Pak-Qatar Family Takaful
Group Head Bancatakaful and Alternative Distribution Channels
1) Which innovations in the insurance sector do see becoming major industry disruptors?
As Insurance finally embraces customer centricity, transparency we should buckle up for major disruption in the existing models. New data analytics capabilities, Use of algorithms and AI; will really unlock the potential of IoT in Insurance. We will witness the marketplace model will pave its way into insurance and Block Chain to play a pivotal role in enabling smart real time contracts.
2) What are the key drivers for innovation in the insurance industry today?
Rapidly changing customer behavior, the availability of smart devices and innovation ecosystems achieving scale have provided the industry a much needed push. New digital capabilities and Internet of Things (IoT) devices will break the Steeped in tradition, burdened by outdated systems and paper-based operations. Consequently also result in reducing costs, changing systems and processes are the core drivers for driving towards a change for good.
3) What latest insurance products do you see becoming popular in GCC in the near future?
I would stick to what models will be gain traction in 2017 and in the near future. However, any model or product will and
- P2P Insurance in both Life and P&C - The model brings in transparency and relevance as per the customer market.
- Usage based insurance - As the sharing economy demands niche products and more personalization
- Telematics and Smart Home devices which shall significantly reduce the cost of home insurance.
4) How do you think this conference will benefit the attendees?
For the first time in Dubai, Global Insurtech Influencers will gather under one roof for 2 power packed days. The attendees will get a new perspective to Insurance, insights to global developments and access to a plethora of game changing ideas. Must attend for all the Industry and outside the industry executives, be a part of the change!
To know more about the event, click on the link below: