Sixteen industry stalwarts have emerged winners at the 7th Middle East Insurance Industry Awards (MIIA), held virtually for the very first time.
The award winners, unveiled yesterday, edged out over 200 entries from the MENA region to earn the top spots, proving their mettle and commitment to the sector amidst the ongoing global health crisis.
“From the moment we launched the awards in April, we received a host of nominations and entries. The rush of entries was evident of the human spirit to strive, to seek and to excel no matter how treacherous the path was,” said Mr Sivam Subramaniam, editor-in-chief of Middle East Insurance Review and organiser of the awards.
“The takeaway from this search for winners is that even in these terrible times, industry leaders are on the front line trying to make a difference. It showed us that the insurance industry has much to be proud of. Insurance plays a fundamental role in every business and every life – as COVID-19 has so dramatically highlighted.”
This year’s winning entries reflect the industry’s innovation and agility in transforming itself through the power of technology to remain relevant as a business and in consumers’ lives.
The ‘Digital Initiative of the Year’ award went to Oman Insurance Company, which has transformed its legacy IT estate to a highly-secure, future-ready Cloud estate, helping it to achieve a 99.9% service availability in the last 12 months. It is also the first insurer to launch a 100% straight-through processing portal for all its broker partners in the UAE.
Oman Insurance also clinched the ‘Life Insurance Company of the Year’ award for its new online life plans, demonstrating that it is a step forward in changing the approach towards buying life insurance.
For the first time in the history of the awards, Bupa Arabia clinched the ‘Health Insurance Company of the Year’ title for its holistic approach to health and well-being, and its ability as a national player to localise global best practices to suit the diverse needs of its members in Saudi Arabia.
NEXtCARE retained its title as ‘TPA of the Year’ – for the fifth consecutive year. Islamic Arab Insurance Company (SALAMA) bagged the ‘Takaful of the Year’ award on the back of its strong financial performance in 2019.
The inaugural ‘Young Leader of the Year’ category, which saw an overwhelming number of entries, went to the very accomplished Bahrain Kuwait Insurance Company CEO Dr Abdulla Sultan. Meanwhile, Takaful Oman Insurance vice chairperson & CEO Sayyida Dr Rawan Al Said won the ‘Woman Leader of the Year’ award.
The highly coveted ‘Personality of the Year’ award went to Trust Holdings CEO Kamel AbuNahl, recognised for his outstanding leadership in driving the company’s business in the MENA region.
The full list of award winners is as follows:
Life Insurance Company of the Year
Oman Insurance Company
General Insurance Company of the Year
Takaful Company of the Year
Islamic Arab Insurance Company (PSC) – SALAMA
Health Insurance Company of the Year
Digital Initiative of the Year
Oman Insurance Company
Reinsurance Company of the Year
International General Insurance
Broker of the Year
Marsh Middle East & Africa
Reinsurance Broker of the Year
TPA of the Year
Law Firm of the Year
Clyde & Co
Educational & Training Initiative of the Year
Chartered Insurance Institute
Strategic Partner of the Industry
Badri Management Consultancy
Corporate Risk Manager of the Year
Mr Mohamed Khalifeh, Group Head, Governance, Risk and Compliance, Chedid Capital
Woman Leader of the Year
Sayyida Dr Rawan Al Said, Vice Chairperson & CEO, Takaful Oman Insurance
Young Leader of the Year
Dr Abdulla Sultan, CEO, Bahrain Kuwait Insurance Company (GIG Bahrain)
Personality of the Year
Mr Kamel AbuNahl, CEO, Trust Holdings Ltd
The MIIA, organised by Middle East Insurance Review and supported by DIFC, DIFC Insurance Association, FAIR and GAIF, is lauded as the premier awards of the MENA region with a set of clearly defined criteria and a transparent judging process. A panel of 23 distinguished judges was involved in the assessment of the nominations this year. The results were independently audited by EY.
Sponsors this year include AM Best, Beyontec, Chedid Re, Lloyd’s, MedGulf, MetLife, Optum and RGA.
For more information, please visit www.meinsurancereview.com/meirawards2020