The 35th General Arab Insurance Federation General Conference (GAIF35), held at the Dead Sea, Jordan, concluded yesterday with the release of eight major recommendations calling for a greater focus on emerging risks and the deployment of technology.
At a media briefing, GAIF Secretary General Chakib Abouzaid attributed the overwhelming success of GAIF35 to the collaborative efforts of the Jordan Insurance Federation (JIF) and GAIF.
Pointing to the successful Conference turnout, Mr Abouzaid said that attendance exceeded expectations despite prevailing challenging regional circumstances. GAIF35 – with the theme “Back to Principles” – attracted around 2,200 delegates from over 48 MENA and international markets.
He emphasised that the Conference's value extends far beyond business development and professional networking to making a tangible contribution to the Arab insurance industry.
Highlighting long-term growth, he pointed out that insurance premiums across Arab markets surged from from less than $4.5bn in 1989 to over $70bn in 2025, underscoring vast opportunities for the industry to expand its role in serving Arab economies.
Key conference recommendations
Upon closing GAIF35, Mr Abouzaid announced eight practical and actionable recommendations addressing the issues discussed during the Conference and identifying areas in which markets and institutions can work to drive further development.
The recommendations are as follows:
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Maintain focus on emerging risks, including natural catastrophes and cyber risks, and to explore ways to develop tools for the assessment, modelling and management of such risks. The measures taken should consider the evolving and interconnected nature of such risks and support early preparedness for changes in risk profiles, technology and customer needs.
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Encourage the use of artificial intelligence and advanced technologies to improve the efficiency of underwriting, pricing, claims management and risk analysis, while factoring governance and data protection requirements and ensuring effective integration between technological solutions and human expertise.
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Advance the development of innovative insurance solutions and products tailored to the evolving nature of risks and changing market needs, thereby contributing to broader insurance protection and reaching new customer segments and economic sectors.
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Encourage the expansion of parametric insurance solutions as a complement to traditional insurance, particularly in addressing Nat CAT, climate-related and agricultural risks. Assess the suitability of parametric insurance for other risks, including business interruption, supply-chain, cyber and geopolitical risks.
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Emphasise the development and exchange of data and information on risks and insurance losses at the level of the Arab market, highlighting the importance of accurate and reliable data. Explore the development of Arab databases that could enhance the understanding of the nature and distribution of risks, support risk assessment and modelling, and improve underwriting and pricing.
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Invest in developing future skills and capabilities of insurance professionals, particularly in the fields of artificial intelligence, data analytics, cyber risks, risk modelling and parametric insurance.
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Strengthen the exchange of expertise and cooperation among insurance and reinsurance companies, insurance federations and regulatory authorities, enabling stakeholders to benefit from experiences and best practices in addressing emerging and evolving risks.
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Continue efforts to promote insurance awareness and insurance inclusion, highlighting the role of insurance in risk management and the protection of individuals and institutions.