Zurich Middle East has announced the launch of series of new support initiatives designed to helpe financial advisers and intermediaries in the United Arab Emirates deal with upcoming regulatory changes to the country’s life insurance industry.
Zurich FutureReady, set be rolled out in September, is designed to support financial intermediaries and distributors as they prepare for, and implement, the changes required under the UAE Insurance Authority’s new proposed framework.
Zurich said in a statement announcing the launch that it hopes that it will act as a bridge between the current and future advisory business model.
As reported, the UAE Insurance Authority is introducing a series of ‘game-changing’ regulatory changes that see indemnity commission banned fees and charges on industry products limited and stricter rules relating to financial advisers introduced.
Through a series of targeted initiatives and educational activities, the programme will help Zurich – Middle East’s distribution partners future-proof their business model and establish the key building blocks for a successful advice- and service-driven business in a maturing market environment, Zurich said.
Colum O’Brien, Zurich Middle East head of retail, said: “Zurich FutureReady is a programme that we have devised to help business owners and advisers 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.”
Programmes will range from third-party training and workshops to events, asset management insight and digital tools and content, all of which will, Zurich says, “offer practical advice aimed at triggering the change process necessary to succeed in an evolving landscape”.