Investment in automation will pay off

Source: Middle East Insurance Review | Aug 2020

Ahmed Khalifa, Managing Director, Sarwa Insurance

There will be an upside of the current crisis as we realise now that investing in automation will free up human resources to focus on growth, and lower organisational costs. I see AI and blockchain playing major and evolving roles in the near future. As a relationship business, insurance can surely benefit from figuring out how AI and machine learning can enhance customer service and experience, and I believe the digital disruption will reshape the entire insurance sector.

However, the potential recession will also directly impact how clients buy insurance covers, and therefore lead to a drop in overall premium volume since insurance will not be among customers’ top priorities in the next few years. M

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