Articles

Dubai, UAE: SHMA Consulting, one of the leading financial consultancies of the region, is proud to be the Platinum Sponsor of the Arab Actuarial Conference 2023, being held at the Four Seasons Nile Plaza Hotel in Cairo, Egypt, from 9th – 11th May, 2023. The Arab Actuarial Conference will focus on the risks and challenges

IFRS 17 is an International Financial Reporting Standard (IFRS) issued by the International Accounting Standards Board (IASB). It replaces IFRS 4, which was the previous standard for insurance contracts that was in effect since 2004. The purpose of IFRS 17 is to create a more consistent and comparable accounting treatment of insurance contracts across companies,

The actuarial profession is often compared to a team sport, with the members of a team working together to achieve success. This analogy can be seen in the leadership of SHMA Consulting, where many professionals have come together to form a “dream team” of actuarial expertise.   Mr Ali Omer Golam Morshed is the coach,

The actuarial world has been undergoing a rapid transformation over the last few years. This is due in large part to the rise of artificial intelligence (AI) and digitization within the industry, which are two critical factors that have helped to revolutionize actuarial work life.   The first area of change comes in the form

Transformation of an organization comes with many hurdles and obstacles. But a team that is dedicated to the growth and building a responsible community can overcome them. SHMA Consulting is one of those organizations that works tirelessly to improve, innovate and inspire the team members. The recent expansion is a result of those efforts by

We all know that the best days at work are the ones where we get to do what we love, but for a lot of employees, it can be hard to make time for that.   That’s why a special retreat was organized for the employees at SHMA Consulting! Not only do they get to

The overall GDP growth rate is anticipated to expand by more than 6% this year after growing by 3.8% in 2021, supported by a pickup in tourism, building activity, and business connected with Expo 2020 Dubai, according to the International Monetary Fund. With rising worldwide trends, inflation is predicted to average just over 5% this

The general perception of insurance companies is that they are organizations created to prevent or lessen the negative effects of unanticipated calamities. Insurance firms do in fact underwrite risk outcomes. It is generally expected that a person, regardless of status, caliber, education level, and class, will at some point in time come across hostile situations

I. Introduction Overview of the insurance industry The insurance industry is facing a number of challenges due to the ever-changing landscape of the global economy. One of the most significant trends affecting the insurance industry is the rise of technology and the increasing demand for digital services. Technology has enabled insurers to offer more tailored

Object detection is a computer technology related to computer vision and image processing that deals with detecting instances of semantic objects of a certain class such as humans, buildings, or cars in digital images and videos. Each year over 20,000 workers are injured in road construction work zones. 35% of those injuries are due to

As the speed of business increases, critical insurance tasks and processes will need to keep pace. Automation technology is the key to keeping up with demand and establishing a profitable response. The worldwide market for technology that enables hyper-automation will reach $596.6 billion in 2022.

The stakes have never been higher when it comes to data integrity and fraud protection, especially in the insurance sector. One of the biggest insurance businesses, CNA Financial, experienced a cyber-attack in March 2021. They ultimately had to pay $40 million to retake ownership of their network. The sort of data that is being transferred