CRITERIA

Judging criteria

When entering the 2017 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. Entries will close on Thursday 24 November.

Please note that the judging period is from 1 November 2015 to 31 October 2016.


CRITERIA:



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


Broker categories:


Commercial 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


Personal 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


Reinsurance 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

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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


 Individual categories:


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.


Outstanding achievement by an 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 across their career.


Rising star 

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

 

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Insurer (country) categories:


Bahrain insurer, Jordan Insurer, KSA Insurer, North African 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


Insurer (innovation) category:

Most innovative insurer

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


 Insurer (lines) categories:

Commercial 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



Employee benefits provider
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


Financial 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


Health 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

Insurer - Overall

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


Personal 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


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


Specialty 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

Insurer (takaful) category:


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  


Reinsurer categories:

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


Specialty lines 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


Most innovative reinsurer

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


Takaful reinsurer

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 


Other categories:


Actuarial/risk consultancy services, Audit services provider, Claims management services provider

These awards will go to the providers that have shown the highest levels of service to the regional (re)insurance space. The winners will be the providers that have shown they can differentiate themsselves from their peers.

Key criteria include:

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

 


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



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


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

Banking services for insurance companies

Key criteria include:

  • Relationship with the insurance industry
  • Meeting insurance companies’ demands
  • Innovation in services

Investment services for insurance companies

Key criteria include:

  • Expertise of team
  • Understanding and meeting the industry’s requirements
  • Efficiency and effectiveness

Ratings agency

Key criteria include:

  • In-depth market and risk environment knowledge
  • Quality of service provided
  • Impact on the insurance and risk management culture
  • Setting standards for the industry


* 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.