14 th World Takaful; InsurTech Conference sees attendance from over 300 industry leaders

Over 300 industry powerhouses from GCC, Asia, Africa and Europe converged at the two-day forum,
that saw renowned industry leader Abdulla Mohammed Al Awar from DIEDC deliver the opening
keynote address.
Dubai, UAE – April 02, 2019: Across two power-packed days, an engaged audience of over 300 key
industry leaders gathered from various markets comprising the GCC, Asia, Africa, Europe & USA,
witnessed critical insights unfold at the 14 th  edition of the World Takaful & InsurTech Conference
(WTIC 2019).  Convened by Middle East Global Advisors, the World Takaful & InsurTech
Conference (WTIC), was held in strategic partnership with the Dubai International Financial
Centre Authority and supported by the UAE Insurance Authority (IA) and the Dubai Islamic
Economy Development Centre (DIEDC) on April 01 st  & 02 nd  at the Address Dubai Mall Hotel in
Dubai.
The forum spearheaded a series of discussions among policymakers, industry leaders, regulators and
stakeholders addressing the theme of “Reinforcing Customer Engagement and Operational
Agility through Digital Transformation”.
Renowned Industry Leader Abdulla Mohammed Al Awar, Chief Executive Officer, Dubai Islamic
Economy Development Centre (DIEDC), delivered the opening keynote address at the 14th World
Takaful & InsurTech Conference, and discussed the areas of development for Takaful and
establishing an environment for growth. “According to the Islamic Finance Development Report 2018
by Thomson Reuters, the global takaful industry reached US$46 billion in 2017. However, at just two
per cent, it still remains the smallest contributor to the Islamic finance industry in terms of assets.
This, despite that fact that currently close to 324 operators around the world offer Takaful. It is quite
evident then that the Takaful sector has tremendous potential to expand its role in the Islamic finance
industry”, said Mr. Al Awar.
The conference also witnessed a keynote address by Hamad Darwish, Business Development
Manager, Al Etihad Credit Bureau (AECB). Mr. Darwish explained how the credit bureau could
support insurance companies to better manage their receivables and offer customized pricing to low
risk customers. Insurance innovations was a central theme at WTIC 2019 and it witnessed an
exclusive one-on-one interview on identifying innovation opportunities with Zia Zaman, Chief
Executive Officer, LumenLab & Chief Innovation Officer, MetLife Asia – one of the most notable
figures in this space, that was hosted by Dr. Basel Hindawi, Chief Executive Officer, DIFC
Insurance Association (DIFC IA).
The conference also spearheaded an exclusive one-on-one interview on undertaking business
transformation by integrating innovative technological solutions with Reena Vivek, Chief Operating
Officer, Zurich International. “I am excited to be a part of the 2019 World Takaful & InsurTech
Conference. I’m curious to explore innovative insights from our peers, practitioners and regulators
that will help us to drive our industry forward. We must embrace new ideas to deliver superior
customer experiences. Ultimately, it’s about connectivity, being more connected to our customers,
and technology can enable us to connect. Sometimes it's the smallest thing that will have the biggest
impact!”, expressed Ms. Vivek.
Speaking as part of the panel on calibrating leapfrog strategies for TakafTech, InsurTech and
Innovations in claims and healthcare insurance, Fatou Assah, Manager, Finance, Competitiveness &
Innovation, World Bank Group said, "Recently in Africa & Asia, InsurTech has helped accessing
the unbanked and uninsured, especially low-income population living in rural areas, through mobile
phone technologies or e-vouchers. The use of satellite data or drones in product design and claim
processes have also significantly helped the insurance industry address some key challenges. We are

