Integrated Management System (IMS) Policy
The Insurance Authority is committed to the requirements of the Integrated Management System (QMS ISO9001: 2015, Environment ISO14001: 2015, Occupational Health & Safety ISO 45001: 2018, Social Responsibility ISO 26000: 2010, Customer Satisfaction - Complaints Handling ISO 10002: 2018 and Innovation Management BSI 6555-1).
Additionally, it is committed to continuously improve integrated management system, take all decisions and carry out all activities to regulate and supervise the UAE insurance sector in a way that ensures the provision of a favorable climate for its development and promote the role of the insurance industry to indemnify persons, property and liabilities against risks to ultimately protect the national economy; accumulate and grow national savings and invest them to support the economic development in the UAE, encourage fair and effective competition, provide the best insurance services, in line with the requirements of the Integrated Management System.
This will be achieved by:
- Compliance with all legal, legislative and other requirements applicable to the Insurance Authority.
- Promoting the culture of creativity and innovation in the Authority and enhancing the contribution in achieving the vision and strategy of innovation for the Authority and the UAE Federal Government by building, implementing and achieving plans, programs, goals, indicators and initiatives in the field of innovation.
- Managing and analyzing the processes, activities and services provided and working to improve them continuously to ensure that they keep abreast of all local and global developments.
- Preventing pollution, accidents and injuries and preserving natural resources, human health and the environment from any damage or pollution that may result from our operations. In addition to continuing to provide safe work environment for all employees and concerned parties who deal with the Authority.
- Effective management of occupational safety and health risks and work to reduce the level of impact and enhance workers' awareness of risks and measures to avoid their impact.
- Providing the necessary resources and defining the powers, responsibilities and accountability mechanisms necessary to implement the Integrated Management System efficiently and effectively.
- Working to enhance the customer satisfaction, handling and resolving customer complaints efficiently and effectively.
- Disseminating and promoting a culture of social responsibility and adherence to all its principles, which include: transparency, accountability, ethical conduct, respect for the interests of the concerned parties, respect for the rules of law, respect for the international norms and respect for human rights. Eventually, this will lead to the achievement of sustainable development and the social, economic and environmental welfare of the individual and society alike.
- Identifying, analyzing, studying and fulfilling all the requirements and expectations of the stakeholders and concerned parties related to the services and operations of the Authority. As well as working to provide the necessary support in the economic, environmental and social fields and improving customer satisfaction and happiness, in cooperation with partners and insurance companies that are supervised and their compliance with the requirements of customers and the Authority.
Policy of Governance, Risk Management and Business Continuity
The Insurance Authority is committed to the requirements of the BS 13500 Corporate Governance, Risk Management ISO 31000: 2018 and Business Continuity Management ISO 22301: 2012. Additionally, it is committed to continuously improve, take all decisions and carry out all activities to regulate and supervise the UAE insurance sector in a way that ensures the provision of a favorable climate for its development and promote the role of the insurance industry to indemnify persons, property and liabilities against risks to ultimately protect the national economy; accumulate and grow national savings and invest them to support the economic development in the UAE, encourage fair and effective competition, provide the best insurance services, and governance of the UAE insurance in line with the requirements of the Global Governance Principles.
Furthermore, the Insurance Authority is committed to:
- Fulfillment of all legal, legislative, regulatory and other requirements applicable to the Authority.
- Managing the relationship with stakeholders efficiently and effectively, as well as, promoting and spreading the culture of compliance with the principles of governance among all stakeholders within the scope of their influence.
- Maintaining and promoting a positive work environment and organizational culture that recognizes the importance of adhering to the principles and standards of governance in enhancing the contribution of the Authority in serving the economy and society in the State.
- Corporate risk management, which includes identifying, analyzing, evaluating, addressing and following up the level of impact of corporate risks in all its forms efficiently and effectively through the use of proper controls, updating corporate risk registers on a regular basis and continuous improvement of corporate practices in the field of risk management to minimize the level of impact on the organization.
- Conducting comprehensive business impact analysis and preparation of plans and strategies to meet business continuity requirements.
- Preparing programs, plans, goals, indicators and targets related to governance, risks and business continuity and working on monitoring their achievement efficiently and effectively.
- Providing the necessary resources and defining the powers, responsibilities and work mechanisms necessary to implement the governance, risk management and business continuity systems efficiently and effectively.
- Creating effective integration between the activities, decisions and services of the Authority on the one hand and the requirements of the stakeholders on the other hand. In addition to making the principles and requirements of corporate governance as the basis of its relations with stakeholders.
The Governance Principles includes:
- Compliance and Rule of Law
- Supervision and Accountability
- Disclosure and Transparency
- Sharing, responsiveness and harmony with stakeholders
- Efficiency and Effectiveness
The senior leadership of the Insurance Authority undertakes to adopt a set of priorities, objectives, initiatives and programs that will ensure continuous improvement on its practices, decisions and results in the field of governance, risk management and business continuity.
These objectives include:
- Promoting the application of standards, principles and practices of governance in the Authority and the insurance companies in the State.
- Promoting the effectiveness of corporate risk control.
- Promoting the effectiveness of the business continuity system in the Authority
- Promoting the satisfaction of stakeholders with the practices of the Authority and the insurance companies in the field of governance, risk management and business continuity
Furthermore, the Authority undertakes to periodically contribute to and publicize its performance in the field of governance, risk management and business continuity through the periodic performance report.