BREXIT AND THE INSURANCE SECTOR Towards 2020 and beyond

| June 15, 2018

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This report provides a snapshot of opinions from within the UK insurance industry as the UK undertakes the somewhat tortuous road towards Brexit. As part of this process we have undertaken in-depth interviews with 20 senior insurance executives and policymakers. The interviews were conducted between February and April 2018.

Spotlight

Amana Cooperative Insurance

AMANA, in Arabic language, means honesty and keeping covenant, which represents one of the solid foundations that Amana Cooperative Insurance Company relies on in planning its business strategy. The company adopted this definition as a principle of its culture for developing business in order to accomplish sustainable results for its shareholders on the long run, as well as to meet their needs and achieve security and protection for them.

OTHER ARTICLES

3 MODERNIZATION OPTIONS FOR INSURERS

Article | April 7, 2020

The global outbreak of coronavirus has exposed an unpleasant truth: many insurers are stuck with legacy systems that prevent them from offering seamless digital experiences to their customers and/or employees. Even more damaging, they can’t lower operating costs at a time when claims are climbing, and margins are disappearing. This isn’t a momentary problem. As bleak as things seem at the moment, one day this crisis will be over…and property & casualty (P&C) providers will still seek to modernize to remain competitive. Reconciling this seemingly contradictory mission – how can an insurer reduce operating costs while providing a better experience?

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Do Entrepreneurs Need Business Insurance?

Article | April 7, 2020

Being an entrepreneur is no piece of cake. You are going out on your own, venturing into a new industry and the future is unknown. Many factors will contribute to whether your new business will be a success or not. One of those factors is whether you purchase comprehensive business insurance from the get-go. Below, we will discuss what types of business insurance you should consider as an entrepreneur who is starting your own company.

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AI is Real—and It’s Helping Corporate Legal and Insurance Claims Professionals

Article | April 1, 2020

There’s been a lot of talk about artificial intelligence amongst those involved in the insurance technology (insurtech) and legal industries, and for very good reason. AI is a transformative technology that has the power to revolutionize how legal and claims litigation work is performed. Indeed, with AI in their corners, legal and claims professionals can address many of the challenges that they face on a daily basis, including cost control, staffing levels, compliance with billing guidelines, and more.

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The impact of Coronavirus on the insurance industry

Article | March 20, 2020

Unsurprisingly, that has had a knock on effect on financial service providers across the board and those in the insurance industry are no exception. In some cases insurers have started taking action to protect their businesses which, while sensible, left many consumers in the lurch as airlines failed to cancel flights and governments issued conflicting advice as to whether people should travel or not. Others in the insurance industry meanwhile are being forced into action to customers’ benefit by governments’ emergency responses to the virus.

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Spotlight

Amana Cooperative Insurance

AMANA, in Arabic language, means honesty and keeping covenant, which represents one of the solid foundations that Amana Cooperative Insurance Company relies on in planning its business strategy. The company adopted this definition as a principle of its culture for developing business in order to accomplish sustainable results for its shareholders on the long run, as well as to meet their needs and achieve security and protection for them.

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