1134 citizens constitute 11.2% of the total employees in the insurance sector

Insurance Authority: Approving a system of fines and incentives to implement the Emiratisation strategy

The Insurance Authority held joint workshops with insurance companies.

Photography: Eric Arazas

The Insurance Authority said that after the Cabinet's decision regarding the new Emiratisation strategy was issued with the points system, it worked to develop an integrated plan aimed at an integrated implementation of the strategy, in cooperation with insurance companies and relevant parties, and a set of most important measures were taken during 2019 in this regard.

Fines and incentives

The Insurance Authority confirmed that a system of fines and incentives had been approved for implementing the Emiratisation strategy, as well as participating in Emiratisation accelerators workshops, and establishing a CV bank for those wishing to work in the insurance sector, so that companies would post vacancies to citizens on the website of the Insurance Authority.

In its annual report on the sector’s activity, the Authority stated that joint workshops have been held with insurance companies, and specialized studies and questionnaires have been updated to study market needs, citizens, and the sector’s training needs, collect data, calculate the target points and analyze the results.

Number of employees

The Authority revealed that the total number of employees of insurance companies of various nationalities at the end of 2019 reached a total of 10 thousand and 134 employees, as the number of citizens reached 1134 citizens, or 11.2%, while the total number of citizens in specialized technical professions reached 696 citizens Workers, which represents more than 61% of the total number of employed citizens, which reflects the success of the Emiratisation strategy in attracting citizens to professional careers in insurance.

Action Plan

The Insurance Authority confirmed that it is working on a strategy and plan of action aimed at meeting the needs of the labor market of citizens by offering a number of professional and training programs, through which it seeks to bridge the gap of skilled and specialized national cadres in the field of insurance, which is witnessing steady growth.

She explained that the priority professions have been identified, especially the professions in which the sector faces a gap of offer in terms of employing national cadres, so that the Emiratisation guide is amended regarding the regulation of specialized professions in the insurance sector, in order to give additional points in the event that there are citizens to fill these jobs.

Professional academy

The Insurance Authority confirmed that training in the Authority is one of the means of developing the national human resources in the insurance sector, which it relies on in raising the level of functional competency of the employees, both citizens and workers.

She pointed out that, in her belief in the necessity to grant comprehensive development opportunities to all national human cadres working in the insurance sector, and for the purposes of developing performance, enhancing the competitiveness of the insurance sector, and achieving goals according to the set strategic plans, the Insurance Authority Academy for Professional Training has launched, which aims to offer specialized training programs. In the field of insurance, financial and actuarial sciences, and financial crime combating sciences.

She added that the professional academy aims to rehabilitate and train national human cadres free of charge in insurance specialties in all fields, referring to the most important programs that have been launched in the academy, namely: the “My Skills” program for qualifying and training national human cadres, and the “Future Leaders” program (Diploma in Insurance) And an actuarial program, in cooperation with international actuarial societies, as well as the "Facing Money Laundering Crimes and Combating the Financing of Terrorism" program.

According to the authority, the academy is working on launching a number of initiatives, including those related to establishing a system of continuing education, offering programs and initiatives for school students in the country, in addition to professional qualification programs and diplomas in the field of financial crime sciences.

New programs

The Insurance Authority revealed that cooperation agreements have been signed with the British Chartered Insurance Institute, to offer new programs in insurance, including programs for leaders in insurance, in addition to preparing to sign a cooperation agreement with the Ministry of Education, regarding sending students from UAE citizens to the prestigious international universities and institutes, which Academic or professional certificates are granted in the field of insurance, and in cooperation with government and educational agencies, to provide the required financial facilities, and to direct students to join insurance, which is one of the important economic fields that is growing in the country.

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