ENTRY RULES AND CRITERIA

When entering the 2016 Awards, please read through the following criteria for your chosen category(ies), which explains what the judging panel will be looking for when they judge the entries and select the winners.

Please note that the judging period is from 1 November 2014 to 31 October 2015.

CRITERIA:

Bahrain insurer; Jordan insurer; KSA Insurer; North Africa Insurer; Oman insurer; Qatar Insurer; UAE insurer
The judges will bestow these awards on the insurer who has achieved a leading position in its respective country. The insurer will have established a strong business model with a wide-reaching network. A great marketing strategy and top quality product offerings will also set this insurer apart from its competitors.

Key criteria include:
  • Demonstrated sustainable growth
  • Market share
  • Range of products
  • Corporate governance/leadership
  • Innovation
  • Sound business model

Commercial lines insurer; Financial lines insurer; Personal lines insurer; Speciality lines insurer
The judges will award the insurer in each category who has demonstrated particular expertise within those lines. Careful underwriting, solid results and a capable team will set the winner apart from the rest.

Key criteria include:
  • Technical expertise
  • Sound underwriting
  • High-quality product offerings
  • Business strategy
  • Setting professional standards
  • Leadership

Commercial lines broker; Personal lines broker; Reinsurance broker; Specialty lines broker
The judges will reward the broker in each category who has shown the best business strategy and maintained a strong client base over the past year.

Key criteria include:
  • Quality of advice given to clients
  • Diversity of product offerings
  • Innovation
  • Setting professional standards
  • Sound business strategy

Corporate Risk Manager *
The Risk Manager of the year will be an individual who has been instrumental in campaigning best ERM practices in the Mena region. The winner will have implemented a successful risk management strategy at their company.

Global reinsurer
This award goes to the reinsurer who has demonstrated strong capitalisation, technical underwriting and stable returns, while bringing expertise and knowledge to the region to help the Mena insurance industry take the next step forward.

Key criteria include:
  • Sound business model
  • Strong management team and strategy
  • Robust and prudent underwriting
  • Demonstrated sustainable growth
  • A dedicated and specific focus on the Mena region
  • Sharing expertise and knowledge to help improve the local insurance market
  • Setting professional standards

Health insurer; Employee benefits insurer
The judges will award the insurer who really stands out from the rest, particularly in this highly competitive line of business. The winner will have displayed good relationships with a wide network of healthcare centres and innovative market experience.

Key criteria include:
  • Market knowledge
  • Demonstrated sustainable growth
  • Quality of product offering
  • Robust underwriting
  • Expertise of team
  • Innovation
  • Helping to grow and improve the overall Mena health insurance market

Insurance law firm
This award will go to the law firm that is dedicated to providing sound legal advice to the insurance industry. As well as providing a dedicated service to the market, the winner will display range and expertise in handling insurance related cases.

Key criteria include:
  • In-depth knowledge of the insurance industry
  • Expertise in insurance legislation
  • Brand and reputation
  • Understanding of and involvement in developing insurance legislation

Insurer
This category recognise the insurer who has set the standard for others to follow over the past year. The judges will be looking for a company that has shown sustainable growth, innovation and robust industry knowledge. Although scale is a consideration, it is the company’s development which will set it apart from the rest.

Key criteria include:
  • Technical expertise
  • Strong underwriting
  • Financial strength/capitalisation
  • Setting professional standards
  • Innovative product offerings
  • Responsiveness to clients and their needs

Life insurer
Currently underdeveloped in the Mena region, life insurance is seen as a great potential to increase insurance penetration in the region. The judges will award the insurer who has displayed innovation and a dedication to grow this important segment of the insurance market.

Key criteria include:
  • Market knowledge
  • Demonstrated sustainable growth
  • Quality of product offering
  • Robust underwriting
  • Expertise of team
  • Innovation
  • Helping to grow and improve the overall Mena life insurance market

Mena reinsurer
This award celebrates the local reinsurer who has demonstrated sound industry knowledge, strong capitalisation and technical underwriting, and sustainable business growth.

Key criteria include:
  • Sound business model
  • Strong management team and strategy
  • Robust and prudent underwriting
  • Demonstrated sustainable growth
  • Sharing expertise and knowledge to help improve the local insurance market
  • Setting professional standards

Most innovative broker; Most innovative insurer; Most innovative reinsurer; Most innovative service provider
This award will be presented to the company who has broken the mould in the Mena insurance industry by launching new, original and valuable product(s) and/or service(s) to more effectively meet clients’ requirements. This award also recognises those players who are growing in their local markets by exploiting socio-demographic and technological trends, while also successfully expanding into new markets.
 
