Latest news with #InsuranceMarket
Khaleej Times
31-05-2025
- Business
- Khaleej Times
InsuranceMarket.ae appoints Hitesh Motwani as deputy chief executive officer
AFIA Insurance Brokerage Services LLC, the entity behind the UAE's most trusted insurance platform, has announced the appointment of Hitesh Motwani ACII to the additional role of deputy chief executive officer. Motwani, who continues in his approved capacity as operations manager, remains fully responsible for all regulatory and operational duties under that designation. His expanded title as deputy CEO reflects the depth of his leadership across operations, client servicing, marketing, and digital transformation at He has been with the company for over 11 years. Commenting on the announcement, Avinash Babur, chief executive officer of stated: "Leadership isn't about titles—it's about vision, ownership, and impact. Hitesh has consistently exemplified these qualities over the years. His appointment as deputy CEO is a recognition of his incredible journey with us and a commitment to strengthening our leadership bench as we continue building the future together." Motwani added: "It's been a privilege to grow with This new role is both a responsibility and an opportunity—to do more for our customers, our partners, and our team. Together, we are setting new benchmarks in how insurance is experienced and delivered in the region, and I'm excited for what lies ahead." The appointment reflects continued focus on nurturing talent from within, strengthening its succession planning, and ensuring leadership continuity as it scales both locally and regionally.
Khaleej Times
26-05-2025
- Business
- Khaleej Times
InsuranceMarket.ae receives Allianz Rising Star Award for breakthrough performance
the UAE's largest insurance platform, has been awarded the 'Rising Star 2024' title by Allianz Partners, recognising a year of exceptional growth, strategic alignment, and customer-centric execution. The accolade celebrates the 10x expansion of the shared book between the two partners in just one year — an achievement made more remarkable by the simultaneous uplift in service quality and value delivery. The recognition highlights a model of partnership that goes beyond distribution scale to embrace vision, speed, and sustainability. "Clarity, ambition and flawless execution—that's what fuels outcomes like this," said Avinash Babur, CEO of "We do not aim to work with everyone. We choose partners who share our long-term ethos. This award is a testament to what can be accomplished when collaboration is intentional and purpose-driven." Allianz Partners echoed the sentiment in their commendation. 'It was our absolute pleasure to recognize one of our key distribution partners in the UAE who are creating positive disruption in insurance broking," said Cheryl Beattie from the Allianz Partners team. "In 2024, they posted the highest growth levels across both individual and SME segments. Their name is in lights everywhere, with a dynamic and innovative approach that's clearly delivering results." The award comes as continues to deepen its investment in the future of insurance distribution. From seamless, digital-first customer journeys to the launch of its Global Benefits Practice focused on IPMI and led by Malcolm Wright, the company is setting new standards for what modern insurance broking can deliver. This recognition joins a growing list of accolades for including its Superbrands status, naming rights for the InsuranceMarket Metro Station, and over 25,000 five-star Google reviews, further cementing its leadership in the UAE insurance ecosystem.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
InsuranceMarket.ae appoints Hitesh Motwani as deputy CEO
AFIA Insurance Brokerage Services LLC, the entity behind the UAE's most trusted insurance platform, has announced the appointment of Hitesh Motwani ACII to the additional role of deputy CEO. Motwani, who continues in his approved capacity as operations manager, remains fully responsible for all regulatory and operational duties under that designation. His expanded title as deputy CEO reflects the depth of his leadership across operations, client servicing, marketing, and digital transformation at He has been with the company for over 11 years. Commenting on the announcement, Avinash Babur, CEO of stated: "Leadership isn't about titles — it's about vision, ownership, and impact. Hitesh has consistently exemplified these qualities over the years. His appointment as deputy CEO is a recognition of his incredible journey with us and a commitment to strengthening our leadership bench as we continue building the future together." Motwani added: "It's been a privilege to grow with This new role is both a responsibility and an opportunity — to do more for our customers, our partners, and our team. Together, we are setting new benchmarks in how insurance is experienced and delivered in the region, and I'm excited for what lies ahead." The appointment reflects continued focus on nurturing talent from within, strengthening its succession planning, and ensuring leadership continuity as it scales both locally and regionally.
Zawya
12-05-2025
- Business
- Zawya
InsuranceMarket.ae strengthens Emiratisation with key leadership hire
the UAE's leading insurance platform, is proud to announce the appointment of Mohammad Al Nabulsi to spearhead one of its most important national priorities: Emiratisation. At success has never been measured solely by business growth. The company firmly believes that building a great business and building a great nation must go hand in hand. Empowering UAE National talent is not just a strategic goal — it is a core responsibility. With this vision in mind, the appointment of Mohammad marks a major step forward in shaping a future where Emirati professionals thrive in the private sector. "Mohammad brings with him the energy, vision, and leadership we need to turn this ambition into reality," said Avinash Babur, Founder and CEO of "I have full faith in his ability to lead this journey and help us unlock the next level of sustainable growth, with purpose at the core." Mohammad Al Nabulsi joins the company with a wealth of industry experience and a passion for empowering people. His leadership is set to drive meaningful career opportunities for UAE Nationals, fostering a new generation of talent equipped to lead the country's dynamic future. 'I'm honored to join on this important mission. I believe Emiratis have immense potential to lead across industries, and I'm committed to creating real opportunities that empower them to thrive in the private sector,' said Mohammad Al Nabulsi. This appointment underscores long-standing commitment to Emiratisation and its broader philosophy of nation-building through business excellence. It also reflects the firm's belief in the transformative power of talent development, diversity, and inclusion. "At we don't just talk about progress — we invest in it. We believe in the power of people to drive meaningful change, and we are committed to playing a leading role in that journey," added Avinash. With a clear mission ahead, invites partners, collaborators, and the community to join hands in building a future of shared success.
