Tuesday 26 October 2021

New report to provide insight into Takaful sector

DUBAI, April 10, 2017

A groundbreaking report that will provide Takaful practitioners with invaluable strategic insights critical to success will be launched this week at the 12th annual World Takaful Conference (WTC) in Dubai.

Milliman, one of the world’s largest actuarial and consulting firms, will present the Global Takaful Report 2017, entitled “Market Trends in Family and General Takaful”,  at the event being held on April 11 and 12, at the Dusit Thani Hotel, Dubai.

The WTC, convened by leading financial intelligence platform, Middle East Global Advisors, will be held in strategic partnership with the Dubai International Financial Centre (DIFC) Authority under the theme of “Stability, Authenticity & Technological Transformation”.

This event will be inaugurated by Ebrahim Obaid Al Zaabi, director general, Insurance Authority (IA) UAE.

Speaking on the launch of the report, Safder Jaffer, managing director and consulting actuary - Middle East & Africa, Milliman, said: “There is a demand in the market for an industry report which analyses family takaful and general takaful separately. The Milliman Global Takaful Report meets this demand by providing an invaluable reference source for industry participants. We are delighted to launch it at The World Takaful Conference - a platform that shares the same ethos as us of advancing and fostering the takaful industry through generating actionable insights.”

The Global Takaful Report 2017 will examine the growth of the global and family Takaful markets in the period 2012-2015, providing an in-depth analysis of financial trends, market penetration rates, and the various opportunities and challenges that lie in store for Takaful leaders across the world.

The report aims to equip Takaful leaders in the regulatory, economic, demographical and technological landscape by enabling them to take stock of the key industry trends, analyze forecasts and projections, and explore factors that are critical to their organization’s long-term growth, said a statement.

While the Takaful industry has shown great promise, it is no secret that a host of challenges loom large. Fragmented markets, lack of uniformity in standards and undifferentiated competitor strategies stand as major obstacles blocking the industry from channelling its full potential. At times like these, strategic insights in the form of intelligence reports will prove to be a welcome source of information for Takaful practitioners across the globe.

Since its inception in 2006, The World Takaful Conference has been a significant contributor to enhancing growth, excellence and innovation in the global Takaful industry. Time and again, the conference has proven to be an ideal launching pad for research and intelligence reports that provide strategic insights to the most pressing issues targeting the industry at large, said the statement.

With EmiratesRE and Salama as platinum partners, Milliman as consulting partner and Adamjee Life Assurance Company Limited as associate partner for this year’s edition, WTC 2017 will build on its decade-long reputation for nurturing the development of the Takaful industry by facilitating thought-provoking discussions, producing quality research and generating actionable insights.

The second day of the conference will take shape in the form of a dedicated platform called InsurTech Integrated that will focus on the impact of disruptive technologies on the insurance industry.  - TradeArabia News Service

Tags: Takaful | Report | WTC | Milliman |

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