UAE – Companies are not innovative
Friday, 06 05 2015, Category: Insurance and Reinsurance, Country: U.A.E
Experts described insurance companies especially “Takaful” ones as passive without innovation confirming that most companies have weaknesses in providing new products.
The executive director of Arabian Gulf Insurance Service Mr. Saeed Muhairi said that local insurance companies have weaknesses when it comes to innovation confirming that there are not initiatives to provide products and insurance solutions that fit the market.
Moreover, the executive director of UIB Insurance Brokers, Mr. George Kabban said that insurance companies have to be innovative that create products that answer the needs of the market.
And he noted that foreign companies are more innovative in the local market, and that Takaful companies need urgently to be more innovative in this field.
Source: Al Roeya - UAE