Mufazzal Kajiji

The insurance industry in the Middle East stands at the threshold of phenomenal growth. Over the last few years, we have witnessed a remarkable transformation, fuelled by a deep understanding of customer needs, digitalisation and artificial intelligence (AI)-driven technologies and a dynamic regulatory environment.

The industry is collectively committed to listening to customers and understanding their unique challenges and aspirations. We are engaging in meaningful dialogue with individuals to offer products that align with the needs of the diverse population of the region. Insurance product distribution channels are becoming more structured and organized, paving the way for the industry to provide tailored solutions. Furthermore, AI-driven analytics enhance customer service today through intelligent virtual assistants and crucial data insights.

The regulatory changes we have seen over the last couple of years are also quite promising and highlight the commitment of the authorities to usher in changes that facilitate growth. These changes will set the stage for a mature, resilient insurance market going forward. In embracing these innovations, however, I must emphasize the need to focus on long-term goals and uphold ethical practices in the journey ahead.

As we flip through the pages of yet another incredible year at Zurich Middle East, my mind turns to the milestones we have achieved in 2024 and our strategic vision for the future.

Last year, we continued to position ourselves as a player of repute within the insurance landscape in the Middle East. Attention to ethical standards and integrity has been our guiding principle in cultivating our relationship with clients and stakeholders. We successfully launched several thought leadership initiatives, such as ‘The Blue Sofa’, an ongoing heartfelt campaign across the UAE, centred around two simple yet profound questions: “What are your dreams for yourself and your loved ones?” The initiative aims to spark meaningful conversations, inspire individuals to envision their futures and take actionable steps towards making those dreams a reality.

Another success was the launch of our specialized product, the ‘Education Savings Plan’, an initiative designed not just to provide funds for higher education but also to deliver essential financial protection for parents against unforeseen events such as death or disability.

Of the many outstanding achievements, one of the most significant has been our commitment to sustainability. Part of this corporate ethos has led us to sign the UAE Climate-Responsible Companies pledge launched by the Ministry of Climate Change and Environment (MOCCAE) and emphasize our responsible business practices that have contributed positively to society and the environment. These wins testify to our ambition of raising industry standards and creating an innovation-driven culture.

Talent development is another big focus. In this fast-moving, technologically developing world, taking care of our workforce is key. We invest heavily in upskilling to ensure our colleagues are prepared with all the AI tools they need to operate in a digital world without losing the human touch that defines our service. We believe in a culture where everyone can thrive professionally and personally.

By 2025, we are committed to scaling our operations, strongly focusing on customer-centricity in all aspects of what we do. We intend to grow our regional footprint, listen to our customers

continuously, and enhance their overall experience. Being part of this region for over three decades has given us the insight to take service and product delivery to new heights.

Over the next year, as we navigate the ever-changing landscape of our industry, let us trust all its dimensions. Trust in the market’s future by investing in strategies that will pay off in the long term. The insurance business takes time and patience; it is not built overnight.

The future is bright, and the opportunities for growth in the Middle East insurance industry are immense. Let us embrace this momentous shift with agility and innovation, pushing our industry forward into a new era of excellence. Here’s to a promising and prosperous 2025,