QIC takes part in InsurTech Connect event
Doha: InsurTech Connect (ITC) 2022, the world’s largest insurtech event took place in Las Vegas, USA, with over 9,000 attendees from over a hundred countries with 70 percent at VP level or higher. The three-day event brought together insurance and technology industry leaders, insurtech startups and investors for an opportunity to facilitate discussion and showcase the latest industry innovations.
Notably, Qatar Insurance Group was the only presenter at the event from the MENA region, cementing its position as a big player not only regionally but on the international stage. Placing it in the best position to boost the insurtech ecosystem and to become the go-to digital insurance partner for MENA through its QIC DVP and to define the new digital insurance execution standards through QIC’s Anoud Tech.
Moreover, among the many highlights was the participation of four of the top startups that participated in QIC’s InsurTech MENA Hackathon. Namely, ‘Avey, Today, Demogrance and Ameenleek’.
ITC 2022 offered the start-ups a valuable opportunity to present their ideas before an international audience, to connect with industry experts and insurtech focused VC funds.
“We are proud to be able to leverage our leadership in the insurance space and act as a gateway that facilitates the participation of regional innovation in industry events at a global scale. Given our position as the leading insurer in Qatar and the MENA region, we see thought leadership not as an aspiration but a mandate, one that is driven by a strong cooperative spirit that compels us to share expertise, offer unique guidance and encourage forward thinking,” said Salem Khalaf Al Mannai, Group Chief Executive Officer at QIC commenting on the event.
Additionally, QIC participated in a panel discussion titled “Becoming a Connected Insurer”. The overarching themes were that data driven propositions lead to better interactions with clients and can potentially reduce risk/claims for both parties.
The second theme was around distribution, where API platforms empower insurance brokers to bundle needs and better connect with different insurance providers.
Al Mannai continued, “QIC is proud to present at an event of this scale. As far as digitising insurance, it is evident that a momentum is brewing globally, and that QIC is the driver of that momentum regionally through our Digital Venture Partner Unit (QIC DVP)”.
It’s worth mentioning that last April, as part of its digital strategy QIC Group, announced the creation of Digital Venture Partners (QIC DVP) – a business unit that is quickly becoming the ecosystem orchestrator for InsurTech and the go-to-digital insurance partner in the MENA region.
In June this year, QIC together with Deloitte, Google Cloud and QIC Digital Venture Partner (QIC DVP) launched “InsurHack MENA”- the first InsurTech Hackathon in the region- with the goal of reshaping the digital insurance landscape by building new digital ventures and strategically investing in high potential early-stage startups. With the first start-up challenge being a soaring success, QIC is gearing up for the new start-up challenge cycle 2023 and the second edition of the InsurTech MENA Summit. Exciting details and partners will be revealed in the upcoming weeks.