Overall Insurance Provider of the Year – UAE Oman Insurance Company (PSC), or OIC, is one of the leading insurance solutions providers in the Middle East with its headquarters in Dubai. Their vision is to be a world class financial services provider with a concern for people and the passion for excellence. We spoke to the company after recently winning our Overall Insurance Provider of the Year UAE award.
Best Digital Insurance Firm & Best for International Health Insurance Now Health International is a specialist international health insurance provider who aims to deliver peerless service to their customers. They have recently been awarded our Best Digital Insurance Firm & Best for International Health Insurance award.
Best for Personal Lines Insurance Coverage & Best Reinsurance Programme Wealth & Finance is pleased to award The Allstate Corporation, the largest publically traded U.S. personal lines insurer, with its 2014 “Best for Personal Lines Insurance Coverage & Best Reinsurance Programme.” Presented by
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Welcome to the 2015 Insurance & Reinsurance Awards! As we head into the second financial quarter, the atmosphere of optimism and excitement within the global insurance industry has been reflected in the huge interest we have seen in our 2015 Insurance & Reinsurance Awards. With the insurance industry finally emerging from a period of sustained financial turmoil, these prestigious awards celebrate the innovative and client-centred firms that have achieved truly stellar results over the past 12 months. These are the individuals and businesses that have been forging new paths, making the most of new opportunities and navigating the new and complex challenges presented by the industry. They have shown that, regardless of the state of the wider global landscape, the ability to adapt and unwavering commitment are still powerful attributes that can play a huge part in lifting a firm above its competitors. But not just anyone can walk away with one of these awards. Our dedicated and highly experienced judging panel leave no stone unturned as they delve into the details behind every nomination, rigorously researching each nominee, their sector, industry and even their competition in an effort to ensure that only the most deserving take home the prize. All awards are given purely on merit meaning that our winners can be rightly proud of their achievement and rest safe in the knowledge that they are rubbing shoulders with some of the best-performing and most highly regarded firms from around the globe.
Overall Insurance Provider of the Year – UAE Oman Insurance Company
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Best for Personal Lines Insurance Coverage & Best Reinsurance Programme Allstate Insurance Company
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Best Digital Insurance Firm & Best for International Health Insurance Now Health International
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Corporate Health Insurance Provider of the Year ADVO Group
10
Award for Innovation in Captive Insurance - New Jersey Office of Captive Insurance
12
Best Niche Provider (Aeromedical Transport) Commercial Medical Escorts (CME)
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Insurance Law Firm of the Year – Austria BLS Rechtsanwälte
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Read on to see who has been named among the top performing insurance firms over the past 12 months. Once again, congratulations to all our winners and here’s to a great 2015. Mark Toon, Editor cover photo Luciano Mortula / Shutterstock.com
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Overall Insurance Provider of the Year – UAE
Oman Insurance Company Oman Insurance Company is one of the leading insurance solutions provider in the Middle East with its headquarters in Dubai. Their vision is to be a world class insurance provider with a customer-centric focus and a passion for excellence. We spoke to the company after recently winning our Overall Insurance Provider of the Year UAE award.
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Steven Bostock / Shutterstock.com
Email: contact@tameen.ae Web: www.tameen.ae Address: Al Maktoum Building # 24, Al Maktoum Road, Deira, Dubai, United Arab Emirates Phone: +971 (0) 4 233 7777 Oman Insurance Company (OIC) was established in 1975 and is now one of the leading insurance providers in the Middle East. The company offers a wide range of insurance solutions for individuals and corporate clients in Life, Medi¬cal, and General insurance. OIC has operations across Emir¬ates in the UAE as well as in Oman, Qatar and a subsidiary in Turkey. OIC also owns a medical third-party administrator in Iraq. Oman Insurance is a financially sound company, with a gross written premium of $885 million in 2014 and assets over $1.64 billion. The company is rated ‘A Excellent’ by AM Best and ‘A- Positive’ by Standard & Poor’s. Over the years, Oman insurance has built international part¬nerships with Bupa International, Generali, Coface for Credit insurance and Star Health in India to reinforce its product offering. The company also offers reinsur¬ance capacity across different lines of business. With more than 15,000 corporate clients serviced across different industries, Oman Insurance provides everything from comprehensive Employee Benefits solution, to simple SME package and tailor-made insurance programs for mega projects like Dubai International Airport expansion or Burj Khalifa. The company practices true customer focused services through its quality product offering. This often means going that extra mile to tailor-make special cov¬ers based on specific risk. As a composite carrier, OIC provides an extensive range of insurance solutions for medium to large indus¬trial and commercial enterprises across nearly every industry from Aviation to Utilities. The team, comprising insurance experts with international experience and in-depth industry knowledge is dedicated to delivering world-class service.
