of the current crisis as we realise now that investing in automation will free up human resources to focus on growth, and lower organisational costs.

Ahmed Khalifa, Managing Director, Sarwa Insurance

Early adopters of tech get a leg-up

The pandemic has underlined the importance of investing in technology and the need to re-engineer internal processes to meet client demands.

Walid Sidani, Managing Director and CEO, Kay International AMEA

A push towards industry innovation

COVID-19 may catalyse industry innovation, including long-overdue improvements in customer experience and personalisation, and collaboration platforms used by insurers who recognise the need to transform.

Adil Abid, Partner, KPMG Lower Gulf

The future of insurance

The sector should take the creativity and collaboration that have characterised the industry response to the crisis to keep on driving the development of new products and new ways of delivering service.

Sonja Rottiers, CEO, Lloyd’s Brussels & Regional Director for Lloyd’s EMEA

The risk outlook

Businesses need to look beyond the immediate challenges posed by the pandemic and consider the potential and actual repercussions from existing as well as new and emerging risks.

Ayman El Hout, CEO, Marsh UAE

Protecting customers post-pandemic

Focus efforts on inspiring consumer trust, understanding their needs and digitising the customer experience.

Dimitris Mazarakis, SVP and General Manager, MetLife Gulf

Changing dynamics

The potential of increased need for reinsurance, driven by loss experience over recent years and the downturn in financial markets post-COVID-19, is expected to provide positive momentum for rate increases, which could in turn attract new capacity.

Fikret Utku Özdemir, General Manager, Milli Re

Sector maintains resilience, but risks remain on the downside

Claims from event cancellation, business interruption and mortality will remain manageable for MENA insurers although the situation remains fluid.

Benjamin Serra, Senior Vice President, Insurance EMEA, Moody’s

Restructuring imperative

The pandemic will push insurers in the region to redesign their business models taking into consideration the different components such as customer value, profitability, resources and operations.

Ghazi Abunahl, Chairman, Nest Investments Group & Emeritus Chairman, World Trade Centers Association

Navigating the new normal

Employee engagement, customer service, capacity building and planning ahead are main areas of focus during this critical time.

Umair Nizami, CEO, NAS Neuron Healthcare Services

Intensely digital business environment

The opportunities that would emerge from this pandemic hinges on the transformation of the business towards digital.

Christian Gregorowicz, CEO, Allianz Partners MEA & Global Head of TPA & MPM, NEXtCARE

Embrace change, innovate and adapt

The three ways to generate growth and long-term customer loyalty successfully in the post-pandemic world.

Zahir Sharif, Managing Director, Now Health International

Catalyst for change

COVID-19 may prove to be a disruptive catalyst for the sector – pushing insurers to reframe their strategic priorities.

Sanjay Jain, Partner and Middle East Insurance Leader, PwC

Can local players fulfil their potential?

Big upheavals often mean big opportunities, and COVID-19 is certainly a world-changing event. Could the post-pandemic market conditions spark an opportunity for a local player to grow into a major force in the MENA insurance sector?

Anthony Harris, Senior Executive Officer, RFIB Middle East

Providing certainty in an uncertain world

For our business to prove its value in our markets and communities, we need to be clear about why we exist.

Martin Rueegg, CEO, Middle East, RSA

An opportunity as much as a challenge

Due to the pandemic, insurance buyers will be more considerate of risk management, and thus will seek out effective risk-transfer solutions.

Fahad Al-Hesni, MD-CEO, Saudi Re

Innovating to meet changing consumer needs

Digital transformation is a key area of focus for companies ready to chart a clear path to revenue recovery.

Ambareen Musa, Founder & CEO, Souqalmal.com

Change management is key

In a post-pandemic world, we must focus on strengthening culture and find ways to develop people and leaders.

Talal Al Zain, Group CEO, Trust Re

Be prepared

Businesses with a strong foundation will have the capacity to adapt and deliver in times of crisis.

Gautam Datta, CEO, Watania

A turning point for Dubai?

The pandemic could spell an opportunity for regional and local insurers to step in and step up.

Pamela Thomson-Hall, Head of Central and Eastern Europe, Middle East and Africa, Willis Towers Watson

The future of workforce management beyond COVID-19

Companies that can better adapt their people management practices and create a stronger, more skilled workforce will drive greater efficiency and superior customer outcomes.

Walter Jopp, CEO, Zurich International Life Ltd, Middle East

Magazine

Aug 2020

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