Key criteria include:
  • Impact on the insurance market and/or line of business
  • Meeting client demands
  • Setting standards for the industry
  • Creativity

Newcomer
The prize of Newcomer of the year will go to the company which has had the biggest impact on the market since its recent launch. Scale will be considered but this award is really about innovation and potential for growth.

Key criteria include:
  • Innovation and entrepreneurialism
  • Sound business strategy
  • Demonstrated growth

New market trailblazer
This award recognises the outstanding insurance player who has successfully entered and established a major presence in a pioneer insurance market(s). The winner will not only have made the biggest impact in the pioneer market since its launch, but also be playing an active role in developing the sector’s growth. Finally, the winner will have exhibited a high degree of innovation and enterprise in product development, service delivery or process improvement in the pioneer market.

Key criteria include:
  • Innovation
  • Bold leadership and sound business strategy
  • Built relationships with the key strategic players in a pioneer market
  • Aiming to set professional standards in the new market

Outstanding contribution – individual *
The award will be presented to an individual who has made an outstanding contribution to the growth and development of the industry in the MENA region.

Rising star - individual
The prize for Rising Star will go to the individual who has demonstrated the commitment, passion and drive to become one of the industry’s key movers and shakers in the future. This award can go to an individual in any company, however well established, as long as the person involved is still in the process of forging their career.

Key criteria include:
  • Entrepreneurialism
  • Innovation
  • Business strategy
  • Helping to grow and improve the overall Mena insurance market

CEO of the year *
This award be presented to the company leader who has shown exceptional leadership and helped develop their company’s strategy, market share and results within the judging period

Speciality reinsurer
This award will go to the reinsurance team that has demonstrated outstanding achievements and performance in a speciality line(s). A skilled team, leading market presence and excellent financial results will set the winner apart from the rest.

Key criteria include:
  • High-quality product offerings
  • Sound knowledge and expertise
  • Understanding and meeting clients’ needs
  • Sound business strategy
  • Demonstrated sustainable growth

SME insurer
The judges will be looking for the insurer that is dedicated to providing the best insurance solutions for SMEs. The winner will offer products suiting the SME’s needs and will also help increase risk and insurance awareness amongst this important part of the economy.

Key criteria include:
  • Tailor-made products for the SME sector
  • Innovation
  • Working to increase risk and insurance awareness among SMEs
  • Responsiveness to clients and their needs

Takaful insurer
The judges will be looking for a takaful company with a strong focus on Shariah compliance, sound technical underwriting and stable returns.

Key criteria include:
  • Sound business model
  • Robust and prudent underwriting
  • Technical expertise
  • Demonstrated sustainable growth
  • Shariah compliance and Shariah governance
  • A focus on the needs of the population seeking Shariah-compliant products

Takaful reinsurer
This award goes to the retakaful company that has demonstrated strong capitalisation, technical underwriting and stable returns, with a focus on Shariah compliance.

Key criteria include:
  • Sound business model
  • Strong management team and strategy
  • Robust and prudent underwriting
  • Demonstrated sustainable growth
  • Setting professional standards
  • Shariah compliance and Shariah governance

Technology firm
The Technology firm of the year award recognises the service provider that has made the biggest impact on the industry through their technological innovation and product offering. Judges will assess product innovation alongside proactive efforts to educate the market in the technology field.

Key criteria include:
  • Innovation
  • High-quality product offering
  • Meeting industry and client demands
  • Ease of use

Third party administrator
This award will go to the provider that is judged to have the most efficient and effective operation in place in the Mena region. The winner will be the leading provider in the market, with a skilled team and using robust systems and processes.

Key criteria include:
  • Efficiency and effectiveness
  • Expertise of team
  • Robust systems and processes
  • Understanding and meeting clients’ needs
  • Innovation in services
  • Demonstrated sustainable growth and sound business strategy

Audit services provider; Claims management services provider, Risk consultancy provider
The award will go to the provider that has shown the highest levels of service to the regional (re)insurance space. The winner will be the provider that has shown it can differentiate itself from their peers/

Key criteria include:
  • Expertise of team
  • Understanding of clients’ needs
  • Innovation in services
  • Sustainable growth and business strategy
  • High business standards

* These categories are open to the public vote. If you would like to nominate someone for either or both categories, please complete the official online entry form.