INSURANCE ADVISORY SERVICES

Through an in-depth knowledge and understanding of the insurance coverage, local market, risk management issues, and intricacies involved through the same; and taking into consideration, the various types of risks each and every client is confronting, UIS would provide its clients with a wide range of diversified Insurance products and Insurance consultancy services to cover the following aspects.

1. Insurance Risk Assessment and Process

UIS role is to analyze the clients’ risks and needs through a close follow up on the information flow relating to the clients and to the market as well, to identify the industry new trends and to evaluate the risk exposures, in order to advise therefore the most suitability to the clients in line with their business necessities.

Briefly, UIS would identify and assess the client’s risks to minimize, monitor, and control the probability and/or impact of unfortunate event and/or to maximize the realization of opportunities.

2. Insurance Due Diligence Review and Analysis

UIS offers its clients a comprehensive review of their exposures and current insurance programs to minimize their costs and maximize the understanding of their current insurance covers through a detailed study of their current insurers, current coverages provided, policies’ gaps and overlaps.

3. Insurance Guidelines, Policies & Procedures

Producing the insurance guidelines, policies and procedures for our clients would set in place the insurance process and framework for the renewals, new placements and approvals.

4. Insurance & Reinsurance Placement (Conventional, Takaful)

UIS role is to outsource the suitable placement as per the clients’ orientation through high caliber insurance providers in the market.

Within the reinsurance scope, UIS delivers comprehensive reinsurance and retrocession treaty and facultative solutions through the best reinsurers in the region and within the international market.

5. Bid Management (Underwriting & Renewal Assistance)

UIS assists using competition to obtain the best price and coverage while analyzing the market situation through the tender pricing indicators.

UIS, as well, provides assistance in the selection of qualified insurers in addition to the examination of the proposals offered

6. Claims Analysis and Processing

UIS assists to assure an equitable loss settlement from the insurer, the clients get assistance navigating the process and faster resolution of claims to guarantee right process and fair settlement.

7. Insurance Compliance Management

With the rise of the money laundering in the insurance industry, UIS Role is to create the guidelines and precautions related to the same; as well as identifying, through a continuous auditing exercise, such activities and to highlight all the transactions suspected of being connected with money laundering and terrorist financing.

8. Banking Insurance Auditing

UIS examines and analyzes the banks’ insurance records to produce adequate reports pertaining to the risk exposure, premiums, loss ratio, surplus and suitable cover in line with the financial facilities provided to the banks’ clients, in order to maximize the bank’s protection guidelines.

9. Bancassurance Products customization

As Bancassurance has emerged as a formidable channel for insurance companies, and as Banks are considered to be one of the dominant players among the financial institutions have today transformed into a financial providers offering multi-type services, and as the interlinkages between the banking and insurance industries are increasing, and as the most visible sign between both industries is the merger of banks and insurance companies to form the Bancassurance business, and as Bancassurance has for long been looked upon by the banks as an additional source of fee income; UIS role would be to create Bancassurance programs to be offered to the banking sector’s clients through active sale or distribution points.