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Qatar Tribune
12-05-2025
- Business
- Qatar Tribune
Qatar solidifies position as regional fintech and insurtech leader with successful summits
Tribune News Network Doha The fourth edition of the MENA Insurtech Summit and the inaugural MENA Fintech Summit 2025, hosted by Qatar Insurance Group (QIC Group), concluded today in Doha with resounding success, cementing their position as the region's premier platforms for innovation, collaboration, and thought leadership in insurance and financial technology. These landmark events reflected a bold and unifying mission: to bridge vision with execution, policy with innovation, and local entrepreneurship with global opportunity. Together, they showcased the Middle East and North Africa's growing capacity to lead global conversations and deliver real-world solutions in the evolving worlds of insurance and finance. Over two action-packed days, the summits welcomed a diverse international audience of innovators, investors, corporate leaders, regulators, and media representatives. This year's expanded agenda offered a comprehensive view of the future of finance and risk management, exploring cutting-edge technologies, shifting consumer behavior, regulatory transformation, and the role of innovation in sustainable development. Leadership Reflections: A Collective Vision for a Digitally Empowered Future As the curtains closed on the summits, the leadership of QIC Group reflected on the magnitude of progress and collaboration on display. Sheikh Hamad bin Faisal Al Thani, Chairman of QIC Group, remarked: 'These two days have been a powerful affirmation of our region's immense potential to lead in digital innovation. The future of insurance and finance is being shaped right here in Doha by brilliant minds, bold ideas, and a shared commitment to progress. As we gather the brightest global talents and innovators, we also reaffirm Qatar's position as a regional engine for transformation and excellence.' Salem Khalaf Al Mannai, Group CEO of QIC Group, added: 'At QIC, we believe that innovation is not a luxury, but an imperative. These summits are part of our long-term strategy to realize that and to make Qatar a regional hub for insurtech and fintech excellence. The energy, creativity, and ambition we witnessed over the past two days have been nothing short of inspiring. We are proud to stand at the intersection of tradition and transformation, building bridges between startups and regulators, talent and opportunity, vision and execution.' Diverse Dialogues, Global Perspectives One of the summit's most talked-about sessions, 'From Merchants to Mobile Agents: The Rise of Alternative Insurance Distribution,' explored how consumer expectations and technological advancements are reshaping the distribution of insurance across digital platforms, retailers, telecoms, and gig economy workers. Global case studies from Africa and Asia provided compelling blueprints for how MENA markets can leapfrog traditional models and improve insurance accessibility for millions. A Showcase of Innovation and Local Talent Another standout session was Demo Day, where five trailblazing startups: MIC Global, StarUp, Jaguar Transit, Otonomi, and Digital Petroleum, pitched their transformative solutions to a panel of regional investors. These companies were selected as part of accelerator programs led by QIC Digital Venture Partners (QIC DVP) in collaboration with the Qatar Financial Centre (QFC) and the Ministry of Communications and Information Technology (MCIT), reaffirming Qatar's commitment to nurturing a thriving insurtech and fintech ecosystem. The summit also hosted a Startup Workshop that gave rising entrepreneurs direct exposure to the local innovation landscape, incubation programs, and new market-entry opportunities. Another high-profile session focused on the Qatar Financial Centre (QFC)'s Digital Asset Lab, which showcased Qatar's ambition to become a pioneer in digital asset regulation and innovation. Attendees learned how QFC is providing a sandbox environment that welcomes startups experimenting with blockchain, tokenization, and decentralized finance (DeFi), while ensuring robust compliance and investor protection. The session emphasized the balance between fostering innovation and safeguarding financial integrity, a critical differentiator in today's rapidly evolving global financial landscape. Complementing this was a dynamic session led by Qatar Development Bank (QDB), which highlighted the strategic role of its Fintech Hub in driving the next wave of entrepreneurial growth. QDB's representatives outlined how its comprehensive support model, including equity financing, grants, mentorship, and market access, has enabled startups to scale their solutions both locally and internationally. The session made a compelling case for the role of state-backed capital and structured ecosystems in catalyzing innovation and creating commercially viable, impact-driven fintech ventures. Innovation for Climate Resilience and Sustainable Development The summits featured a wide array of forward-thinking sessions that brought together private sector leaders, policymakers, and innovators to explore some of the most urgent and transformative trends in financial and insurance technology. One particularly impactful session, 'Protecting Farmers, Powering Growth: The Role of InsurTech in Agriculture Insurance,' addressed the persistent global challenge of protecting smallholder farmers against climate risks, natural disasters, and market volatility. Experts discussed how mobile-based microinsurance, satellite data, and blockchain-powered smart contracts are driving a paradigm shift in how coverage is delivered and claims are settled. The session also explored how public-private partnerships, including development banks, agribusinesses, and telecom providers, can scale these innovations to reach underserved rural communities across the MENA region. Real-world examples from Africa, India, and Latin America offered compelling lessons in designing accessible, affordable, and fast-acting agri-insurance programs. QIC Job Fair Champions Qatari Youth As part of its broader commitment to national development, QIC Group organized a dedicated Job Fair on the sidelines of the summit, an initiative that underscored its unwavering support for Qatar National Vision 2030. The fair provided internship and employment opportunities for young Qatari professionals and students, creating a direct link between the country's next generation of talent and the rapidly evolving financial and insurance technology sectors. With participation from QIC Group's business units and industry partners, the initiative aimed to equip local talent with the skills, exposure, and experience required to thrive in a future-ready economy. The fair also served as a platform to foster mentorship, knowledge transfer, and career guidance, reaffirming QIC's leadership in championing national human capital development through tangible, impact-driven initiatives. A Platform for Lasting Impact Held under the auspices of Qatar Central Bank, the summits were supported by the leadership of H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of Qatar Central Bank, and attended by H.E. Sheikh Mohammed bin Hamad bin Qassim Al Thani, Vice Governor. Their involvement further amplified the national significance of these events. Strategic partnerships also played a vital role in shaping the summits' impact. The Ministry of Communications and Information Technology (MCIT) joined as the lead strategic partner for both events, while Commercial Bank of Qatar and Ooredoo Fintech served as strategic partners of the MENA Fintech Summit. These collaborations elevated the stature of the summits and underscored a unified national commitment to digital transformation and innovation-driven growth. With enthusiastic participation from venture capital firms, accelerators, and regional innovation hubs, the MENA Insurtech & Fintech Summits 2025 concluded on an optimistic, forward-looking note. They set the stage for deeper partnerships, sustained investment, and game-changing initiatives in the months and years ahead.
Qatar Tribune
07-05-2025
- Business
- Qatar Tribune
QIC Group launches twin MENA Insurtech and Fintech summits
Tribune News Network Doha Qatar Insurance Group announced the launch of the 4th MENA Insurtech Summit and the inaugural MENA Fintech Summit, both of which will be held concurrently under one unified platform on May 11–12, 2025 at the Qatar National Convention Centre (QNCC). Sheikh Hamad bin Faisal Al Thani, Chairman of QIC Group, commented: 'At QIC Group, we recognize that innovation and digital transformation are vital to securing Qatar's economic future. These summits reflect our commitment to advancing national strategies by creating meaningful platforms that connect talent, technology, and investment. By hosting both insurtech and fintech ecosystems under one roof, we aim to reinforce Qatar's position as a leader in digital financial innovation for the region.' Following the Chairman's remarks, Salem Al Mannai, CEO of QIC Group, added: 'We are proud to lead this initiative as part of our commitment to national priorities and our ambition to position Qatar as a destination for innovation and capital. These summits are more than just events—they are strategic platforms designed to attract global players, empower startups, and connect decision-makers across the financial services value chain. By bringing the fintech and insurtech ecosystems together under one roof, we are unlocking powerful opportunities