PRESS RELEASE: GAIP Successfully Concludes Its First Board Meeting
Announcing Transformative Initiatives for the Global InsurTech Industry
Dubai, UAE – March 11, 2025 –
Introduction
The global insurance market, currently valued at over $6 trillion, plays a crucial role in safeguarding economies and livelihoods. Within this vast financial ecosystem, InsurTech has emerged as a powerful force, transforming the insurance landscape with disruptive technologies. The InsurTech market, currently valued between $16 billion and $20 billion, is expected to experience exponential growth, reaching an estimated $60 billion to $80 billion by 2030.
InsurTech’s global influence spans across all six continents, with innovations tailored to regional needs. North America is leading with AI-driven underwriting, Europe champions open insurance platforms, Asia is leveraging blockchain for microinsurance, Africa is pioneering mobile-based solutions for underserved markets, Latin America is optimizing digital claims management, and Australia is advancing parametric insurance for natural catastrophes .
Recognizing the transformative power of InsurTech, the Global Association of InsurTech Professionals (GAIP) is committed to driving innovation, education, and professional development within this rapidly evolving sector. As an international non-profit professional body, GAIP brings together insurance and technology experts to promote best practices, facilitate research, provide professional certification, and foster a global community dedicated to advancing InsurTech. GAIP aims to become the leading global professional association for InsurTech professionals, advocating for industry collaboration, policy development, and knowledge sharing to create a robust and future-ready insurance ecosystem .
GAIP’s First Board Meeting: A Milestone for the Global InsurTech Industry
Under the visionary leadership of Dr. AFTAB Hasan, Founder & Chairman of GAIP, the first official GAIP Board Meeting convened industry leaders from across the world, marking a historic milestone in shaping the future of InsurTech.
The board reaffirmed GAIP’s commitment to fostering innovation, expanding its global presence, and strengthening strategic partnerships to accelerate InsurTech adoption worldwide. Key discussions revolved around GAIP’s global expansion, new industry initiatives, and preparations for the upcoming GAIP – InsureTek 2025 International Conference in Dubai.
Dr. AFTAB Hasan emphasized:
“GAIP is not just an organization; it is a global movement to transform insurance through technology. Our first Board Meeting sets the foundation for impactful initiatives that will shape the future of InsurTech, ensuring regulatory recognition, industry collaboration, and financial sustainability for this fast-growing sector.”
The session was attended by Sir Sohan Roy, H.E. Fareed Lutfi, Rohit Boda, Frederik Bisbjerg, Avinash Babur, Mohammad Ajmal Bhatty, Massimo Falcioni, Dr. Bassel Hindawi, Asif Iqbal, Chakib Abouzaid, Nir Perry, Michelle Grosso, Ahmed Eissa, Yousuf Amin, Dr. Vijay Kalantari, Tarun Chopra, Abdullah Faisal Biari, Anand Singh, Saran S, Anas Mistareehi, Maher El Ghailani, Miguel Santos, Ayman Al Ajmi, Anshul Srivastav, Dr. Tariq Ahmed Nizami
Key Announcements & Initiatives from the Board Meeting
🚀 GAIP – InsureTek 2025: The Global InsurTech Convergence
The upcoming GAIP – InsureTek 2025, scheduled for April 16-17, 2025, in Dubai, will serve as a premier platform for InsurTech professionals, regulators, investors, and technology leaders. This event, along with the Golden Shield Excellence Awards, will highlight cutting-edge innovations and industry best practices while facilitating high-level discussions on emerging trends, regulatory challenges, and investment opportunities.
Speaking on the importance of this event, Dr. AFTAB Hasan emphasized:
“GAIP – InsureTek 2025 is more than just a conference; it is a global movement to unite industry stakeholders and foster regulatory recognition for InsurTech’s transformative role. This event will serve as a catalyst for future expansion, bringing GAIP’s vision to emerging markets worldwide.”