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Best for Personal Lines Insurance Coverage & Best Reinsurance Programme
Allstate Insurance Company Wealth & Finance is pleased to award The Allstate Corporation, the largest publicly traded U.S. personal lines insurer, with its 2014 “Best for Personal Lines Insurance Coverage & Best Reinsurance Programme.” By leveraging its eight-plus years of experience in the catastrophe reinsurance market, its well defined portfolio, and its cutting edge catastrophe risk modeling, Allstate Insurance Company, along with its affiliates (“Allstate”) protects its 16 million insured households while preserving its $16.3 billion in statutory surplus from major catastrophe losses.
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Web: www.allstate.com Address: 2775 Sanders Road, Northbrook, IL 60062 Allstate’s Catastrophe Reinsurance Program is one of the world’s largest. For the 2014-2015 risk period, the Program provides over $4 billion in reinsurance for personal lines property and auto losses in 50 states and the District of Columbia (“D.C.”). Over the Program’s eight year history, Allstate has diversified its trading partners while utilizing unique and cutting-edge reinsurance structures to respond to changes in its portfolio, its risk appetite and market conditions. Allstate entered the Insurance Linked Securities (“ILS”) market in 2007 placing an index triggered reinsurance agreement with $250 million in exposed limits. This was followed a year later with another $250 million index agreement. Currently, Allstate is one of the world’s top five purchasers of ILS-sponsored reinsurance agreements, with $1.3 billion in exposed limes placed with Sanders Re, Ltd., Allstate’s sponsored special purpose reinsurer. These placements include index triggered agreements covering 29 states and D.C. for wind and earthquake losses, as well as an indemnity triggered agreement covering Florida only wind and earthquake losses and reinsuring Allstate’s Florida-only personal lines homeowner insurers. Recognizing Allstate’s commitment to the traditional and ILS insurance markets, its ability to align coverages provided by the traditional market and those of the ILS, and its ability to respond to evolving market conditions, Wealth & Finance takes pride in awarding Allstate’s 2014 Catastrophe Reinsurance Program “Best for Personal Lines Insurance Coverage & Best Reinsurance Programme.” The Program includes many novel features. It combines multi-year term ILS placements with traditional one and multi-year term placements, thus leveraging record-low reinsurance pricing while preserving Allstate’s ability to annually increase or decrease its retention of risk. It also incorporates into an ILS indemnity placement a dropdown mechanism which responds to the erosion of underlying contracts placed in the traditional market, thus exemplifying the effective integration of traditional and ILS placements. Most recently, Allstate expanded its presence in the ILS market with the placement of an additional $950 million in limits in 2014 in index and indemnity-based reinsurance agreements. Congratulations Allstate for a job well done!
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Best Digital Insurance Firm & Best for International Health Insurance
Now Health International Now Health International is a specialist international health insurance provider who aims to deliver peerless service to their customers. They have recently been awarded our Best Digital Insurance Firm & Best for International Health Insurance award.
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Email: GlobalSales@now-health.com Web: www.now-health.com Address: PO Box 482055, Dubai, UAE Phone: +971 (0)4450 1500 Our promise to our customers is in our name: ‘Now’ global health insurance. This means clear, relevant information, easy to use online tools and fast service from people who respect your time. Our products are designed to be comprehensive and full of benefits. Extensive research has aligned our offering with the other top global health insurance providers in the market. Now Health International is a global business offering private medical health insurance to customers around the world. Our headquarters is in Hong Kong and we also have regional service centres in Hong Kong, Shanghai, Dubai, and the United Kingdom. These regional service centres are located in strategic areas, allowing our customers to easily access expert local knowledge about their claims. We specialise in private medical health insurance, helping clients across the globe. Our motto is to put customers first and we carry this out by delivering our promises, thinking ahead and valuing our people. The services delivered through our company include comprehensive products with high benefit limits and clear, relevant information, so that the customer knows exactly what is and isn’t covered. There is also access to healthcare worldwide without having to pay upfront, via our provider network. We offer straightforward processes and quick turnaround times from joining to claiming, as well as continuous cover from country to country in most cases. Now Health International aim to provide the correct tools to manage your information online from anywhere in the world. We have an extensive and constantly growing network of providers enabling our customers to access healthcare worldwide. We believe that certain aspects of our company set us aside from others, such as our service that offers our customers use of a personal online portfolio. Customers can also turn their quotes into an online plan by completing the process through our secure website or by requesting a call me back. We’ve designed our international health insurance plans to fit into busy lifestyles, so there is no need to spend unwanted time submitting and chasing a claim. Finally, once a health insurance plan has been purchased, we’ve designed accessing it simple and easy to use.
