ANNUAL INSURANCE CONFERENCE 2021 – INDUSTRY WAY FORWARD IN KARACHI
Karachi, Pakistan: Badri Management Consultancy hosted its first insurance conference in Karachi on December 9th, 2021 at the Marriott Hotel. The event was themed “Industry Way Forward” and was attended by several renowned industry experts and professionals from all segments of the insurance practice.
The event was inaugurated by a Welcome Address delivered by BADRI’s Executive Director & Co-Founder, Mr. Ali Bhuriwala. The keynote was delivered by Mr. Nadeem Hussain, Coach at Planet N Group. He spoke about the need for the insurance industry to innovate especially in terms of customer journey and execution of claim payments.
BADRI’s actuaries, Omar Khan & Rais Kazmi spoke about Industry trends and IFRS-17 implementation related challenges. Other notable speakers included;
(1) Mr. Tahir Ahmed, Co-Founder & CEO at First Digital Takaful, who spoke about the need for Pure Digital Insurance.
(2) Mr Azfar Arshad, Chairman Insurance Association Pakistan, who spoke about “optimization” of reinsurance arrangements
(3) Mr. Khurram Ali Khan, CEO at Fidelity Insurance Brokers, who spoke about the age-old debate of “Technical Rate vs Underwriter Judgement”
The conference concluded with a panel discussion on “Pakistan & Regional Insurance Penetration”. The panel was moderated by Mr. Nasar Qureshi. The eminent panelists included Mr. Khalid Hamid, Mr. Mohammed Ali Ahmed, Mr. Ayaz Mahmood, Mr. Faisal Abbasi & Mufti Ibrahim Essa. The discussion was well-rounded ranging from the role of Takaful in enhancing insurance penetration to the need for alternate distribution channels alongside Banca & Direct Sales Force and the adoption of novel indicators of insurance penetration. Digitalization was the key theme of all discussions.
The event was attended by 200 participants from over 65 organizations across the insurance spectrum. In view of the overwhelming response, Badri Management Consultancy announced that they would make this an annual recurring event.