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Tunis ReNews Letter
The 32nd GAIF Conference and General AssemblyYasmine Hammamet, from 24 to 27 June 2018
«Digital Transformation and the Insurance Industry in the Arab World»
Under the patronage of His Excellency the President of the Republic of Tunisia and under the aegis of the GAIF, the General Arab Insurance Federation the 32nd GAIF Conference and General Assembly was held in Hammamet from 24th to 27th June 2018 under the theme «Digital Transformation and the Insurance Industry in the Arab World».
This important meeting of Arab insurers and reinsurers, held for the third time in Tunisia, was jointly organized by the Tunisian Reinsurance Company «Tunis Re» and the Tunisian Federation of Insurance Companies, «FTUSA».
This high-level professional event was also an opportunity for fruitful exchanges between insurers, reinsurers and international brokers, in a friendly atmosphere.
The opening ceremony was marked by the presence of Mr. Ridha Chalghoum, Minister of Finance, Mr. Abdelkhaleq Raouf Khalil, GAIF Secretary General, The outgoing President of GAIF, Mr. Max Zaccar, Mr. Hafedh Gharbi, Chairman of the General Insurance Committee, Mr. Lassad Zarrouk, President of FTUSA and Mrs. Lamia Ben Mahmoud, chairman and CEO of «Tunis Re».
Nearly 1,500 participants from the Arab world and several other countries in Africa, Europe and Asia, mark the great success of this event.
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Supplement to N°25
Mr. Mohamed Ridha Chalghoum, Tunisian Minister of Finance, stated that the insurance industry should learn from the experiences of other industries namely banking and telecommunications as they have adapted to technological changes. These industries have used technology to reach larger masses, expand their business and respond quickly to their customers, he added.
Chalghoum called insurers to adopt new strategies, create new distribution channels and find innovative ways to settle claims and serve customers to keep pace with technological transformations.
For his part, Mr Abdelkhaleq Raouf Khalil, GAIF Secretary General said that technology is changing the way the world works and that digital revolution is the challenge of the day. Nevertheless, every challenge is an opportunity for growth.
But insurers will need to organize and improve market practices, introduce innovative products and adopt unconventional methods.
Technological progress is accelerating the pace of change, he confirmed.
Mr. Lassaad Zarrouk, President of FTUSA, then stated that the theme of this year’s conference reflects the challenges facing the Arab markets.The digital transformation, or the fourth industrial revolution, is an intellectual and cultural leap. As a result, insurers need to change their conventional procedures when dealing with customers, he said, urging insurers to take advantage of emerging technologies.
Mrs Lamia Ben Mahmoud, Chairman & CEO of Tunis Re, emphasized that digital transformation has become unavoidable, which the insurance industry should recognize. Insurers in the Arab world are required to adapt their business strategies to the new standards of change in order to survive and better serve future generations. New technologies, including IoT, InsurTech and digitization, will have a significant impact on the sustainability of the insurance and reinsurance business. As a result, suppliers should forge appropriate strategies to keep pace with new technological challenges and take bold actions to adopt the change.
Dr. Ali Al-Wazani, CEO of GIG Jordan, shared with the attendees the results of a study on the development of digital transformation in the MENA region that covered 400 companies in 18 markets.
The study showed that Internet and mobile penetration exceeded 50% in 12 Arab countries and indeed even more than 100% in some GCC countries. This rate was the highest in Kuwait with 150%, according to this study.
In addition, there are 1.2 billion IoT devices in the Arab world compared to 11.6 billion in the whole world.
The results showed also that 73% of people use mobile internet for an average of 10 hours a day. According to Dr. Al-Wazani, the top three fields that will be the most affected by digital transformation are : Product distribution and delivery, customer analytics and monitoring systems, and digital products and services.
The 32nd GAIF Conference and General Assembly - Yasmine Hammamet, from 24 to 27 June 2018
The 32nd GAIF Conference and General Assembly - Yasmine Hammamet, from 24 to 27 June 2018
ORGANIZING COMMITTEE
Mr Lassad Zrrouk, President of FTUSA and President of the Organizing Committee.Mrs Lamia Ben Mahmoud, Chairman and Chief Executive Officer of «Tunis Re».Mr Lotfi Belhadj Kacem, General Manager of «Hayett».Mrs Amel Talbi : FTUSAMr. Imed Hamdi : FTUSAMr. Said Radouche : Tunis ReMr. Mustapha Chamri : Tunis Re
PARTICIPANTS
The 32nd GAIF Conference and General Assembly was attended by 1500 delegates from several countries: Maghreb (130), Arab countries (730), Europe (170), Africa (30), Asia (60), Others (17).
1st Day
Digital Insurance In the World: Present and FuturePresident of the Session: Mr. Jalloul Ayed – Chairman «VEGA Group»
Digitalization: what does it really mean?
Présenté par :
- Dr. Winfried Heinen– Chairman of General Reinsurance AG – Germany.
- Mrs. Solange Ghernaouti, Professor University of Lausanne - Switzerland.
New technologies and their impact on the development of the insurance industry.
Presented by Mr. Laurent Montador, Deputy General Director, Caisse Centrale de Réassurance «CCR» France.
2nd Day
The Future of the Arab Insurance Market within the context of Digital Transformation”President of the Session: Mrs. Lamia Ben Mahmoud, CEO Tunisian Reinsurance Company “Tunis Re”.
Organizing the insurance industry in the Arab world in light of digital transformation / opportunities and challenges.
- Presented by Dr. Ali Alwazani, CEO of GIG Jordan.
MENA Insurance Pulse.
- Presented by Dr. Henner Alms founding partner of Dr. Schanz, Alms & Company.
CONFERENCES
Tunis Re Newsletter – Special Editionhttp://www.tunisre.com.tn/medias/pdf/LAssurance.Digitale.pdf
3rd Day
- Mr. Brian Botkin – Global Head of Multinational, Financial Lines «AIG - USA».
Insurance Business Model with IOT (Internet of Things).
- Mr. Nizar AYED, Initiator of Geniuses, Upgrade-code.France.
- Mr. Pepe Castelo, Managing Director , GTMOTIVE, France.
Insurance Cyber Risks and Data Privacy?
President of the Session: Mr. Abdul Khaliq Raouf. Khalil – Secretary General – “GAIF”
“Insurance Cyber Risks and Data Privacy”- Mr. Bernard Poncin, Global Head Financial Lines. Allianz,Germany.
- Mr. Andreas Bollmann–Client Management Executive Munich Re –Germany
Director of Publication : Mrs Lamia Ben Mahmoud
Société Tunisienne de Réassurance 12, Avenue du Japon Montplaisir - B.P 29 - 1073 Tunis - Phone : (216) 71 904 911 Fax: (216) 71 904 930 R.C. : B1115971996
Contact : Marketing Department Web site : www.tunisre.com.tn Email : [email protected]
Gala Dinner of Tunis Re
On the occasion of the 32nd GAIF Conference and General Assembly, Tunis Re invited all participants to a Gala Dinner at the hotel «The Royal» Hammamet hosted by Tunisian stars Lotfi Bouchnak and Sofia Sadek, as well as a traditional Tunisian haute couture fashion show with new creations by the stylists Najeh Derbal Dagdoug, Samira Zarga and Faouzi Naouar.