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Corporate Health Insurance Provider of the Year
ADVO Group ADVO is a leading UK brokerage that delivers traditional services with a focus on added value. They do this through having the right people supported by their own in house technology. Their philosophy is to be different and invaluable. ADVO Group offers employee benefits solutions through the care and expertise of Investors in People staff with a client retention rate of 97%. We recently spoke to the company after they won our Corporate Health Insurance Provider of the Year award.
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white cliffs of Dover, Kent, UK Email: info@advogroup.co.uk Web: www.advogroup.co.uk Address: ADVO House, St Leonards Road, Allington, Kent, ME16 0LS, United Kingdom Phone: +44 0845 2578833 “Technology and people is the key” says Colin Boxall, ADVO’s Commercial Director. “You need to have great people but give them the tools to be the best they possibly can. We demand a great deal from our people. They are expected to be always at the top of their game, but also to enjoy working here.” Boxall goes on to say “The personal touch is important for us. Our technology platforms may separate us from competitors but it is our people that ultimately make the difference.” The UK broking market for Employee Benefits is becoming increasingly commoditised with little to distinguish the top 20 broking firms. Companies such as ADVO now have to stand out and offer more if they want to grow. ADVO has for many years recognised the common difficulties for employers in efficiently managing multiple staff benefits while effectively communicating value to employees. All ADVO clients have access to their unique online management system which removes much of the burden from Human Resources Departments. Individual staff portals are a boost to engagement helping employees understand and appreciate the value of their benefits and allowing greater flexibility over individual lifestyle needs. In addition they include total reward statements, treatment locators, insurer online claims and links to retail discount sites to encourage frequent visits. Online Platforms are nothing new but offering such wide support within existing fees tailored to the mid-sized and small corporates and managed, owned and run by an intermediary firm is something new. For employers it solves the challenges of how to manage multiple staff benefits effectively and get ‘buy-in’ from Staff without spending prohibitively large sums of money. Boxall comments. ‘We are astounded by costs charged for online platforms. Technology, once developed has little ongoing cost with the main overhead data control. Advisor firms have in the past used technology and online benefit platforms to make big profits. Our view differs. Use of technology brings considerable efficiencies which we are able to pass onto clients.” ADVO’s CEO, Larry Bulmer adds, “Even if clients do not use the system the functionality is there, ready to be activated. Our account managers use the system in the same way regardless of any client interaction as it controls and links into all of ADVO from policy management, compliance, training, accounts and Introducers. It is ideal for multi-country employers in managing and communicating with staff.” “ADVO is well known in the UK, as a first rate intermediary but this is the first time recognition has extended overseas. Being awarded best intermediary by a magazine with such a global reach is particularly pleasing”
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Award for Innovation in Captive Insurance - New Jersey
Office of Captive Insurance The Office of captive Insurance Company handles all aspects of the admissions and re-domestication process as well as answering any questions a captive owner or prospective captive owner may have within the New Jersey Department of Banking and Insurance. They were recently awarded our Award for Innovation in Captive Insurance - New Jersey. We were in contact with Chief John M. Talley, J.D. of the company to find out more about the business and their responsibilities.
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Name: John M. Talley, J.D. Chief Since Governor Chris Christie signed the Captive Insurers Act in 2011, which allowed the formation of captive insurance companies in New Jersey, the State has quickly become a respected domicile in the captive insurance market. Since the law was enacted, New Jersey has licensed 17 captive insurance companies. In 2013 with 14 captives, New Jersey reported a total of $385 million in surplus and $456 million in total premium in 2013, ranking it 10th out of the 29 reporting domiciles in the United States. Since 2011, New Jersey has collected over $1.2 million dollars in premium taxes. For 2015, New Jersey Department of Banking and Insurance, Office of Captive Insurance, has been given the award For Innovation in Captive Insurance in Insurance and Reinsurance by the Wealth and Finance International magazine. The Office of Captive Insurance, within the New Jersey Department of Banking and Insurance, handles all aspects of the admissions and re-domestication process as well as answering any questions a captive owner or prospective captive owner may have. Overall, the New Jersey Insurance Division regulates more than 3,000 insurance companies with some of the world’s largest insurance carriers domiciled in New Jersey. The Commissioner of Banking and Insurance is committed to further growth in New Jersey’s dynamic captive insurance market.
