Dubai: The UAE is preparing to host the 20th Annual Gulf Insurance Forum on October 28th and 29th, an event anticipated to attract over 250 chief executive officers, experts, and managers from the insurance and related sectors throughout the GCC states. Participants from several Arab and foreign countries, along with representatives from Arab and Afro-Asian insurance federations and regional and international reinsurance companies, will also be in attendance.
According to Emirates News Agency, Khaled Mohammed Al Badi, Chairman of the Emirates Insurance Association and the Gulf Insurance Federation, emphasized the forum’s significance, noting its focus on the rapidly changing global insurance landscape and its impact on the GCC. The forum aims to explore strategies to adapt to these developments with the help of international and regional speakers who will provide insights, forecasts, and recommendations for overcoming future challenges in the sector.
The forum will bring together decision-makers and specialists from approximately 30 countries to address the issue of natural disasters. Discussions will evaluate the measures taken by GCC states, insurance companies, and the Gulf Insurance Federation to bolster disaster preparedness. Topics will include advancements in risk assessment, the creation of specialized insurance products for disaster resilience, and the role of public-private partnerships.
Additionally, the event will delve into the changing dynamics of the global reinsurance market, highlighting the importance of underwriting in determining optimal reinsurance capacity, pricing, and terms. Strategies to enhance partnerships and establish regional risk pools to manage financial exposure will also be explored.
The forum will further investigate investments in technology, digitalization, and the use of artificial intelligence and predictive analytics to improve risk evaluation processes. Through a series of workshops, participants will receive insights from reinsurance companies on how global trends such as climate change, inflation, and digital transformation are influencing their strategies and outlook on the GCC insurance market.