Insurance sector serves as vital pillar of economy

MANAMA: Insurance industry is a vital segment of the Bahraini economy and the CBB is committed in supporting its growth, according to a senior official at the Central Bank of Bahrain.

“There is a huge potential market for innovative insurance products and by creating more awareness, insurance companies can boost their business prospects greatly. In association with BIA, we are bringing together the companies in the insurance sector to cooperate constructively to the benefit of the sector and the public,” Abdul Rahman Al-Baker, Executive Director Financial Institutions Supervision at CBB, told a Press conference on Wednesday.

Bahrain will launch insurance campaign aimed at promoting various insurance products such as health insurance, home insurance and life insurance will be the focus of this year’s campaign.

“Inspired by the success of the “Insurance Awareness Week 2013” campaign, Bahrain Insurance Association (BIA) has announced its plans to continue the above event in 2014. The awareness campaign, which will be held from 20 to 26th March, will be organised under the patronage of the Central Bank of Bahrain with the support of the Manama Municipality,” this was announced by the organisers on Wednesday.

“Amna”, BIA’s insurance mascot sporting traditional Bahraini attire will play the key role in conveying the messages to the public. ‘

The centrepiece of the awareness campaign will be a promotional stand at the Bahrain City Centre. A huge cut out of ‘Amna’ will draw the attention of mall visitors, who will be provided with more information about insurance products, attractive giveaways, etc.

“As the insurance industry’s umbrella organisation, BIA has been promoting the importance of insurance in people’s lives. Thanks to our initiatives over the past years, we have been quite successful in changing the perception of insurance as a protection against life’s unfortunate events to a sound investment to achieve one’s aspirations,” Younis Jamal, Chairman of the BIA, said.

“People are still in the dark when it comes to the various benefits offered by insurance products. For instance, most people are not aware that a health insurance can cover home nursing expenses or for that matter, a home insurance can protect domestic servants as well. So our main focus will be to make the public aware about the multiple benefits of having a home, health or life insurance,” Younis said.

In addition to the promotional stand at the BCC, BIA’s multi-media campaign utilises other media vehicles such as outdoor banners, SMS, radio jingles and press advertisements. The print advertisements will follow a three-day ‘answer and win’ teaser campaign that enables the readers to win surprise gifts with their knowledge of insurance products.

Younis thanked CBB, Manama Municipality officials and all the industry sponsors for their support of the Bahrain Insurance Week 2014.

Zain ad

About The Author

Related posts