Abu Dhabi Chamber supports sustainable innovative solutions

Gulf Today, Staff Reporter

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) is participating in the World Future Energy Summit (WFES) hosted by the Abu Dhabi Future Energy Company (Masdar), taking place at the Abu Dhabi National Exhibition Centre (ADNEC) from 16-18 April 2024.

The Abu Dhabi Chamber’s participation in the summit is driven by the event’s role in providing a local and global platform for entrepreneurs from various countries. It underscores the event’s exceptional role in promoting sustainable development, supporting purposeful initiatives, and spearheading actions to address climate change.

ADCCI will be participating in the World Future Energy Summit (WFES) through its own pavilion, which includes nine national and local companies specializing in several activities related to energy and its technical solutions, including Dunes & Waves, Yellow, EFATE - Electronic Waste Management, Al Byout AlTiniya (P&M), Verofax, SOLABOLIC, Thamara, and Infinite Roots.

Ahmed Khalifa Al Qubaisi, Chief Executive Officer (CEO) of ADCCI, said: “Our participation in the summit aligns with our enduring dedication to driving both national and global trends aimed at promoting the launch of sustainability initiatives to advance the comprehensive development process witnessed in the UAE, as well as encouraging businesses to contribute directly to addressing the repercussions of climate change, leading to building a more sustainable future for future generations.”

“The Abu Dhabi Chamber is participating in this event with a special pavilion that includes a number of companies specializing in the energy and sustainability sector. The participation of these companies will contribute to enhancing the exchange of experiences, highlighting best practices in the sector, and presenting the latest sustainable solutions and innovations. Additionally, it’ll be an opportunity to establish partnerships and attract more investments, in a way that supports our efforts and initiatives to enhance the growth and prosperity of the private sector in general and the energy sector in Abu Dhabi in particular.” Al Qubaisi added.

The World Future Energy Summit (WFES) is one of the main events of the World Future Energy Summit, with a plethora of activities, panels, and forums. The event’s partners, including the Chamber as well as a number of international startups and SMEs, will showcase the latest sustainable technologies in the energy sector, such as urban transportation, clean energy, agricultural technologies, and AI; thereby bolstering Abu Dhabi’s active contribution to promoting environmental works and providing the necessary investments to advancing the energy sector locally and internationally.

NewTech Insurance Brokers, a leading licensed and regulated insurance brokerage powerhouse in the UAE, has expanded the scope of its health insurance offerings in response to the approved implementation of a mandatory health insurance system in all seven Emirates, effective January 1, 2025. The company has also opened a new office to better serve customers in the UAE with its array of cutting-edge health and medical insurance solutions.

According to data from the Central Bank of UAE (CBUAE), the insurance sector in the UAE registered a significant growth of 12.7 per cent in gross written premiums in 2023, reaching $14.5 billion as opposed to the figures recorded in 2022. The health and medical insurance market in the UAE has grown significantly due to the rising demand for health insurance. The market is estimated at $10.51 billion in 2024 and is projected to increase at a compound annual growth rate (CAGR) of 12.38 per cent to reach $18.83 billion by 2029.

Recently, the UAE Cabinet approved the establishment of a UAE-wide health insurance system requiring employers to provide health insurance to its employees. This initiative, which includes all domestic and private sector employees, was launched to ensure that residents’ healthcare costs are more affordable.

The expansion of services by NewTech Insurance Brokers, which holds a Health Insurance Permit (HIIP) from the Dubai Health Authority and is registered with the UAE Insurance Authority under registration no. 282, includes a comprehensive range of reasonably priced, and reliable insurance products and solutions, tailored to meet the diverse needs of individuals and businesses in the country. Unexpected medical expenses resulting from disease and accidents are covered by the company’s health insurance packages, both inside and outside of hospitals. Furthermore, protection against dental and optical procedures are also included in this insurance package offered by the company.

Arvind Kashyap, CEO of NewTech Insurance Brokers, stated: “The critical need for reliable health insurance has increased in recent years owing to the rising cost of healthcare on a global scale. At NewTech Insurance Brokers, we recognise this need and are committed to offering innovative and reasonable insurance solutions tailored to our client’s unique needs and requirements.