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ADNIC: Building a trusted insurer brand

Ahmad Idris, CEO of Abu Dhabi National Insurance Company, talks about product innovation, customer centricity and becoming a market leader

1) Can you give us an overview of ADNIC, how does it operate to provide support and reassurance to their clients?
Abu Dhabi National Insurance Company (ADNIC) was founded in 1972 and is one of the region's leading multi-line insurance providers for individuals and corporates across the Middle East and North Africa. Our commercial lines include covers for home, life, medical, motor, travel and personal accident, as well as more niche products such as personal watercraft insurance and wedding insurance. On the corporate side we serve company's from the aviation, construction, energy, marine and financial industry and we provide group medical insurance and covers for liabilities, life and travel. We also have a number of Bancassurance partnerships with leading banks in the UAE.
2) How has ADNIC grown since its inception, what strategies have made it successful? Comment on the development and standout products.
Customer centricity and product innovation is at the core of ADNIC's business strategy. We strive to serve all our clients in the best way possible through the most customized solutions. We also remain selective in our underwriting approach and focus on retaining our balance sheet strength.
3) What are the core values of ADNIC and how have they been a driving force in providing unmatchable services? What is the vision of ADNIC, and mission?
Our core values are Customer Centricity, Reliability, Innovation, Fairness and Loyalty and we truly embed them in our culture at ADNIC. These values are integral to the way we do business and we pride ourselves on continuously upholding them when we interact with our shareholders, partners and clients.
4) Innovation and product development are key at ADNIC. Can you elaborate on this statement and explain how innovation plays a crucial role in your industry?  
Through our dedicated ADNIC Product Innovation Committee (APIC), comprising representatives from various divisions within ADNIC, we are able to identify opportunities to differentiate ourselves from competitors. We have developed a pioneering approach to new product development that allows us to introduce products that the market has never seen before.
We are also constantly monitoring trends in the industry which enables us to quickly respond to a growing demand for bespoke insurance products. Most recently we have introduced the UAE's first wedding insurance product, Mabrouk, and an enhanced home insurance product, HomeSafe, which enables all our customers to choose a home insurance cover according to their needs and budget.
5) What does the future hold for ADNIC? Could you tell us about your role as leading providers of risk underwriting solutions? Does ADNIC plan on expanding into other regions, and segments?
Despite increasingly competitive market conditions, we have seen a very positive 2016, financially and operationally. We were able to adapt to changing market conditions by implementing a selective underwriting approach. Our financial and operational performance throughout 2016 demonstrate that the strategic realignment has benefited the company and helped ADNIC to maintain its leading position in the market. Our key priority going forward is to remain responsive and enhance our customer service by providing clients with state-of-the art-technology for improving and simplifying claims processes. We are also continuing our efforts to maintain our high level of customer satisfaction through product innovation.
ADNIC appointed participating insurer by Dubai Health Authority
Abu Dhabi National Insurance Company (ADNIC) has been included as a Participating Insurer (PI) by the Dubai Health Authority (DHA) to offer health insurance coverage under its Essential Benefits Plan (EBP).
The PI status is provided to select insurers by DHA after a rigorous evaluation process based on criteria such as the insurer's capacity, financial standing, and performance in the healthcare segment, among others. As a Participating Insurer, ADNIC will now offer basic health benefits to those segments of Dubai's population that earn less than Dh4,000 a month.
The PI status reinforces ADNIC's position as the leading insurer in the UAE across personal and corporate lines and is testament to its superior level of service, financial strength and underwriting capabilities. The ADNIC EBP plan offers quality basic health insurance coverage at an affordable price and includes a wide range of benefits including elective treatment in Dubai and Northern Emirates, cover extension outside the UAE and a Global Assistance Programme for emergency medical evacuation outside the UAE.
As per the UAE Health Insurance Law, companies with more than 1,000 employees were required to ensure every employee with health insurance coverage by October 2014.
In the second phase of the plan, companies with 100-999 employees had to implement full health insurance coverage by July 2015. Under the third phase, companies with less than 100 employees were given until June 2016 to arrange for complete insurance coverage. Initiated by the Dubai Health Authority,
Dubai's mandatory health insurance law legislation was signed into law by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in November 2013.