As the head of a major business brand, what are the main challenges you face and foresee in your sector?
In a dynamic and competitive environment, the challenges we face as an insurance brand in the UAE are multifaceted.
Adoption of technology
Technology is rapidly transforming various industries, including insurance. We must effectively adopt new technologies, embrace customer-centric digitalization, and move away from bureaucratic processes that hinder innovation. Prioritising agility, streamlining operations, and fostering continuous improvement is essential to meet our customers’ evolving needs.
Relevance to the UAE’s changing demographics
The UAE’s diverse and rapidly changing demographic landscape requires us to continuously adapt our offerings and communication strategies to align with the preferences of a youthful, multicultural population. Understanding market segments and tailoring our approach is key to resonating with varied demographics.
Integration into the economic fabric of the nation
Insurance is a key player in a mature economy for prosperity and resilience, but we still need to better integrate it into the UAE’s economic fabric. This involves aligning strategies with national priorities, supporting economic diversification, and building strong relationships with government entities, industry peers, and the community.
Embracing UAE’s ambition for the insurance industry
The UAE leadership has set ambitious goals to elevate the country’s performance. We must embrace this ambition by adopting best practices, enhancing services, and innovating to meet international standards, contributing to the UAE’s vision of becoming a global insurance hub.
Developing local talent
A critical challenge is developing a highly skilled workforce that meets international standards. We are committed to raising a generation of experts, nationals and residents, through significant investments in education, training, and professional development, ensuring our industry is well-equipped to thrive globally.
By addressing these challenges, we position our industry for success and contribute to the UAE’s long-term vision of economic prosperity and global leadership.
People learn from their mistakes, more so CEOs and business heads, who use this learning to champion growth for their brand and staff. What are some of the learnings you have managed in recent times?
As a CEO, continuous learning has been crucial in shaping my leadership to ensure our business’s growth. Flexibility in thinking is vital in rapidly changing conditions. Being open to new ideas, challenging the status quo, and adapting to changes can lead to innovative solutions and new opportunities, helping us navigate uncertainty with agility.
Fostering a growth mindset has been key. Encouraging teams to see challenges as opportunities drives personal and organisational growth, propelling us toward strategic goals.
It’s also important to allocate enough resources for a strategic focus on the next big moves rather than getting lost in daily tasks. Strategic foresight ensures long-term success and keeps our company ahead of the curve.
Continuous learning and benchmarking by learning from leaders in other industries is invaluable. Cross-industry insights inspire innovation and sharpen our competitive edge, driving growth.
Staying grounded helps me understand societal challenges and stay connected to our teams, customers, and the broader community. This ensures our decisions are informed and empathetic. These lessons have guided me through challenges and to set the company for future success. Embracing them positions us to grow, innovate, and contribute positively to our industry and society.
How important is innovation as a facet of your brand’s operations and why?
For HAYAH, innovation is part of our value system. It is central to our brand’s operations. As a new player in the insurance industry, we’ve sought to stand out through innovation rather than replicating existing models. Technology and digital solutions are important, but true innovation comes from embracing new ideas, challenging norms, and seeing opportunities where others see obstacles.
We want to be seen as more than just an insurance provider – a lifestyle brand that connects with those unmet by traditional offerings. This ongoing innovation is crucial in customer engagement, product tailoring, and delivering value that meets evolving needs.
Our business, life insurance, operates at the intersection of the future and present: innovation is a necessity, driving our growth, relevance, and ability to empower today our customers’ future.
How pivotal is CSR to your brand’s role in fostering a sense of community within the sphere of your activities?
Corporate Social Responsibility (CSR) is integral to our brand’s core approach. Our business focuses on empowering the future of UAE communities, which echoes well with CSR’s objectives.
While CSR is part of our regulatory obligations, we have chosen to go beyond the basics. Our Vision 2030 strategy positions us as a leader, reflecting our commitment to making a meaningful impact on the communities we serve.
Our business is about securing the future: by embedding CSR into our brand’s DNA, we ensure that our growth and success are shared with the people and communities of the UAE.
Where do you see your brand, and yourselves 5 years from now in terms of growth?
We envision a complete evolution of our brand, driven by societal changes and industry advancements. As the UAE shifts, including the creation of a real pension market, we expect significant impact on the life insurance sector. We are ready to lead in adapting to these changes.
The maturing market and adoption of global standards will drive the localisation of life insurance. Currently, most of policies in the UAE are placed in offshore jurisdictions, mostly in the British Isles, often in ways that do not align with local regulations or the best interests of policyholders. As these practices are brought in line with domestic standards, we expect to play a pivotal role in providing compliant, transparent, and high-quality life insurance products that are locally placed and regulated.
Our strategy will guide us, ensuring growth in both relevance and impact. We aim to lead by delivering innovative, customer-centric solutions for a diverse, changing population.
In five years, we see ourselves as a market leader on our preferred segments, setting new industry benchmarks. Our growth will be measured by the value we create, the trust we build, and our contributions to the UAE’s economic and social fabric. By focusing on these areas, we are confident our brand will thrive and help shape the future of the life insurance industry in the UAE and beyond.
What is the legacy you would choose to leave behind for your staff and future CEOs and business leaders?
The legacy I hope to leave is rooted in talent building, societal empowerment, and promoting general welfare. These pillars will sustain our company’s success and contribute to the broader community and future leaders.
My goal is to create a lasting impact by investing in our people. I want to nurture a culture where talent development is central, fostering continuous learning, innovation, and growth. By empowering our employees, I aim to build a strong foundation for our organisation’s future, ensuring a pipeline of leaders ready to drive the company forward.
I want our brand to be remembered as a catalyst for societal progress. My vision is for our company to help society thrive through our business activities, CSR initiatives, and community engagement. Future leaders should recognise that business success is measured by the positive impact on society, not just financial performance.
Lastly, I aspire to leave a legacy of empowering social welfare, aligning our efforts with the well-being of the communities we serve. By prioritising health, protection, and overall welfare, I hope to inspire future CEOs to continue making a difference in the lives of others.