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Best Niche Provider (Aeromedical Transport)
Commercial Medical Escorts (CME) Commercial Medical Escorts (CME) is an air medical transportation company that maintains a cost effective alternative to using an air ambulance. We recently spoke to Blake Yturralde, CEO of Commercial Medical Escorts after they won our Best Niche Provider (Aeromedical Transport) award.
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Website: www.commercialmedicalescorts.com Email: info@commercialmedicalescorts.com Address: 2499 Glades Road, Suite 106B Boca Raton, FL 33431 Tel: +1.561.451.8063 Commercial Medical Escorts (CME) is a leader in air medical transportation. We are dedicated to providing and maintaining superior patient care throughout all of our domestic and international air medical transports as a cost effective alternative to air ambulance. When your patient or loved one is in need of domestic or international air travel and requires medical assistance, C.M.E. is able to provide that care. Whether being relocated or is stricken while on vacation, C.M.E. is there for you to arrange aeromedical travel assistance during this stressful time. If you have a need for a non-medical escort, C.M.E. provides assistance for unattended minors, or anyone traveling alone that may need additional assistance. Our caring medical professionals deliver the highest quality medical escort services. We have worldwide coverage and have medical personnel located throughout the country. We will never jeopardize your patient or loved one’s health and safety. We have an extensive medical team comprised of critical care nurses and physicians who are readily available to address any situation. All of our medical and operational staff are well travelled and familiar with handling any obstacle that may occur while traveling the globe. Our 24 hour a day, 7 days a week operations centre is capable of accommodating clients from every time zone in the world for your air medical transport needs. After your first contact with one of our friendly and knowledgeable Patient Logistic Specialists, we will obtain a preliminary medical report and clearance to assess your patient or loved one’s qualifications for our medical escort services. In many cases, the first contact you make with Commercial Medical Escorts will be the most that you, as our client, will have to do to execute a transfer and a stress free air medical transport. Commercial Medical Escorts exceeds industry standards in all departments. Our nurses and physicians are required to have over three years critical care experience and maintain qualifications to assure they have the training that exceeds our standards. CME is accredited by The Commission on Accreditation of Medical Transport Systems, assuring our clients are receiving the highest level of care. Along with this, we ensure that all of our logistical and medical staff go above and beyond to assure the patient’s we transport are treated with the best care possible.
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Insurance Law Firm of the Year – Austria
BLS Rechtsanwälte BLS Attorneys at Law is a law firm that was founded in 1974. With currently 45 employees, the business offers legal advice for companies and private clients. We were recently in contact with Philipp Scheuba, a partner of BLS Rechtsanwälte since 2006. Along with his colleagues, Philipp has an excellent portfolio of experience and knowledge, as well as a generous education background.
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Website: www.bls4law.com Email: office@bls4law.com Address: BLS Rechtsanwälte Boller Langhammer Schubert GmbH, Kärntner Straße 10, 1010 Wien, Österreich (Austria) Tel: +43(1) 5121427 We work together as a team so our case solutions often develop through team work, made up of expert lawyers with different specializations. Our organizational structure stimulates efficient and subject specific communication. It is our objective to connect long term experience with modern dynamics. Therefore, we also cooperate with other law offices and external experts. Our law office corresponds in English, German, French, Italian, Spanish, Albanian, Polish, Slovenian and Slovakian. We offer legal advice for companies of all sizes in Austria, Europe and overseas. Our expert team is at hand to deal with commercial accounts and our office is fully electronic, enabling organisation and connection with the court via data. Our law office is the only Austrian law firm that is a member of the AVRIO Advocati European Law Firms Association with seat in Brussels and partner companies in all European Union member states as well as countries in Southeast Europe and oversea. Due to this, we have in place a legally substantiated and efficient process for our clients on an international level if required. We attend private clients in all important economically relevant legal matters. Focal points are tort, especially accidents and medical liability matters, construction matters as well as labour law, law of inheritance, real estate law and rent law. The lawyers of our Vienna law firm provide their consultation, negotiation and litigation services according to our general terms and conditions. Our core areas include Commercial Law, Corporate Law, Labor Law and Real Estate Law. On behalf of cost minimization we put great effort into resolving legal cases in the run up to legal proceedings and to close them successfully. However, numerous legal proceedings successfully conducted by our lawyers have turned them into experts for litigation and arbitral proceedings, even in cases of international trade disputes. Therefore we believe that one thing is especially true, ‘Good contracts can prevent legal proceedings!’
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