Director General of the Insurance Authority Ibrahim Al Zaabi revealed that the Insurance Disputes Settlement Committees started their work in Dubai as of the beginning of this week, after a number of complaints that were under their work were collected. A similar number of complaints.
Al Zaabi said in a press statement in Abu Dhabi at the end of last week that there is a noticeable decrease in the rate of complaints during the last period, and reached about 800 complaints in the first half of 2019, thanks to the separation of complaints from inquiries, in addition to the application of the standard documents system Of loopholes and things that were raising the proportion of complaints in the coming years.
Al Zaabi stressed that the Insurance Authority supports the process of Emiratisation, and looks at the subject with a holistic view that does not depend on the number, but on the quality of jobs, and also focuses on training, since the insurance sector is typical and specialized, noting that the rate of Emiratisation is currently 12%.
He pointed out that 2018 saw the appointment of 220 citizens in the sector, and the largest volume of employment for citizens over the past years, hoping to increase the number after the decision of the Council of Ministers to settle 540 jobs in the insurance sector during the next three years.
Al-Zaabi said that the insurance sector has witnessed a remarkable development over the past 10 years and has been growing, expecting to grow at an annual rate of 10%.
Al Zaabi revealed that the Authority is currently reviewing the system of actuaries and instructions for detection experts, and has also recently submitted draft websites.
He stressed that the Authority encourages the issue of mergers and acquisitions between companies, in light of the high number of companies in the market.He said that the Authority is receiving requests, but there is nothing actual so far, hoping that there are real steps to form huge entities competitive.