The 19th Annual Gulf Insurance Forum 2024 will be held in Dubai on October 15-16.
With the participation of over 250 officials and insurance experts from 36 Arab and foreign countries.
Alongside representatives from Arab insurance federations, the Afro-Asian Federation of Insurance and Reinsurance Companies, and regulatory bodies.
The forum, held at the Swiss Movenpick Hotel Dubai, will focus on “Insurance Strategies To Face Natural Disasters” on the first day.
Particularly addressing the financial impacts of recent floods in some Gulf Cooperation Council (GCC) countries and their effects on insurance companies.
It will also explore ways to enhance risk management practices and risk modeling.
What are the key events of Gulf Insurance Forum 2024 ?
On the sidelines of the forum, panel discussions will be held with experts from regional insurance companies and global reinsurance firms.
They will tackle key technical issues related to insurance.
Especially the challenges posed by climate change and its impact on the insurance sector in the region.
As well as enhancing the sector’s capacity to deal with sudden challenges in the future.
On the second day, the forum will discuss and analyze the topic “Era of Smart Insurance”.
With focus on how AI and machine learning technologies can contribute to the insurance industry.
It will also address topics such as telecommunication, the Internet of Things, and their applications in insurance pricing and claims.
Regional and international officials and experts will participate in a panel titled “Unlocking Hidden Value in Insurance Data and Analytics”.
Followed by another panel discussion on “Addressing Ethical, Legal, and Regulatory Challenges in Modern Technologies.”
AI Role in Insurance
In fact, AI will play a significant role in the Gulf Insurance Forum 2024 discussions.
Particularly its potential to improve the accuracy of predicting climate risks and enable fairer insurance pricing.
Accordingly, insurance companies must develop their models and analytical tools to better predict future risks.
The region needs to enhance its engagement with these developments.
Especially in light of international experts’ forecasts predicting 100% growth in AI within the next five years.
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