Takaful to change the face of Insurance 

(MENAFN Press) Takaful “ the Islamic alternative to conventional insurance “ represents a radical new insurance business model that is firing a potentially very big emerging market in the MEA. Now in it's third year, the Middle East and Africa Insurance Summit, will be held on 14-15 January 2013 in Dubai, UAE.

The MEA insurance market is characterised by a large number of players in a limited market. With a majority of these being unregulated, there exists a cut-throat price war; demanding a need to set up effective regulations that will see the desired consolidation and fuel commercial growth. Takaful “ the Islamic alternative to conventional insurance “ represents a radical new insurance business model that is firing a potentially very big emerging market in the MEA.

Now in it's third year, the Middle East and Africa Insurance Summit, will be held on 14-15 January 2013 in Dubai, UAE. The conference will explore the progress of the Middle East and Africa insurance market focused on maintaining profitable business in the sector and the change they are experiencing as leading industry players implement re-tooled strategies to tap into the enormous growth potential that the region offers.

The conference will bring together insurance authorities, associations, insurance experts, technology providers and CEOs of leading Insurance firms on one platform. The key topics to be discussed will include insurance and re-insurance strategies, real time updates on Takaful, effective risk management strategies, opportunities to upgrade the technology systems, trends, opportunities and challenges in bancassurance, M & A strategies, Corporate Governance strategies, and best practices to function post Arab Spring.

Very few people have the opportunity to learn from a gathering of professional advisors such as those who will be sharing information at the conference. Her Excellency Fatima Al Awadi, Deputy Director General, UAE Insurance Authority will speak at the event giving an insight about "The latest development in the Regulation of UAE Insurance Market".

The conference will be held under the patronage of Emirates Insurance Association, whose chairman, His Excellency Eng. Saleh Bin Rashid Al Dhahiry will give the inaugural speech at the conference. The elite speaker panel will also include industry movers and shakers like KK Jayarajan, Deputy General Manager, Al Fujairah National Insurance Co, Amol Shah, Business Head “ Bancassurance, First Gulf Bank Group, Fatai Lawal, Managing Director/CEO, Sterling Assurance and former President, West African Insurance Companies Association (WAICA), Mr. Ravi Shankar, CEO, Oman United Insurance Company etc.