Senior technology executives will discuss the anticipated impact of artificial intelligence (AI) on the insurance industry at the 21st Gulf Insurance Forum in Dubai next week.
The UAE will host the 21st Gulf Insurance Forum on 26-27 October, bringing together more than 200 CEOs and insurance and reinsurance experts from 25 Arab and international countries.
Set to be held over two days at the Millennium Plaza Downtown Hotel in Dubai under the theme “Redefining Insurability: Risk, Capital, and Trust in a Systemic World”, the Forum is organised by the Gulf Insurance Federation. It will explore the evolution of AI as a transformative force reshaping everyday life, economic systems and decision-making processes, with particular emphasis on its potential impact on the insurance industry.
The Forum will also highlight how the UAE’s national vision and strategic initiatives in AI strengthen the country’s position as a regional and global hub for AI development, talent attraction and innovation.
A distinguished group of senior executives from leading local and regional technology and AI companies will examine how AI is transforming various industries and assess its anticipated implications for the insurance sector.
Cyber and AI-related risks in insurance
The Forum will also address cyber and AI-related risks in insurance through a discussions and analytical sessions. Particular attention will be given to legal liability and operational risks associated with AI from an insurance perspective, with an emphasis on underwriting discipline and policy wording.
Discussions will also cover cyber risks that are not explicitly addressed or are excluded under insurance policies, as well as data governance, the monitoring of risk accumulations and the assessment of exposure across insurance portfolios.
Alternative capital and the future of reinsurance
Another key topic will be the growing role of alternative capital as a response to the structural pressures facing the traditional reinsurance market, amid rising insured values and increasing claims costs driven by inflation.
In this context, the Forum will examine the contribution of capital markets through catastrophe bonds and insurance-linked securities (ILS), which provide alternative sources of risk-bearing capacity for the insurance and reinsurance sectors.
The Forum will further explore how insurance companies can strengthen their financial resilience through effective capital management, alignment with regulatory requirements, and the implementation of robust governance and compliance frameworks.
Participants will examine the pivotal role of actuarial departments and functions in translating capital strategies, regulatory requirements and risk appetite into effective day-to-day operational decisions.
Addressing the challenges facing the GCC insurance market
The 21st edition of the Gulf Insurance Forum carries particular significance given the importance of the topics on its agenda and the participation of local, regional and international experts from numerous countries. Their experience and insights are expected to enrich discussions and contribute practical solutions to the challenges facing the insurance industry across the GCC countries.
These challenges are particularly relevant amid geopolitical volatility and risks, their impact on the broader economic environment across the GCC, and the resulting implications for risk pricing. Other pressing issues include tighter reinsurance terms and conditions, as well as the growing risks associated with climate change and extreme weather fluctuations amid the El Niño phenomenon.
At the same time, the global insurance industry is witnessing innovative developments in risk management aimed at addressing the limitations of traditional insurance and enabling faster responses to major crises. These solutions include parametric insurance, catastrophe bonds, advanced cyber insurance and supply chain insurance, among other emerging risk-transfer mechanisms.
Strategic driver of insurance transformation
This year’s forum will place particular emphasis on the role of AI and its anticipated impact on the insurance industry. AI is increasingly emerging as one of the most influential technologies reshaping the relationship between insurers and their customers, while serving as a strategic enabler for the transition from traditional operating models to more customer-centric approaches.
Market forecasts indicate that the global AI market in the insurance sector is expected to grow from $19.60bn in 2025 to $26.30bn in 2026, before reaching $114.52bn by 2031.
Against this backdrop, the Forum will provide a platform for industry leaders and experts to exchange insights, examine emerging trends and explore strategies to strengthen the resilience, innovation and competitiveness of the insurance sector in an increasingly complex and rapidly changing global environment.
Middle East Insurance Review and its sister publication, Asia Insurance Review, are media partners at the 21st Gulf Insurance Forum.