Sir Sohan Roy, Vice Chairman of GAIP underscored the significance of this event, stating:
“GAIP – InsureTek 2025 will be a defining moment for the global InsurTech community. It is an opportunity for industry leaders to collaborate, exchange ideas, and create meaningful partnerships that will drive the future of digital insurance.”
H.E. Mr. Fareed Lutfi, Secretary General of GAIP, emphasized:
“Collaboration is the key to industry transformation. By forging alliances with regulatory authorities, InsurTech associations, and insurance leaders, we can accelerate innovation, bridge market gaps, and collectively address industry challenges. InsurTech is transforming risk management, but without strong regulatory frameworks, its potential will remain untapped. GAIP will work closely with policymakers to ensure an innovation-friendly environment that benefits both businesses and consumers.”
📺 GAIP TV: The World’s First 24/7 InsurTech Channel
In a groundbreaking initiative, GAIP announced the launch of GAIP TV, the first-ever 24/7 digital channel dedicated exclusively to InsurTech. GAIP TV will provide:
✅ Real-time industry insights
✅ Expert panel discussions
✅ Live coverage of global InsurTech events
✅ Exclusive interviews with industry pioneers
This platform aims to keep industry professionals informed and engaged with the latest News, advancements in InsurTech, AI, blockchain, risk management, and regulatory developments.
💡 InsurTech Venture & Incubation Fund for Research & Innovation
To foster technological advancements and support early-stage startups, GAIP is launching an InsurTech Venture & Incubation Fund in collaboration with academic institutions, industry leaders, and government bodies.
This initiative will:
📌 Promote research on emerging insurance technologies
📌 Encourage collaboration between startups and established insurers
📌 Support regulatory innovation and policy advocacy
🎓 GAIP Partners with Leading Universities for InsurTech Education & Certification
In its mission to equip professionals with cutting-edge InsurTech knowledge, GAIP will sign Memorandums of Understanding (MOUs) with two prominent universities at GAIP – InsureTek 2025 to launch specialized InsurTech courses and professional certifications.
These programs will focus on:
🔹 AI & Data Analytics in Insurance
🔹 Blockchain & Smart Contracts
🔹 Cybersecurity & Risk Management
🔹 Regulatory Frameworks & Compliance
Sir Sohan Roy highlighted the need for industry-academic collaboration:
“The future of InsurTech depends on skilled professionals who understand both technology and risk. Our partnership with universities will bridge this gap, ensuring that the next generation of InsurTech leaders is well-equipped for the digital era.”
✅ GAIP Quality Assurance Program: Best Practices & Benchmarking
GAIP is committed to establishing industry-wide standards for InsurTech solutions.
GAIP Quality Assurance Program will:
📌 Develop the best global practices for InsurTech implementation
📌 Conduct benchmarking studies on emerging solutions
📌 Provide guidelines for regulatory compliance and operational excellence
🗣️ Advocacy & Policy Development for InsurTech Growth
The board unanimously agreed to take an active role in shaping InsurTech policies, engaging with government authorities, regulators, and industry bodies to:
✅ Advocate for policies that promote innovation and consumer protection
✅ Address regulatory barriers limiting InsurTech adoption
✅ Represent InsurTech professionals in global policy discussions
🌍 Global Membership Drive & Periodic Community Engagement
GAIP is launching an aggressive global membership drive, inviting professionals from insurance, reinsurance, technology, and risk management to join its network.
📌 Exclusive access to industry reports and insights
📌 Networking opportunities with global InsurTech leaders
📌 Participation in InsurTech-focused events and training programs
Additionally, GAIP will host periodic community engagement events, including:
✅ Regional conferences & summits
✅ Webinars & expert panel discussions
✅ Workshops on InsurTech best practices
📢 A Call to Action for InsurTech Leaders
GAIP is inviting industry stakeholders, investors, and professionals to collaborate in shaping the future of InsurTech. Through sponsorships, strategic alliances, and thought leadership, GAIP aims to build a globally interconnected InsurTech ecosystem that drives sustainable industry transformation.
