This was revealed during a joint Press conference of the Bahrain Insurance Association (BIA) and Central Bank of Bahrain (CBB) during the launch of “Insurance Awareness Week” in Bahrain kicked off on Thursday.
A weeklong campaign from 21st to 27th March aims at creating insurance awareness and introducing various insurance products and their role in enhancing people’s lives and protecting their property and possessions.
Complementing this awareness week will be BIA’s new media campaign to educate everyone about the benefits of various insurance products. The campaign is centered on a lifeline concept that illustrates the journey that everyone undertakes during his or her lifetime. The lifeline features a number of stages in life such as birth, education, career, travel, family, retirement, etc., where a suitable insurance product can make a positive change.
The centrepiece of the awareness campaign will be an engaging public event, opened on 21st and continues till 24th March at Bahrain City Centre, provides mall visitors an opportunity to be portrayed in various phases of life and capture interesting moments.
“The event will also be a launch pad for the insurance industry’s new and aptly named brand mascot ‘Amna’, which means safety and peace in Arabic. Amna is affable, friendly and trustworthy character sporting traditional Bahraini attire.
“The perception of insurance has changed largely over the years from protection against life’s unfortunate events to investments that support life’s dreams and aspirations. We want to capitalise on this by educating the public about the advantages of having insurance products that suit everyone’s lifestyle needs. The Insurance Awareness Week is a critical step in this direction,” Younis Jamal, Chairman of the BIA, said.
BIA is promoting the awareness week in association with the CBB, the regulatory body responsible for devising monetary policies and systems to maintain Bahrain’s credibility as an international financial centre.
“Committed to the development of Bahrain’s economy in general, CBB extends its full support to BIA’s initiatives in promoting the insurance sector. There is a huge potential market for innovative insurance products and by creating awareness of available products, insurance companies can boost their business prospects greatly. In association with BIA, we are bringing together the companies of the insurance sector to cooperate constructively to the benefit of the sector and the public,” Abdul Rahman M. Al-Baker, Executive Director Financial Institutions Supervision at CBB, said.
BIA officials are optimistic about the growth of Bahrain’s insurance sector and full of praise for CBB’s initiatives and policies to promote Bahrain as a regional financial hub, especially for insurance services.