The Gulf Insurance Federation is gearing up to host the 19th Annual Gulf Insurance Forum from October 15-16, focusing on enhancing the insurance industry.
The forum will take place at Swissôtel Al Murooj in Dubai with over 250 officials and insurance experts from 36 Arab and international countries, alongside Arab insurance federations, the Federation of Afro-Asian Insurers and Reinsurers, and regulatory bodies.
The event will revolve around the theme “Recent Floods in the GCC and Landscape of Digital Disruption”, with an aim to develop the sector as it plays crucial role in impacting economy.
The 19th edition will feature several sessions. It will address the recent floods in the region and explore its economic, social, and infrastructural impacts such as economic repercussions, societal effects, infrastructure damage, insurance claims assessment, insurance vs reinsurance policy conditions.
The forum will also review recent events to discuss strategies for enhancing resilience against natural disasters within the GCC region, including formation of regional catastrophe pools. Another session will delve into strategies for strengthening risk management practices to prepare and reduce the impact of natural disasters. This includes implementing technology applications in risk management, predictive analytics, disaster preparedness initiatives.
Gulf Insurance Forum also seeks to foster collaboration between regional insurance companies and international reinsurance companies to enhance the resilience and competitiveness of the regional insurance market.
The second day will explore the era of ‘Intelligent Insurance’ and the impact that generative Al (Artificial Intelligence) and Machine Learning (ML) will be having on the insurance industry. These technologies play key role in transforming various aspects of the insurance lifecycle.
The event will provide a practical guidance on establishing and enhancing data analytics capabilities within insurance companies. The second day will also delve into Telematics and its usage in monitoring and gathering data related to insured behavior and habits and how it is important in customizing premiums based on individual behavior.
Additionally, the same session will look at IoT applications providing all range of interconnected devices and sensors that communicate with each other over the internet. In insurance, IoT applications go beyond just monitoring vehicles and extend to various aspects of property and life insurance.
Furthermore, the event will hold a panel discussion on the ethical considerations and regulatory framework for the implementation of new technologies in the insurance sector.
