Industry stalwarts to headline takaful meet in Dubai

Ebrahim Obaid Al-Zaabi, director general of UAE Insurance Authority, and Abdulla Mohammed Al-Awar, CEO of DIEDC, at the 13th World Takaful & InsurTech Conference.
Updated 18 March 2019

Industry stalwarts to headline takaful meet in Dubai

Middle East Global Advisers, a financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets, will convene the 14th edition of the World Takaful & InsurTech Conference (WTIC) April 1-2 in Dubai.
The event is being held in strategic partnership with the Dubai International Financial Center Authority and supported by the UAE Insurance Authority (IA) and the Dubai Islamic Economy Development Center (DIEDC). The two-day forum will take place at Address Dubai Mall Hotel.
Addressing the theme of “Reinforcing customer engagement and operational agility through digital transformation,” the forum is expected to draw participation from over 300 industry leaders and stakeholders. The event will see unique innovations in the form of an “Innovative Insurer Showcase Session.” Attendees can explore transformative solutions by way of insurance products, services and technologies. Insurance regulators from the GCC and Asia will share the best regulatory mandates and practices for the industry to unleash its full potential while maintaining compliance.
There will also be presentations focusing on artificial intelligence solutions that detect insurance fraud and streamlining aggregators’ regulations for better governance, among others.
Abdulla Mohammed Al-Awar, CEO of DIEDC, will deliver the opening keynote address, with the vision of furthering the ecosystem for Islamic insurance to thrive and grow in global markets. Salmaan Jaffrey, chief business development officer of Dubai International Financial Center Authority, will offer his insights on building an insurance ecosystem and driving business value and internal data science capabilities in takaful and conventional insurance by leveraging on insurance innovations.
Industry veterans from leading corporates, banks and regulatory bodies will headline the forum and impart valuable insights on a host of central themes affecting the takaful and insurance innovations industry at large.
Sager Nadershah, managing director of Aljazira Takaful, will offer his insights on aiding takaful operators through substantial regulatory requirements on technical underwriting, pricing, technology adoption and risk management. 
“Saudi insurance market continues to evolve due to strong government reforms and long-term vision supporting the insurance industry growth, namely expanding insurance coverage to increase penetration, enhancing the company’s corporate governance, focusing on building strong solvent companies, enabling business through talent creation and increasing the penetration of protection and saving sector. It is my pleasure to be a part of the 14th Annual World Takaful & InsurTech Conference and address these key points,” said Nadershah.

360-degree mentoring to boost Saudi social enterprise sector

Updated 23 May 2019

360-degree mentoring to boost Saudi social enterprise sector

The King Khalid Foundation (KKF) and Mowgli Mentoring have collaborated to strengthen the growing social enterprise sector in the Kingdom through the provision of 360-degree mentoring, which will support the personal and professional development of social entrepreneurs. The EMCC-accredited mentoring organization is working to built the capacity of Saudi mentors by instilling best mentoring practices and sharing experiences from its 10-year work around the world.

Globally, the concept of social entrepreneurship is increasingly gaining momentum and positive attention as it combines commerce with social good, allowing entrepreneurs to go beyond profit to positively impact communities and societies. Supporting these entrepreneurs, therefore, is in line with the KKF’s vision, which is to have a Saudi society with equal opportunities.

The KKF’s collaboration with Mowgli resulted in the creation of the Athar (Impact) Mentoring Program.

This program aims to build and increase the capacity of Saudi mentors, and equip them with the necessary tools to be able to provide mentorship, support and guidance to social entrepreneurs in the Kingdom. Matching mentors with social entrepreneurs and managing their mentorship relationships is a key benefit of the program.

To commence the mentoring program, Mowgli recently delivered a four-day workshop in the KKF premises in Riyadh. Fourteen professionals and business leaders received training to be 360-degree mentors before being matched with 14 social entrepreneurs. Both groups were provided with the guidelines to build solid foundations for their 1-2-1 mentoring relationships. In addition, the matched pairs will be supported over a duration of six months, during which structured on-going support will be provided to ensure that trust-based and impactful mentoring relationships are developed.

Mowgli Mentoring’s CEO Kathleen Bury said: “We see this program supporting the three themes on which the Kingdom’s Vision 2030 was built upon: Developing a vibrant society, a thriving economy and an ambitious nation. By supporting social entrepreneurs, we’re working toward achieving the Kingdom’s economic aspirations of increasing SME GDP contribution by 20–30 percent by 2030. We are, therefore, excited to be back in Saudi Arabia and are honored to be working with the King Khalid Foundation in delivering this program, and building Saudi Arabia’s mentoring capacity to sustainably support change-makers and their surrounding ecosystems for years to come.”

The key to developing entrepreneurship and fostering economic development lies in having a well-balanced ecosystem with equal investment in four key pillars: Environment (schooling, parenting), finance (working capital, debt and equity financing), infrastructure (incubators, accelerators, utilities and sound legal frameworks) and human capital development (mentoring, skills and knowledge development). Mowgli supports the latter and has successfully delivered more than 110 mentoring programs across the Middle East, North Africa and sub-Saharan Africa.