The IA organizes a brainstorming session for company managers on innovation to develop insurance services

: 4/15/2015

Abu Dhabi, April 15, 2015

 

The Insurance Authority (IA) organized a brainstorming session for the managers of national and foreign insurance companies operating in the UAE on innovation to develop the services of the insurance sector in order to realize the vision of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates the declares 2015 as the "Year of Innovation" in the UAE.  

 

H.E. Ibrahim Obaid Al Zaabi, Director General of the IA, addressed the brainstorming session, which was attended by the general managers of the national and foreign insurance companies, and said that the session aims at developing the services provided to policyholders and beneficiaries of insurance as the insurance sector is one of the promising sectors to develop the national economy and increase the contribution of insurance premiums to the UAE gross domestic product.

 

He added that the session is organized due to the importance of public and private sector partnership in searching how to render insurance business innovative in terms of delivery of better services, studying the most recent techniques to develop the concept of insurance services, and to better adapt the policies and procedures in order to reach innovative services to serve the customers, with the objective of achieving the vision of the wise leadership to advance the UAE into the world's most innovative nation.

 

Mr. Al Zaabi confirmed that the IA is committed to engage the insurance companies in dialogue and in-depth discussion on all insurance issues to improve the UAE market competitiveness and boost the growth of this vital sector which sees increasing growth and progress in parallel with the outstanding growth of national economy. He indicated that the session aims at taking the insurance sector to the future based on innovative foundations.

 

He said that innovation has become a key feature and an outstanding title in business development and development of customer service culture in the UAE, out of the vision of His Highness Sheikh Khalifa bin Zayed Al Nahyan declaring 2015 as the "Year of Innovation" and in realization of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, and Ruler of Dubai, on the national innovation strategy which aims at making the UAE among the world's most innovative nations within the next seven years.

 

He said that according to the above, the IA declared creativity and innovation as one of the key values sought to be adopted and activated at the level of the IA and the sector by developing the dialogue of innovation which focuses on developing the innovation value as a key drive to develop all work areas, especially in the field of service delivery, increasing the effectiveness of procedures in this field, and catching up with the state-of-the-art technical and technological developments.

 

He pointed out that the IA sees innovation as a key catalyst of creating the future, being the real capital which puts the institutions and companies at the forefront and enables them to face the challenges and exceed the competition which exists in all aspects of work today.

 

His said that the companies that work on innovation are the ones that guarantee survival and continuity for a long time and be able to develop themselves, achieve sustainable growth, and face the rapid changes in the business world.

 

He added that the IA's vision of innovation is based on a real conviction that generation of ideas and innovation is not a secondary work or a supplementary activity in business, or an individual work. Yet, it is a fundamental and organizational act when the serving of customers is the culture of the entire institution, where every individual is keen to serve the customers and compete to provide the best services.

 

He pointed out that under the increasing expectations of the society and the demands of customers of all levels and categories, permanent and ongoing "innovation" is the only solution to meet such expectations and realize demands to provide "seven stars" services to the customers.

 

Mr. Al Zaabi said that the requirements to provide the customers with "seven stars" services are based on many key pillars, most importantly, setting unconventional frameworks to instill the culture of innovation, develop a work environment that promotes solutions, creating new ways for service delivery, developing the economy to boost the UAE international competitiveness, creativity and innovation in communication and outreach, launching the knowledge councils, through which the ideas, suggestions and experiences are exchanged amongst the workers in the sector, and adopting an excellence platform in the entire sector.

 

He affirmed that the session is important to those in charge of the insurance industry in the UAE as it aims to cooperation to find creative ideas for service delivery that exceed the expectations of customers of policyholders and beneficiaries of the insurance activities in terms of communicating with customers via multiple ways that save time, effort, and cost, in addition to the areas of applying electronic services to the customers in terms of services of buying insurance policies and payment of compensations via the internet and smart phone applications.

 

The pointed out the importance of establishing a customer service center in every insurance company within the "seven starts" service specifications, through which different customer categories are handled while focusing on considering their cultural and social differences.

 

He said he hopes that the companies present innovative ideas and creative visions, which are harmonized with the common aspirations and goals, and contribute in developing the capabilities of the UAE insurance market, boost the service culture, and develop the concept of serving various customer categories, and consequently handling the present challenges and win the future prospects.

 

Mr. Al Zaabi reviewed the IA's strategy which includes its vision to become a leading entity in the regulation and development of the insurance sector and improving the competition standards worldwide, in addition to its mission, value, strategic objectives, and key initiatives to develop the insurance sector.

He pointed out that the IA's key strategic objectives are represented in regulating and developing the UAE insurance sector, supervising and overseeing the insurance sector to ensure compliance with the laws, and promoting the UAE as a regional and international insurance hub. Other objectives include boosting the relationship with the federal and local bodies and ensuring that all administrative services are delivered as per the quality, efficiency, and transparency standards.

 

In turn, during the workshop, the Organizational Development Office team delivered a presentation on the "Emirates Government Service Excellence Program" application to achieve the UAE Vision 2021 becoming one of the top nations worldwide. The team also presented the program's vision to provide excellent "seven stars" government services and adopting the strategic directions with a government that focuses on the customers and an inherent and competent government.

 

The presentation addressed the customer's typical course as it is represented in four key pillars, namely, receiving of service, submitting of service application, communication during the course of procedures, and service completion, in addition to the key customer satisfaction principles  in the UAE government, service quality, and complaint processing.

 

Then the presentation reviewed the national innovation strategy, its four tracks, and the key pillars of innovation which include setting unconventional frameworks to instill the culture of innovation and developing initiatives of insurance service delivery to the policyholders.

 

Later, the brainstorming session on innovation in the development of insurance services began. Managers of companies presented ideas to develop the insurance services provided to customers. The ideas include adopting the Emirates Government Service Excellence Program by the insurance company and seeking to use modern technology in service delivery as well as adopting advanced mechanisms to serve the customers.

 

On their part, the managers of insurance companies said they appreciated the IA for taking the initiative of holding the session which was one of the key steps adopted by the IA to boost the partnership between the public and private sectors.

 

They commended the practical steps taken by the IA recently, whether in terms of legislations or transforming its services to the companies to smart services, which saves the time and effort of companies and generally boosts the UAE insurance market performance.

 

The managers confirmed the importance of holding such gatherings on a regular basis to discuss the issues that increase the competitiveness level of the UAE insurance sector and boost its international position.

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