The fourth edition of the Arab Actuarial Conference commenced yesterday in Dubai, organized by the UAE insurance union in collaboration with the Arab Insurance Federation and the event management company “Minamoni,” which specializes in financial events.
This year’s conference, held under the theme “The World Through Actuarial Eyes,” addresses various topics centered around current and emerging risks faced by the financial and insurance sectors, focusing on their assessment and management. Particular attention in the sessions this year is directed toward artificial intelligence and data, as well as their impacts on the evolution of the insurance industry and new trends in health insurance across Arab markets.
The discussions will also cover the transformation towards risk-based capitalization of insurance companies, the role of actuaries in risk management, and the effects of generative artificial intelligence on actuarial work. Additionally, the influence of digitization, embedded insurance, and technology in reshaping the sector will be explored.
Fried Lotfi, the Secretary-General of the UAE Insurance Union, noted that the advent of artificial intelligence has transformed the approach actuaries historically took, which was fundamental to the insurance industry, leveraging mathematics and statistics to assess risks and set premiums to ensure financial profitability.