In a recent report by Gulf Business, Zurich International Life Middle East CEO Mufazzal Kajiji, discussed the rapid evolution of the Middle East insurance sector and its promising future. Mr Kajiji highlighted the crucial role of customer centricity, digital transformation and regulatory advancements in shaping the trajectory of the industry.
He said that the region has experienced significant growth driven by the industry’s commitment to understanding the diverse needs of its population. As product distribution channels become streamlined, insurers are better positioned to offer targeted solutions, while AI has enhanced customer service through virtual assistants and data-driven insights.
Mr Kajiji also said ethical practices must be maintained amidst these innovations. He called for a focus on long-term goals while upholding integrity and transparency in all aspects of the business. Looking back on the sectors achievements in 2024, he pointed to initiatives such as the launch of new customer- centric products and a growing commitment to sustainability. The latter included the signing of the UAE Climate-Responsible Companies pledge.
He said that scaling operations and refining the customer experience would be central to the insurance industry’s success. He said that the business required patience while long-term efforts were critical for consistent growth.