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Insurance World

Zurich International Life’s latest claim statistics reveals that heart attack and stroke were the most common reasons for life and critical illness cover claims by men in the Middle East, while cancer was the leading cause for life and critical illness cover claims by women. Their claims data shows that the majority of claims made by men are from those aged 40 and above, whereas for women, the majority of claims were paid to women in their 30s. The findings were presented as part of the Middle East Claims Statistics and Insights – Jan 2014 to Dec 2016, which Zurich has published annually since 2011. Zurich continues to be the only life insurance provider in the Middle East to issue yearly claims statistics specific to the region.

In a step to strengthen its offerings for customers, AXA Insurance in the Gulf, one of the leading international insurers in the region, recently introduced its Home Assistance Emergency Repair Service in the UAE. This service is available if customers are faced with unexpected situations at home and includes emergency repairs carried out by professionals to secure customers’ homes and protect them against further loss or damage.

Insurance Innovations Conference closed the curtains on a successful two-day event yesterday at the Nassima Royal Hotel in Dubai. The conference witnessed key stakeholders in the insurance industry come together and engage in a dialogue on the role of innovation in insurance and major trends reshaping the industry. The event was inaugurated by Sameh Hafez, VP of Customer Proposition at Oman Insurance Company, who also delivered the opening address. This was followed by a keynote session titled “The race to the top with digital era innovations to stay ahead” by Fareed Lutfi, Secretary General at Emirates Insurance Association.

The insurance industry in the UAE is at a crucial juncture where the impact of new regulations – from VAT to IFRS – could significantly impact the business landscape in the coming months. Understanding and being able to navigate these new regulations will be key for insurers, and was the focus of a KPMG LG Insurance seminar.

There is no doubt the emotional and physical burden patients face when diagnosed with a chronic disease or terminal illness, however financial strains can often exacerbate an already debilitating situation for both patients and their loved ones.