Salem Al Mannai, deputy CEO of Q Life & Medical Insurance Company (QLM), joined Qatar Insurance Company (QIC) in 2001, “with an appetite to learn”.
QIC, in Al Mannai’s opinion, quenched his thirst for learning insurance and management techniques, which he has been practising at an organisational level. Commenting on his career with QIC, prior to taking charge at QLM, Al Mannai says, “The learning curve trajectory and the acceleration of world class growth of the organisation made me reinforce my bond with QIC.”
Under the leadership of the QIC Group, Al Mannai has successfully been overseeing the life and medical arm of QIC – QLM – since 2013 as its deputy CEO. “My contribution has been instrumental in expanding further QLM’s regional operations and in bringing innovative solutions to establish QLM as a pioneer in the life and medical insurance industry,” he says.
Insurance is an aggressive business, especially in Qatar, given the size of the country and the number of players. What is Al Mannai’s take on the competitive nature of the insurance business in Qatar?
In Al Mannai’s opinion, though many players have entered the market, he believes that “the fast growth of the country shall offset the effect to some extent”.
Despite fierce competition prevailing in the marketplace, QLM differentiates its offerings “with new and innovative concepts, services and products. Perhaps, we are the only national insurer with in-house expertise and experience to design and manage excellent local, regional and international medical and life products”.
Elaborating on what sets QLM apart from other health insurance providers in the Qatari market, Al Mannai singles out service standards. “We strongly believe that efficient service is the key for medical and life insurance lines which are service sensitive. To maintain and ensure service standards to our members, we are fully equipped with in-house claims management and a 24/7 call centre, which is handled by qualified and experienced professionals,” says Al Mannai.
QLM’s initiatives such as online services and the mobile app have been well received and appreciated by the market, Al Mannai mentions, adding, “Research and development is a continuous activity for us not only to accomplish the expectations of our customers but also to achieve customer satisfaction with our sought after products and services.”
Branding and rating
What, in Al Mannai’s opinion, does the QIC branding do for QLM?
Al Mannai says that QIC is the oldest, largest and highest rated insurer in the region with an underwriting footprint across the globe. Further, QIC has also gained international recognition and prominence for its reinsurance arm, Qatar Re, which has recently been ranked amongst the top 50 reinsurers in the world. He adds, “Underpinning the strength of the parent, QLM is building on its independent visibility using its customer-centric approach. By maintaining existing ties and building new partnerships with its customers, QLM is on the fast track of growth.”
QLM’s S&P rating is testimony to the fact that the company is the only specialised national insurer in the State of Qatar that provides end-to-end innovative, bespoke life and medical insurance solutions.
Talking about the factors that have contributed to the “A/Stable” rating from S&P, Al Mannai, “Our robust financial strength, qualified and experienced management, skilled employees and our mandate to provide outstanding service to our customers have been instrumental in achieving and maintaining independent rating from international credit rating agency Standard and Poor’s.”
Commenting on QLM’s special offerings to its potential and factors that the marketing team highlights in their sales pitch, Al Mannai tells The Edge, “We provide protection to our customers and their families by offering custom built plans, service provider network that spreads across different geographies, hassle free cashless facilities, online and mobile portals coupled with world class service to offer comprehensive life and medical insurance solutions leading to customers satisfaction.”
Milestones and plans
Al Mannai feels that for any organisation, winning customer confidence is the biggest milestone and QLM has achieved this by building a customer base comprising more than 130,000 members.
“The gross written premium has crossed QAR500 million in QLM’s third year and recording profits, right from its inception are equally significant milestones that QLM has achieved through its journey,” says Al Mannai.
At the international level, the ability to provide cashless service in various geographies including the United Kingdom and Germany by expanding the company’s direct network of healthcare providers and leveraging technology are the other key milestones, according to Al Mannai.
Discussing the corporate plans in the coming four years, Al Mannai says that QLM believes that ambitious growth plans are always built on solid foundations.
Citing the sources of corporate strength, Al Mannai says, “Our stable and aggressive plan is not limited to the region. Similarly, the product suites are not limited to corporate clients only. We aspire to be at the forefront of the league by using technology and innovation to enhance the medical insurance sector both locally and regionally.”
International health insurance benchmarks are tough in terms of standards and getting a wide coverage with the least exclusions. What has QLM incorporated of the international benchmarks, in its four years?
At QLM we offer tailor made life and medical products that suit the needs and expectations of a wide range of customers including multinational clients, informs Al Mannai. He adds, “We offer plans with international standard terms and benefits as well as flexible offerings to suit multinational and multi-cultural customers.”
QLM was founded around a unique and deliberate set of international benchmarks for facilitating quick and smooth access to a worldwide network of healthcare facilities and providing high quality claims settlement services in terms of accuracy and timelines. “Having incorporated such benchmarks in its structure and processes, QLM has been delivering world-class value to its customers. Outstanding service to our customers have been instrumental in achieving and maintaining independent rating from international credit rating agency Standard and Poor’s,” Al Mannai tells The Edge.
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