excited to have participated in the 14th World Takaful & InsurTech Conference and learn about
innovations that might be applicable to developing countries."
A key highlight of the two-day conference was the launch of Milliman Monitor 2018 UAE
insurance report by Safder Jaffer, Managing Director & Principal, Milliman. The Milliman
Monitor captures the overall and company specific financial results for the year ending 2018 for all
publicly listed Takaful and conventional players in the UAE. It not only provides a top-line analysis,
but also a bottom-line financial performance of the Insurance and Takaful industry in the UAE, whilst
also providing insights into the reasons for the strong performance of the industry as a whole.
Speaking on behalf of WTIC 2019’s Platinum Partner, Parvaiz Siddiq, Chief Executive Officer,
SALAMA Islamic Arab Insurance Co, said, “It is important for global industry practitioners to
converge at platforms like the World Takaful & InsurTech Conference where they can deliberate on
key industry pain-points and gaps and identify new growth opportunities whilst coming up with a
clear and effective road-map for the future. This year’s WTIC focused on addressing the key issue of
customer engagement and operational agility through digital transformation. As a leader in the field of
Shari’ah-compliant solutions, and owing to the massive disruption in the market, it becomes all the
more critical to discuss the importance of developing competitive and diverse Takaful solutions that
meet the ever-changing market demands – a topic I was happy to contribute my insights to at this
year’s edition. SALAMA is pleased to support the forum as it’s Platinum Partner.”
The two-day forum was moderated by Dr. Alberto Brugnoni, Founding & Managing Partner,
ASSAIF and Mohammed Tarmidzi Ahmad Nordin, Independent Non Executive Director, BIMB
Holdings Berhad. Other key highlights from the conference included thought leadership by Salmaan
Jaffery, Chief Business Development Officer, Dubai International Financial Centre
Authority, who offered his insights on building an insurance ecosystem and connecting conventional
insurers and reinsurers with new technologies; an exclusive Product Showcase Innovators
Session featuring innovative products and solutions by HandsOn Systems, Owners of Aktuaris and
Merimen; exclusive Regulators’ Rendezvous whereby insurance regulators from U.A.E. Insurance
Authority, Bank Negara Malaysia, Central Bank of Bahrain & Capital Market Authority shared the
best regulatory mandates and practices for the industry to unleash its full potential whilst maintaining
compliance; CEOs Panel on revolutionizing a traditional industry and driving insurance penetration
and distribution in emerging markets by adapting to an array of industry challenges, featuring insights
from leaders from SALAMA Islamic Arab Insurance Co, Dar Al Takaful, Gargash Insurance
Services and National Takaful Company P.S.C – Watania; an insightful Audit Session on IFRS17
by FIS Global, Presentation on Streamlining aggregators' regulations for better governance that
can influence the decision-making process of consumers by Jonathan Rawling, Chief Financial
Officer, yallacompare and the World Takaful & Insurance Huddle – a congregation of global
Takaful leaders to exchange viewpoints on addressing challenges and issues that will better position
the industry to reach mass markets and achieve organic growth and development.
WTIC 2019 also hosted dedicated sessions on evaluating rating standards and financial strength of
insurance companies; embracing innovation & technology in the insurance industry to achieve
industry-wide transformation, building internal talent and leadership of skilled and qualified personnel
within the insurance industry; the challenge of progressing to profitability for Takaful operators and
assessing the challenges of corporate governance in Takaful, among others.
Key industry veterans from leading corporates, banks and regulatory bodies headlined the forum and
imparted valuable insights on a host of central themes affecting the Takaful and Insurance Innovations
industry at large. Speakers at WTIC 2019 included: Mark Cooper, General Representative Middle
East & Director, Lloyd’s Limited; Puan Nurul Izza Idris, Deputy Director, Islamic Banking &
Takaful Department, Bank Negara Malaysia; Mohamed M. Shamsi, Head – Conventional

Insurance & Reinsurance Firms, Central Bank of Bahrain; Nasar Ahmed Al Salhi, Director,
Valuation and Risks Surveillance Department, Capital Market Authority; Dr. Ahmed Mohammed
Nagy, Consulting Actuary, U.A.E Insurance Authority; Fatou Assah, Program Manager, Finance,
Competitiveness & Innovation, World Bank Group; Sager Nadershah, Managing
Director, Aljazira Takaful; Fareed Lutfi, Secretary General, Emirates Insurance Association &
General Arab Insurance Federation; Dave Matcham, Chief Executive, International
Underwriting Association of London (IUA); Peter Hodgins, Partner, Clyde & Co; Parvaiz
Siddiq, Chief Executive Officer, SALAMA Islamic Arab Insurance Co; Michele Grosso, Co-
Founder & Chief Executive Officer, Democrance; Nor Azman Zainal, Chief Executive
Officer, Prudential BSN Takaful Berhad, & Sedick Isaacs, Head: Business Support Service, Bryte
Insurance Company Limited, A Fairfax Company, among others.
Delegates also participated in The 14 th  Annual WTIC Exhibition where they exclusively networked
and connected on a one-to-one basis with leading industry players. Partners at WTIC 2019 included:
Al Etihad Credit Bureau (AECB), SALAMA Islamic Arab Insurance Co, HandsOn Systems –
Owners of Aktuaris, FIS Global, yallacompare, eBaoTech, Protiviti, Moody’s Investor Service,
Merimen, Gargash Insurance Services, Milliman, Netcetera, Clyde & Co, Obrela Security
Industries & IRIS Health Services.
Got valuable feedback on WTIC 2019? We’re constantly looking for ways to enhance your
experience in the next edition. Join the global conversation on Twitter at: @WorldTakaful
#WorldTakaful19 #WTIC19
For more information on WTIC 2019, visit www.wtc19.com
-END-

ABOUT THE WORLD TAKAFUL & INSURTECH CONFERENCE (WTIC)
World Takaful & InsurTech Conference (WTIC) is the leading global forum for Takaful & Insurance
Innovations which has played an instrumental role in the development of the industry for more than a
decade by facilitating thought-provoking discussions, producing quality research and actionable
insights.
WTIC serves as a platform to facilitate ideas sharing among the leaders in the industry gathered from
various parts of the world ranging from key markets for Islamic Insurance such as the GCC and
Southeast Asia to emerging markets such as Africa and Europe.
For more information, visit www.wtc19.com or follow us on Twitter @WorldTakaful

ABOUT MIDDLE EAST GLOBAL ADVISORS
Connecting markets with intelligent insights & strategic execution since 1992
Middle East Global Advisors (MEGA) is the leading gateway connectivity and intelligence platform
to Islamic finance opportunities in the rapidly developing economic region that stretches all the way
from Morocco in the West to Indonesia in the East- The Middle East North Africa Southeast Asia
(MENASEA) connection. For 26 years, our exclusive focus on achieving business results for the
Islamic finance industry has enabled us to create significant value for the leading players in the
Islamic banking, finance and investment markets.

Visit us at www.meglobaladvisors.com or follow us on Twitter @meglobaladvisor
—————————————————————————————————————-
Aanchal Dhawan
Marketing Manager
Middle East Global Advisors
Tel: +971 4 441 4946
Email: aanchal@meglobaladvisors.com
© Press Release 2019

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