Yahoo
12-03-2025
- Business
- Yahoo
Singapore $8.45 Bn General Insurance Market Trends, Competition, Forecast & Opportunities, 2030 - Growing Demand for Cyber, Travel, and Business Coverage
Singaporean General Insurance Market Dublin, March 12, 2025 (GLOBE NEWSWIRE) -- The "Singapore General Insurance Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" report has been added to Singapore General Insurance Market was valued at USD 6.21 Billion in 2024, and is expected to reach USD 8.45 Billion by 2030, rising at a CAGR of 5.33% This growth is driven by increasing healthcare costs, ongoing digital transformation, and evolving regulatory frameworks. Key market segments include motor, health, and property insurance, with a growing demand for cyber, travel, and business coverage. Insurers are capitalizing on technological advancements such as artificial intelligence (AI) and big data to enhance underwriting, streamline claims processing, and improve customer engagement. Regulatory changes, including more stringent capital requirements and sustainability initiatives, are shaping the competitive landscape. Additionally, InsurTech companies are intensifying market competition by offering innovative digital-first solutions. As consumer preferences shift towards personalized, seamless experiences, insurers are focusing on digital channels and customer-centric product offerings. Key Market DriversThe Singapore General Insurance Market is undergoing a substantial digital transformation, with insurers utilizing technology to increase operational efficiency, boost customer engagement, and diversify product offerings. The rise of InsurTech companies is fostering innovation in areas such as AI-powered underwriting, blockchain-based secure transactions, and big data analytics for risk assessment. Digital-first insurance platforms are enhancing accessibility by allowing consumers to easily compare policies, file claims, and receive payouts. Furthermore, embedded insurance solutions, which integrate policies into e-commerce or fintech platforms, are gaining momentum. To remain competitive, traditional insurers are collaborating with technology firms to adapt to this rapidly evolving digital Market ChallengesThe Singapore General Insurance Market is facing significant challenges due to market saturation across both the mass-market and niche insurance sectors. The entry of numerous new brands and products, coupled with increasingly diverse consumer preferences, has intensified competition among both local and international players. Major global insurance providers, such as Aon and MSIG, dominate the market, while smaller companies struggle to establish their niches. For new entrants, standing out in a crowded landscape is a challenge. The vast array of insurance options can overwhelm consumers, necessitating a strong differentiation strategy. As a result, insurers must innovate continuously to capture consumer attention, which often leads to price wars and heightened competition, particularly in the premium and niche insurance Market TrendsThe growing adoption of digital platforms is transforming the distribution, purchase, and management of insurance products. Embedded insurance - where insurance products are integrated into non-insurance transactions such as e-commerce, travel bookings, or ride-hailing apps - is gaining significant traction. Consumers are increasingly drawn to seamless, frictionless experiences, prompting insurers to partner with fintech companies, online retailers, and mobile applications to offer on-demand, microinsurance, and pay-as-you-use policies. Additionally, the integration of artificial intelligence (AI) and big data analytics enables more personalized policies and automated underwriting. AI-driven chatbots and customer service solutions are enhancing customer engagement, while blockchain technology is being explored for its potential in fraud prevention and claims processing. Insurers that embrace digital transformation will be well-positioned to capture market share among Singapore's tech-savvy Attributes: Report Attribute Details No. of Pages 81 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $6.21 Billion Forecasted Market Value (USD) by 2030 $8.45 Billion Compound Annual Growth Rate 5.3% Regions Covered Singapore Competitive Landscape Aon Singapore Pte Ltd MSIG Insurance (Singapore) Pte. Ltd. Swiss Life (Singapore) Pte Ltd Tokio Marine Life Insurance Singapore Ltd. AIA Singapore Private Limited The Great Eastern Life Assurance Company Limited Singapore Life Ltd. Chubb Insurance Singapore Limited Liberty Insurance Pte Ltd Allianz Insurance Singapore Pte. Ltd. Report ScopeBy Insurance Type: Motor Insurance Property Insurance Liability Insurance Accident & Health Insurance Other types By Provider: Insurance Companies Insurance Agents/Brokers Other providers By Region: Central North-East East West North Key Topics Covered: 1. Introduction2. Research Methodology3. Executive Summary4. Voice of Customer Analysis5. Singapore General Insurance Market Outlook6. Singapore Motor Insurance Market Outlook7. Singapore Property Insurance Market Outlook8. Singapore Liability Insurance Market Outlook9. Singapore Accident & Health Insurance Market Outlook10. Market Dynamics11. Market Trends & Developments12. SWOT Analysis13. Singapore Economic Profile14. Competitive Landscape15. Strategic Recommendations For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Singaporean General Insurance Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
