Interview with John Kotran - Growth and Development in the Company and the Sector

ARTICLE

 

Asked about his opinion on the situation of the insurance sector in the Middle East, Mr. John Kotran, Manager of the MENA region at Active Re, noted that it is witnessing continuous development and growth due to a number of factors, especially that the insurance sector in this region is keeping pace with the global industry and trends. As for the company, Active Re are now growing in developed markets in Europe, North America and Asia.

 

 

 

How do you evaluate the development of the insurance sector in the MENA region in particular?

The (re)insurance industry in the MENA region has been continuously developing and evolving. This is mainly due to a number of factors, with one of the major ones being the economic growth in the region. The region has seen a number of new megaprojects and technological advancements with considerable insurance requirements. To meet the requirements, insurance companies in the region have been tailoring their offerings and collaborating with international players. Additionally, the introduction and adoption of artificial intelligence has allowed companies in the (re)insurance industry to meet the demand efficiently in order to grow in the market. Moreover, the regulatory framework in MENA countries is constantly evolving to allow for an accommodating environment for (re)insurance companies to develop and grow. In the region has also witnessed an increased awareness of insurance products and services, resulting in an expanding market. At Active Re, we are dedicated to supporting our partners and clients by bridging capacity gaps, not only in the MENA region but globally.

 

Do you think that the MENA region insurance sector is keeping pace with the most prominent developments in the industry, especially on the levels of artificial intelligence and innovation?

The MENA region insurance sector is certainly keeping pace with the global industry and trends, for example, there has been an increased focus on sustainability and ESG consideration in the offerings. (Re)insurance companies have been adopting digital platforms to reach a wider market, enhance their risk management and increase efficiency by reducing processing time. Additionally, artificial intelligence is starting to play a role in this industry and enhancing processes like underwriting, claims handling, and customer service. At Active Re, we are committed to evolving alongside these advancements, staying current with the latest industry trends and innovations.

What about your company latest activities and news?

We, at Active Re are now growing in developed markets in Europe, North America and Asia. We are also steadily continuing our growth in the MENA region and Latin America. In terms of the MENA region, we look forward to increasing the support and attracting more cedents by increasing our risk capital and expand in new lines of business and products.

What is the importance of insurance conferences in general and DWIC in particular to the insurance industry?

Insurance conferences are a key platform for members of the (re)insurance industry to network, build connections, collaborate and share industry related knowledge. It is a great opportunity for attendees to gain and share insight into industry trends and developments. It is also a chance to share any regulatory updates to ensure the industry members are up to date. Conferences offer an excellent avenue for companies to strengthen their image and presence in the market.
The DWIC is of particular interest and importance as it is very well attended by companies in the region and globally.

Do you participate usually in conferences and which ones?

At Active Re, we have a global team which enables us to attend conferences all over the world. We are always looking forward to interacting with our partners and clients at these conferences.

 

This article was initially released in Al Morakeb with the title, "Al Morakeb."