Zurich FutureReady will launch in September and act as a bridge between the current and future advisory business model, the company said.
First announced in November 2016, the UAE’s Insurance Authority will ban indemnity commissions, limit fees and charges of industry products and put in place tighter rules on financial advisers.
“The IA intends to put in place certain measures to raise the bar of regulation of life insurance and family takaful products in the UAE,” the regulator said in April, when the latest draft of the regulation was released.
Future proofing
Through a series of targeted initiatives and educational activities, the programme will help Zurich Middle East’s distribution partners future-proof their business model in a maturing market environment.
Programme initiatives will range from third-party training and workshops to exclusive events, asset management insight and digital tools and content, all of which will offer practical advice aimed at triggering the change process necessary to succeed in an evolving landscape.
Colum O’Brien, Zurich – Middle East head of retail, said: “Zurich FutureReady is a programme that we have devised to help business owners and advisors navigate the changes that are coming in the UAE market.
“In other markets, we have seen that those who have made and embraced the change have created value not only for themselves, for business owners, their staff and most importantly their customers.”
