The level of emiratisation in the UAE insurance sector is currently still below the target rate of 13%, despite the efforts of the Insurance Authority to increase job opportunities in the industry for UAE nationals.
Officials and managers in the insurance sector say that there are several reasons for the slow pace of emiratisation in the insurance industry, compared with other sectors. One reason is that the insurance sector is seen as offering less attractive remuneration and incentives, reported Abu Dhabi News Network.
Mr Ebrahim Al Zaabi, director general of the Insurance Authority, said that the Authority has worked to increase emiratisation rates in the sector to achieve the strategic goals of the federal government. One of its programmes is the “My Skills" initiative which aims to train UAE citizens to take up posts in specialised insurance fields.
Mr Al Zaabi said that the Insurance Authority worked in the past two years to implement 56 specialised training courses for free in the insurance industry in various emirates in cooperation with the Chartered Insurance Institute of London. A total of 700 citizens have been trained and obtained internationally recognised professional certificates.
Mr Fareed Lutfi, secretary general of the Emirates Insurance Association, said that the process of emiratisation requires the joint efforts of all players ranging from the Insurance Authority on the one hand to build strategies, plan, make effective decisions and monitor implementation, to insurance companies on the other hand which should commit to and implement those decisions.
He pointed out that salaries are a key issue in advancing the Emiratisation process because it is an important incentive for citizens to engage in insurance activities.