The Future of Insurtech (Insurance Technology) and its Impact on the Insurance Industry

Insurtech, a term coined for the intersection of insurance and technology, has been making waves in the insurance industry over the last few years. Insurtech refers to the use of technological innovations designed to make the current insurance model more efficient. Its influence on the industry has been enormous. The future of Insurtech appears bright

Social Responsibility and Sustainability in Insurance Industry

In today’s world, it’s more important than ever for companies to prioritize social responsibility and sustainability. Social responsibility is the idea that companies need to take responsibility for their actions and how their decisions affect their communities, environment, and other stakeholders. Whereas sustainability is the concept of developing and maintaining the ability of a company

Emerging Trends in Health Insurance

Health Insurance is a vital aspect of healthcare, as it allows people to access the medical attention they need without financial worries. Over the years, health insurance has evolved, with new trends emerging that are transforming the way providers deliver care to their customers. From the adoption of telemedicine to the rise of consumer-driven health

What should insurance companies do about climate risks?

According to a 2019 global poll, 72 percent of insurance businesses believe climate change would have an impact on their business, but 80 percent have not taken major actions to mitigate climate risks. Furthermore, insurance companies invest the money they collect in the financial markets. They have $582 billion invested in fossil fuels, which may

Climate Change and its Impact on Insurance Industry

Climate change affects living creatures across the world in many ways, including excessive rainfall, violent storms, drought, wildfire, and so on. The calamities, ups, and downs also have an influence on insurance firms internationally, since disasters are becoming more frequent and costlier, making the industry more vulnerable, even though opportunities abound. Furthermore, disasters are becoming

Rise of Self-Servicing of Policyholders

The year 2020, with its epidemic and lockdown, has changed the way people consume products and services. This has also had an impact on the insurance sector. Individuals and organizations across the world are aware of the need for insurance coverage in response to rising hazards, including those posed by Covid-19. Notably, this has led

Insurance Fraud and Its Prevention Measures

Insurance fraud is defined as a purposeful deceit committed against or by an insurance business or agent for financial gain. Fraudulent claims not only lead to higher premiums for everyone but also undermine the trust and integrity of the insurance industry. It is a widespread problem that affects both the insurance industry and consumers. Insurance

The Arab Actuarial Conference: A Platform for Knowledge Exchange and Professional Development

The Arab Actuarial Conference, a highly anticipated event in the actuarial world, took place recently. As the Platinum Sponsor, SHMA Consulting was proud to be a strong supporter of this prestigious global platform, which brought together industry experts, professionals, and enthusiasts from various sectors across the Middle East and North African countries. Actuaries, actuarial firms,

The Growth and Learning Curve at SHMA Consulting: A Pathway to Success

At SHMA Consulting, a strong emphasis is placed on professional growth and continuous learning. The company recognizes that the success of its employees is integral to the overall success of the organization. With a well-defined career progression framework and a commitment to supporting employees in achieving their professional goals, SHMA Consulting offers a clear growth

Empowering Women in the Workforce: Promoting Wellbeing and Maternity Support

The role of women in the workforce is of paramount importance in building a diverse and inclusive society. Recognizing the value of women’s contributions, organizations worldwide are increasingly prioritizing the well-being of their employees and implementing policies that support women’s needs, including maternity leaves and flexible work arrangements. SHMA Consulting is at the forefront of

Is AI taking my job? The Revolution of AI in the Actuarial World and the Irreplaceable Value of Human Intelligence

Artificial Intelligence (AI) has emerged as a transformative force across various industries, and the actuarial field is no exception. With advancements in machine learning algorithms and data analytics capabilities, AI has the potential to revolutionize actuarial processes and enhance decision-making. However, concerns about the displacement of human actuaries by AI are also being raised. In

The Data Revolution at SHMA Consulting by Professionals of the Field

At SHMA Consulting, we are excited to announce the launch of the DiiA program. DiiA stands for Data, Intelligence, Innovation, and Analytics, and is an initiative that aims to enhance the data analytics capacity of all staff members by developing the right tools, processes, and ecosystem. This will allow us to bring more efficiency, intelligence,