Speakers at the recent 5th Healthcare Insurance Conference in Dubai said that the progress the UAE has achieved in health insurance services has helped the sector to retain its regional leadership and will support the country’s efforts to become a reliable healthcare destination.
Sultan Al Mansouri, Minister of Economy and Chairman of the Insurance Authority (IA) in the UAE, said that health insurance premiums have grown to account for almost half of the UAE market premium income in 2017, and that medical insurance plays a key role in expanding awareness of using insurance as a social protection tool on the country.
Al Mansouri highlighted the progress that the UAE insurance sector has made, with growing premiums and increased capacity and diversity of insurance services: “The UAE has transformed into a global centre in the insurance field … providing insurance services not only locally but also in other states in the region in general.”
He also said that the UAE has preserved its leadership as the largest insurance market in MENA for the past decade. “This demonstrates the strength and capacity of the insurance market and the vital role it plays as one of the main tools in facing risks and in protecting individuals and properties against any possible perils,” he said.
Fareed Lutfi, Secretary-General of Emirates Insurance Association (EIA), underlined the importance of innovation in strengthening the quality of healthcare services: “It will also support the position of the country as a global destination in providing smart healthcare with the use of smart technology.”