Qatar Insurance Company (QIC), the leading insurer in Qatar and the MENA region, has been recognized as ‘Motor Insurer of The Year’ at the InsureTek Golden Shield Excellence Awards 2023 for the second consecutive year.
The InsureTek Golden Shield Excellence Awards is an annual awards program that recognizes and rewards leading insurers, reinsurers, and insurance brokers in the wider Middle East region. The program sheds light on innovators, creative minds, and customer care professionals who have outperformed their competitors and demonstrated the highest levels of excellence across the region. It is part of the InsureTek International Conference which took place this year in Dubai on 22nd-23rd February.
Commenting on the award, Mr. Ahmed Al Jarboey, QIC’s Chief Operating Officer – Qatar Operations, said: “Motor insurance has been one of QIC’s key areas of expertise for nearly six decades, and we are proud that our motor products and services continue to be trusted by our customers and recognized by the industry experts regionwide”.
In addition to winning an award, QIC Group’s Chief Digital Officer, Lars Gehrmann participated in a panel discussion under the title “Embedded Insurance 2.0” where he discussed the importance of embedded insurance as an alternative distribution channel and the need for product innovation and digital conversion optimization in the MENA region, as well as QIC’s preparedness to lead this change, by combining QIC Digital Ventures Partners ability to define new digital products and business models with Anoud Tech as a tech enabler and Antares Global giving underwriting support for global distribution deals.
Moreover, during the second day of the conference, The MENA Insurtech Association held the UAE chapter of its startup competition under the name “When Insurtechs Take the Stage”, where 13 startups pitched their solutions to a panel of industry experts who selected the top six ideas that will go on to represent the UAE in the upcoming MENA Insurtech Summit in Doha, May 2023.
The MENA Insurtech Association, which is powered by QIC Group through its Digital Venture Partners unit, is a membership based association that was founded in 2022 with the primary goal of building the insurtech ecosystem through connecting innovations, talents, partners and capital.
Qatar Insurance Company is a publicly listed insurer with a consistent performance history of over 58 years and a global underwriting footprint. Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA regions. QIC is the largest insurance company in the MENA region by total assets. It is listed on the Qatar Stock Exchange and has a market capitalisation of QAR 5.5 billion.
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