QIC Holds the First-Ever InsurTech MENA Summit

  • Publish date: Monday، 27 June 2022
QIC Holds the First-Ever InsurTech MENA Summit

The summit brought together investors, InsurTech company finalists from "InsurHack MENA," and leaders in the field of technology.

An important turning point in the evolution of insurance was marked by the Qatar Insurance Company Group's (QIC) InsurTech MENA Summit 2022, which highlighted the growing significance of partnerships within the insurance sector.

Hundreds of technology innovators, investors, and insurance leaders gathered at this first-of-its-kind event hosted by the top insurer in Qatar and the MENA region, in collaboration with Deloitte, Google Cloud, and QIC Digital Venture Partner (QIC DVP), to brainstorm ways to improve customer experiences in the mobility and health insurance verticals.

In addition to promoting the Insurtech MENA ecosystem, the event concentrated on innovative value propositions and solutions in big data analytics, artificial intelligence, machine learning, behavioral economics, and conversational AI.

More than 2500 people watched and interacted online during the first hybrid event hosted by QIC Group, while more than 250 people attended the one-day summit at the St Regis Hotel with speakers, guests, and delegates traveling to Qatar from all over the world.

Six Insurtech startup finalists from "InsurHack MENA," the first InsurTech Hackathon in the MENA area, as well as pioneers in the insurance and technology industries and investors, attended the conference.

Together with Deloitte, Google Cloud, and QIC Digital Venture Partner (QIC DVP), the QIC Group's venture builder arm, who are delivering on the ground and who came to share innovation, trends, and insights around insurance in the region, the event was also organized by the QIC Group. Leading entrepreneurs and insurance thought leaders interacted with the guests.

Salem al-Mannai, CEO of QIC Group, stated after the summit's conclusion, "We used our tremendous regional and global influence to construct this platform and create this critically needed community in the region. We at QIC Group and our partners were able to reunite after "InsurHack MENA" for a day of discussion, inspiration, and recommitment to the goal of changing the digital insurance landscape in the area by creating new digital ventures and strategically investing in early-stage Insurtech startups with high growth potential.

The InsurTech MENA Summit 2022 was another effort made by QIC Group to demonstrate its commitment to Qatar's resolve to cut greenhouse gas emissions by 25% by the end of 2025 as a responsible insurer and investor.

"InsurTech MENA Summit 2022 gave insurance companies, IT companies, and governmental organizations a platform and a chance to extend their digital businesses into new markets, both regionally and globally," stated Al-Mannai.

The CEO further emphasized that the QIC Group's major goal is to increase shareholder value by creating a globally successful, lucrative, and socially and ecologically responsible organization with a focus on Qatar.

The InsurTech MENA Summit's highlights include:

Richard Hurley, the consulting partner at Deloitte Middle East, wrote an article titled "Insurance Innovation in the MENA Region." the power of automobile insurance in the MENA area, the rise of entrepreneurs creating an ecosystem powered by health data; The post-pandemic future of travel insurance from Digital Health & Insurance; How venture capital investments in Insurtech develop in the MENA area; How corporations are using disruptive innovation from startups; How innovation might aid established insurance companies in catching up to Demo session and the first InsurHackMENA winner's announcement (AVEY).

Digital Venture Partners (QIC DVP), a business entity that is swiftly becoming the ecosystem orchestrator for Insurtech and the go-to-digital insurance partner in the MENA area, was introduced by QIC Group last April as part of its digital strategy.

By creating new digital businesses and making strategic investments in high-potential early-stage entrepreneurs, QIC DVP hopes to alter the digital insurance sector with InsurHackMENA.

The InsurTech MENA Summit 2022 is also organized in collaboration with Plug and Play Middle East, the premier innovation platform in the Middle East, QLM Life & Medical Insurance Company, the top medical and life insurer in Qatar, and Anthems, the world's leading Insurtech venture capital. Prifina is a leading personal data platform in Silicon Valley.

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