for dialogue, investment, and cross-sector collaboration that will serve Qatar and the region for years to come.' The co-located summits represent a significant step in QIC Group's vision to position Qatar as a regional hub for digital transformation. Aligned with Qatar National Vision 2030 and the Qatar Central Bank's National Fintech Strategy, the dual event aims to accelerate cross-sector innovation, foster a robust digital ecosystem, and drive long-term economic diversification. Over 1,500 participants are expected to attend, including global thought leaders, regulators, startup founders, venture capitalists, and C-level executives from the insurance and tech sectors. The summits will feature dedicated programming tracks for insurtech and fintech, with opportunities for convergence through joint sessions on emerging technologies and future trends. The MENA Insurtech Summit will explore the theme: 'The Impact of AI on the Insurance Value Chain,' offering deep insights into how artificial intelligence is reshaping underwriting, claims, distribution, and customer engagement. Meanwhile, the MENA Fintech Summit will convene financial innovators and disruptors to explore the future of digital finance, focusing on emerging products, AI-powered solutions, and digital transformation in banking and financial services. The event will feature keynote speeches from senior officials and global experts, along with interactive panels and hands-on workshops exploring topics such as artificial intelligence in finance and insurance, embedded insurance models, open banking frameworks and regulatory shifts, data governance and cybersecurity, and cross-border fintech innovation and startup funding. Attendees can also look forward to a curated Demo Day showcasing startups from the 2025 MENA Insurtech Accelerator, as well as immersive Innovation Zones that spotlight cutting-edge solutions from both local and international startups. Strategic partnerships further amplify the summit's national relevance. The Ministry of Communications and Information Technology (MCIT) joins as the lead strategic partner for both summits, while Commercial Bank of Qatar and Ooredoo Fintech serve as strategic partners of the MENA Fintech Summit—highlighting a unified public-private commitment to advancing Qatar's digital future. Continuing his remarks, Al Mannai added: 'Innovation has always been at the core of QIC's business. These summits are a natural extension of that vision—bringing together government, enterprise, and entrepreneurs to build the infrastructure, talent, and trust needed for a vibrant digital economy. We see these platforms as catalysts that will strengthen Qatar's position as a regional leader in fintech and insurtech innovation.' As the founding and organizing entity, QIC Group reaffirms its role as a national enabler of innovation, ecosystem connector, and strategic contributor to the future of financial services across MENA.
Zawya
05-02-2025
- Business
- Zawya
Qatar: QIC Group reports 19% rise in net profit
Doha, Qatar: Qatar Insurance Company ('QIC Group', 'QIC'), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported net profit of QR735m in 2024, a rise of 19% from QR615m in the previous year. Following a meeting of the Board of Directors, which was presided over by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, Chairman of QIC Group, the board approved the financial results. Commenting on QIC's financial performance, Sheikh Hamad bin Faisal Al Thani, Chairman of QIC Group, stated:'The year 2024 marked the landmark 60th anniversary for QIC, and the Group is poised to enter its seventh decade in robust health. Having demonstrated its resilience, QIC has consolidated and further built upon this progress over the past twelve months with excellent results which underlines the success of the Group's commitment to its longer-term strategy: focusing on growth in profitable national and regional markets, while reducing exposure to international volatility by exiting loss making businesses. QIC continues to maintain its dominant position in the Middle East and North Africa region, as the largest insurance group, in terms of both total assets and total equity.' Sheikh Hamad added: 'With focus on bottom line driven growth, over the past years QIC had been able to optimize and stabilise its underwriting portfolio with a balanced and well diversified lines of business across the regional and international markets'. Salem Khalaf Al Mannai, Group Chief Executive Officer stated,'The company has now delivered consistent and stable bottom-line driven growth for the past several quarters, supplemented by a focus onprocess efficiencies and automation which has bolstered its already outstandingoperational efficiency.' © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
