QIC Group – Insurer Transformation Award 2023

1. Submission for Insurer Transformation Award 2023
1
Qatar Insurance Group
October 2023
QIC Digital Venture Partners enabling Growth of
MENA InsurTech Ecosystem

2. Holistic Approach
2
Age:
QIC was established in 1964.
Over 5 decades of continuous innovation,
digitization, and customer centricity
USP:
Biggest full stack insurer in middle east in
terms of assets (40% premiums in MENA
& 60% intnl.)
Capital:
QIC has a market capitalization of 2.3 Billion
USD making it the biggest insurer in the
region
Premium volume:
Volume in the GWP of domestic and
MENA operations amounts to an average
of USD 3.6 billion per annum
Success factors
“Excellence in
Insurtech” award in
2023
“Top Investment House"
in the Insurance category across Asia
and MENA regions in 2022
“Best Online Insurance
Company”
in the Middle East 2022
Latest awards
QIC is the biggest Insurer in the MENA Region
Leading investments manager company with a
diverse portfolio of approx. 7 bn US$ managing
assets for QIC Group and external parties.
Investments through FoF into +1000 tech
companies
One of the best performing Underwriting at Loyds
since 2008, specializes in global reinsurance,
exemplifying the global nature of the
group's operations.
Innovative Software focussed
InsurTech providing solutions to 18 incumbents
across 3 continents, endorsed by Swiss re world
leading insurance company
with cutting edge insurance software solutions t
o enhance their services cycle.

3. QIC Digital Venture Partners creates value for QIC by building, investing and
partnering with global and regional InsurTechs, Insurance Incumbants, Banks & digital
Powerhouses
3
Founded in April 2022
Venture Builder (BUILD)
Incubate and build new ventures internally
allowing for maximum flexibility to react
to market needs,
expedite responses, and reduce risks
Idea
validation,
prioritization
and
initiation
Strategic Early Stage
CVC (INVEST)
(invest via minorities or majorities
in external startups)
Digital
Value
Creation
Partnerships (PARTNER)
(partner with internal or external partners)
co-founded the MENA InsurTech Association
connecting and thriving insurtech ecosystem players
New Digital Business Models

4. 4
QIC Holds a Pivotal Position in the MENA Digital Insurance & InsurTech
Ecosystem
Leading MENA Insurer with Exceptional Digital Sales Performance
Strategic Investments in Global and Regional Insurtech
Ventures
Influence that Extends Beyond Customers, Cultivating Positive Change Across the
Entire Industry
Stay Tuned for Another Exciting
Announcement!
500 startups
325 startups
200startups
120 startups
60-50 startups
Deal flow from our MENA Insurtech
Competition
Assess the digital user journey of four car insurance
websites in the MENA region and conduct a comparative
analysis with car insurance websites in the US, UK, and
Australia
Comparative analysis by
Customer and Industry Impact

5. 5
In 2022, we embarked on a journey to address six growth constraints within
both QIC and the broader InsurTech ecosystem connecting ecosystem players
in MENA
Investment Capital
We are creating and facilitating
deal flow
Talent Pool
We are developing the talents
in the industry
Market Size & Scale
We are bridging MENA regulators to
encourage scaling among
Regulators
Harmonize approach for Digital
Insurance Models
Fronting Insurer
Encouraging Insurers to Front
(& test)
(Re) Insurance partner
MENA Re-Insurance dominated by
Global players
Commitment to change over time - 2022

6. 6
This resulted in the establishment of the MENA Insurtech Association providing
Thought Leadership
• Competition: (Identify and qualify Insurtech)
• Demo days: (to scout insurtech)
• Delegates: Speakers and panelists in big
insurance/InsurTech conferences
• Jury: InsurTech & start up competitions
• Affiliate with regional startup
conference partners i.e. GITEX,
web summit
• InsurTech specific program within
the big conference context
• Conference partners Barter for
exhibition space and MENA
InsurTech delegates in big Intl.
conferences i.e. ITC insurtech
insights
• Summit: (to provide solutions for
incumbents and incestors)
• Hackathons: (to solve insurance
challenges with InsurTech)
• Food for thought: Webinars and podcasts
filled with information from top industry
practitioners
Commitment to change over time - 2022

7. 7
The Association is actively supporting the digital Insurance growth by organizing 8
regional InsurTech competitions and hosting the largest (2nd) MENA InsurTech
Summit
Results
323
Applications
41 32 5
Countries Finalists Winners
1500
Participant
88 28 2 8.7
3
C-level
speakers
Topics Tracks NPS
Accelerations
Tangible ROI - 2023
3
Investment in
3 months
Results

8. 8
Using the InsurTech Summit as a platform, we are contributing to the MENA
wide development of ESG and Co-Creation opportunities
In 2023, we emphasized ESG initiatives by regional insurers and
recognized their achievements through awards
Inaugurating 'The Digital Innovation Co-creation Workshop' in
2023 resulted in valuable co-creation opportunities
Awarded
Insurers
Co-creations
enabled
Industry Impact

9. 9
Build on the experiences in 2022 and 2023, we target for more growth in 2024 for
InsurTech Competition and InsurTech Summit under the Theme: AI impact on
Insurance business models
We are hosting five competitions and organizing two
roadshows in collaboration with global giants
For the 3rd consecutive year we are organizing
MENA InsurTech Summit 2024 Spotlight on AI Integration
Across the Value Chain
Commitment to change over time - 2024

10. Commitment to change over
time
Holistic, programmatic
approach and New Digital
Business Models
10
Customer and Industry
impact
Tangible business
results / ROI
323
Applications
41 32 5
Countries Finalists Winners
2 8.7 3 3
Tracks NPS Investment
in 3 months
Accelerations
Summary
Vision, Mission, Strategic Execution over a longer period with measurable
international Impact: