Pandemic pushes insurance industry in a new direction ...United Arab Emirates

In 2019 the UAE had the highest insurance penetration and density in the GCC at 2.9 per cent. Just like every other industry, Covid-19 has affected the insurance sector too. However, there has been an important silver lining to the crisis for the life and health insurance segments, according to one of Dubai’s main players. “The pandemic has helped in creating more general awareness about the need for life insurance and health cover and an emergency fund,” says Pradeep Mishra, Resident Manager at LIC International.“Therefore, we will see degrowth in business from last year, but things already started improving from the fourth quarter of 2020.” Health insurance in the UAE is mandatory for emp

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