Swarnalika Vyas: The benefits of insurance in the UAE attract skilled workers

Dubai: Farouk Fayyad
The UAE is considered one of the countries that attracts skilled and trained manpower due to the flexible state laws that respect the rights of workers, and that benefits working conditions, times, holidays, leave and end-of-service benefits in a way specify. which guarantees the rights of the labor force and the employer at the same time, and the insurance sector is one of these sectors that strives to ensure the worker’s right to life insurance, medical treatment or other different insurance sectors.

Swarnalika Vyas, Head of Life Insurance and Corporate Pensions at Zurich Insurance Middle East, said: The vision of the wise leadership to develop the UAE and establish a competitive knowledge-based economy lies in fostering innovation and capacity building. all levels. introduced a set of reforms that include Visa laws, insurance benefits and severance pay, to make the country more attractive to highly skilled workers and to retain them for the long term, in addition to Dubai working on issuing different types of visas to expatriates encourages to stay in Dubai after retirement.

In statements to Al Khaleej, Fiyas continued: UAE companies offer increasingly attractive benefits according to the highest international standards in the workplace to attract and retain talent. Zurich currently serves about two thousand companies and 120,000 employees in the region, but the need seems urgent to do more.One of the efforts to improve this reality, as a study showed that 6 out of 10 employees do not have life insurance from the employer, so they are exposed to major problems when they lose their income as a result of illness or inability to work due to partial disability, permanent disability or premature death; But we are constantly in touch with our partner employee benefits advisors to help HR teams ensure they can secure the financial future of their employees and enhance the benefits companies offer to become a better employer.

Swarnalika Vyas, Head of Life Insurance and Corporate Pensions at Zurich – Middle East, referred to a recent survey conducted by the company on employee benefits, which concluded that more than half of UAE employees in the past changed two years of employment, indicating the availability of jobs. Employment is promising, but more efforts are needed by employers to invest in their employees and improve the work environment to retain them.

Overcoming these concerns will highlight the importance of employers in managing employee benefits and securing their financial future, thus supporting talent retention strategies, and insurance companies playing a major role in raising companies’ awareness of the importance of providing job benefits and support them with innovative solutions designed for their employees with the aim of helping them secure their financial future.

talent center

Vias said: The presence of Zurich in the Middle East for three decades and its in-depth understanding of this market and its quest to build a better future for all have contributed to it playing an important role as a supplier and reliable partner for life insurance solutions for all companies and individuals, and within the framework of the efforts made by the State The UAE to become a global hub for talent, we will continue to educate and educate employers across the country about the best ways to support their employees and the economy in general by supporting the transformation of the UAE into a leading global talent center, and we will continue to educate employers on the best ways to help their employees in a way supported with insurance benefits to the benefit of the economy.


Surveys conducted by «Zurich» revealed that more than half of the employers in the sample had a separate end-of-service benefits fund, but 8 out of 10 of them struggle to pay salaries , which underlines the need for better and separate. management of end-of-service funds on working capital.

Together, these statistics confirmed that employers need to manage their end-of-service benefit funds separately from their working capital; The presence of a third party and partner to ensure the efficient management of bonus payments or end-of-service benefits ensures the mitigation of the risks of not being able to pay end-of-service benefits, and the employer’s commitment to legal and financial procedures is important to maintain a reliable reputation for the company, so these benefits provided by employers to employees help to make it an attractive and incubating company for talents and enable be to compete in the business field.


Vyas added: Amid the development seen by the UAE, more and more migrant workers are looking to work, invest and settle in the country for longer periods of time. The recent visa reforms are likely to reinforce this trend as the UAE becomes a global hub for talent.

The priorities of employees have recently changed, considering that employee benefits such as life insurance and pensions were not at the forefront of the priorities of expatriate employees in the UAE a few years ago, but after seeking stability for a longer period in which many think about their long-term financial future and the future of their families.

Vias pointed to the study conducted by “Zurich”, which showed that health insurance, which is a mandatory feature, is at the forefront of the benefits that employers offer to employees and is most common in the UAE, followed by flexible working hours and life insurance, and pensions ranked lowest among the list of benefits. Employee favorites in the study, which are attributed to a lack of awareness of the importance of these benefits, but financial health and wellness programs often mitigate the consequences of their lack.

The benefits that employees seek from employers are not just financial, as flexible working hours receive attention from employees, as well as mental health issues such as work-life balance and diversity and inclusion policies.

Although the government-led reforms have focused on improving workers’ rights in the UAE, the private sector must play its part in attracting the required skills and building a knowledge-based economy, and to achieve this, employers need a culture and work environment according to the highest international standards looking to the future.Improving Competitiveness To this end, employers need to establish a holistic thinking approach that delivers competitive advantages in the workplace that are in line with and possibly even exceed international standards.

life insurance

Vyas said: Life insurance is a way in which you can leave money to the people you care about in case of death, and it is a contract concluded between the policyholder and the insurance company in which the latter undertakes an amount of money in the event of the death of the insured to his heirs or beneficiaries he has chosen, and the owner is obliged The insurance policy in return for this by paying an amount of money either by monthly installments or in one payment. There are two basic types of life insurance, the first is term life insurance, in which the policyholder is covered during the validity period of the contract, and the insurance company pays the amount of cover to the beneficiaries if the life insured dies during the policy period, and the second type is life insurance For life, so that the insurance company pays the agreed amount to the beneficiaries in the event of the death of the policyholder, regardless of when it occurs, provided all premiums are paid.Zürich Insurance also offers group life insurance, a feature that provides insurance coverage against risks to employees and which is paid by the employer to the employee in the event of death or impotence.

strong position

Vias explained that Zurich operates in line with national regulatory guidelines and guidelines, enjoys a strong position and financial stability, and is committed to ensuring a transparent and continuously evolving business model to take advantage of the latest trends in the sector. Zurich offers a comprehensive range of innovative solutions to clients that include life insurance and savings and employee benefits for all phases of life, and we work closely with insurance brokers and banks and directly with clients, to build a comprehensive system of diverse offerings that we enables access to multiple distribution channels. .

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