Farooq Ahmed Farid

Farooq is a qualified actuary, a risk management professional, strategist, technical expert and a data scientist. He has worked for the top insurers within UAE and abroad, covering all areas from Non-life, Health and Life Insurance. He is well-versed with the current insurance regulations and participates actively as a speaker and panelist at international insurance conferences as well as working party committees formed by the regulator.
As a key member of the management team, Farooq has been instrumental in helping to develop and institute international best practices for analytics, underwriting, actuarial pricing, reserving and valuation, product development, reinsurance, database structuring and formulating business strategy plans.
He is currently working as a Strategist & Technical Head for Oman Insurance Company (OIC), the largest composite insurance company of UAE; having its offices across the Gulf region and Turkey. His strategic & technical function in OIC includes advising senior management on matters such as premium pricing structures, portfolio performance, improved profitability, market opportunities and reinsurance optimization.
Prior to that Farooq has worked for ADNIC the largest composite insurance in Abu Dhabi; where he was heading the pricing function within Actuarial Services and Risk Management Department. In this capacity, he has developed Medical, Motor, Marine, P&C & Life pricing structures and systems and participated actively in the development of Risk Management function.
Farooq has his expertise both in conventional insurance and takaful as he has also served as Head of Product Development and Actuarial Division for Takaful Pakistan, one of the largest Takaful companies in Pakistan.

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