In the midst of the changing regulatory and economic landscape, over 300 industry leaders will converge at the 14th Annual World Takaful & InsurTech Conference in Dubai this April to discuss the key issues affecting the Takaful and InsurTech landscape
Tuesday 26, February 2019 BY WILLIAM MULLALLY
The 14th edition of The World Takaful & InsurTech Conference (WTIC), previously known as the World Takaful Conference, will be held again in Dubai, UAE on 1-2 April 2019. The two-day long forum will take place at Address Dubai Mall Hotel, in strategic partnership with in the Dubai International Financial Centre (DIFC) and supported by the Insurance Authority (IA) and the Dubai Islamic Economy Development Centre (DIEDC), held under the theme ‘Reinforcing Customer Engagement and Operational Agility through Digital Transformation’.
“While the Takaful industry grew by a CAGR of 6 per cent by 2017, it remains relatively untapped at $46 billion, accounting for just two per cent of total Islamic finance assets, signifying that there lie key opportunities for the sector to grow. As the insurance ecosystem is witnessing transformation and innovation at an incredible pace, leveraging technology to achieve cost efﬁciency and productivity is of utmost importance. It is with great pleasure that we announce the 14th edition of the World Takaful & InsurTech Conference that offers an unmatched opportunity for dialogue and interaction among leading minds from Takaful, Conventional Insurance and insurtech, and aims to serve as a catalyst for the transformation of the entire insurance ecosystem,” said Ehsan Abbas, Chairman of Middle East Global Advisors, shared:
While the Takaful industry accounts for just two per cent of total Islamic finance assets, making it the smallest contributor to the Islamic finance industry, there is a strong trend of consolidation within the industry. Saudi Arabia takes the top spot in terms of total Takaful assets. Other countries that dominate the global market include Iran & Bangladesh (Islamic Finance Development Report 2018).
Takaful has also seen a growing presence in Western countries, specifically with the London market working on developing an ideal framework for Islamic insurance. WTIC 2019 will also see an exclusive address by Dave Matcham, Chief Executive, International Underwriting Association of London (IUA), on embracing innovation and technology in the Insurance industry to achieve industry-wide transformation.
Speaking ahead of WTIC, Mr. Matcham, said, “Following the launch of a set of guiding principles for the trading of commercial (re) Takaful business, there is a growing expectation and optimism that more opportunities will present themselves to London market carriers. By leveraging the unique infrastructure for commercial business within the market, both Lloyd’s syndicates and companies operating in the London market are evaluating these opportunities through existing or new trading entities in discussion with key Islamic clients and stakeholders,” Dave Matcham, Chief Executive, International Underwriting Association of London (IUA).
WTIC 2019 will also see keynote addresses by Abdulla Mohammed Al Awar, CEO, Dubai Islamic Economy Development Centre (DIEDC), an exclusive one-on-one interview with Zia Zaman, Chief Executive Officer, Lumen Lab & Chief Innovation Officer, Metlife Asia and Reena Vivek, Chief Operating Officer, Zurich International - Executive Sponsor of Women's Innovation Network - Middle East; and conversations with Puan Nurul Izza Idris, Deputy Director of Jabatan Perbankan Islam dan Takaful, Bank Negara Malaysia; Sager Nadershah, Managing Director & Chief Executive Officer, Aljazira Takaful; Osama Abdeen, Chief Executive Officer, Abu Dhabi National Takaful Company P.S.C; Sedick Isaacs, Head - Business Support Service, Bryte Insurance Company Limited & Mohamed Awad Omer, Assistant MD (Takaful), Shiekan Insurance & Reinsurance Company & exclusive presentations from our Partners - Clyde & Co. & HandsOn Aktuaris, as they impart valuable insights on a host of key themes affecting the Takaful and Insurance Innovations industry at large.
The two-day forum will be moderated by Dr. Alberto Brugnoni, Founder & Managing Partner, ASSAIF & Mohammed Tarmidzi Ahmad Nordin, Independent Non Executive Director, BIMB Holdings Berhad.
To find out more about WTIC 2019, visit www.wtc19.com
TAGS : Takaful