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Nasser Al Misnad

(CEO – Damaan Islamic Insurance Company Beema)

Qatar is booming and we are
expecting growth and profitability

during 2022

Having graduated from the University of South Wales, UK, with a
degree in business management, Nasser Al Misnad began his career
with Qatar Insurance Company. There, he assumed key positions over the
span of 11 years within various departments including retail, property and
risks, marine, and motor claims. Eventually he worked his way up to being
CEO of Beema, one of Qatar’s top sharia-compliant insurance providers.
Believing that customer services must always remain at the forefront of its
focus, Beema continuously works to come out with innovative products
and services for its customers and has always believed in the digitalization of the business, even before the pandemic. Al
Misnad has always believed that a fair competition is a must to get the best out of companies, as it forces them to think
out of the box. Al Bayan Magazine conducted an interview with Al Misnad on the occasion of its annual publication and
below is the Q & A.

* What is your evaluation of the insurance sector in Qatar during the of the customers barring millennials were keen on face to
year 2021? What do you think about the new compulsory health face contact for transacting business. However pandemic
insurance and its impact on the sector? created an opportunity to implement our long term vision of
digital transformation. We closed all the branches in the
- Most of the Insurers are seeing a energetic growth in their country and started promoting our online and tele sales and
top line and as well as the bottom line. With the State of payment of contribution by payment link, renewing a policy
Qatar controlling the Pandemic very efficiently the life is or lodging a claim through whatsapp or a simple phone call.
returning to normalcy and so is the business. Adding to that
with FIFA world cup just an year away, Qatar is booming * What are your most achievements and results achieved during
and so we expect this would have effect on Insurance sec- the pandemic?
tor growth as well.
On the new compulsory Health Insurance, it was long - Beema were servicing their clients seamlessly during the
awaited from the Government. Government is providing pandemic while strictly complying with the Government
high quality health care to all residents free/subsidized. I advised Covid protocols. While the we some a marginal
believe with the introduction of mandatory health insur- drop in the top line but our bottom line improved during the
ance, it will reduce the burden on the Government and also year of pandemic.
open the of Private healthcare providers to all residents
including blue collored. I am sure all the Insurance We are expecting to be listed in QSE in 2022
companies must be preparing themselves to be ready to
swing into action once the Government makes the * What is your prominent plans and aspirations for the year 2022?
announcement.
- We are happy the country is limiping back to normalcy
Covid-19 created an opportunity to implement our while keeping a vigil on the pandemic. Definitely with Fifa
long term vision of digital transformation World Cup due in 2022, we are as excited as any other
industry in the country. We are expecting a growth in the
* Digital transformation has become a necessity, and there is no business and profitability. The biggest take away for next
doubt that Covid-19 pandemic has made it even more faster, What year is the we are pleased to announce that Beema’s
Beema had made in this regard? Board has approved to take the Company to public and we
are expecting to be listed in QSE in 2022.
- Beema initiated Digital much before the pandemic, but it
was difficult to implement mainly due the fact that majority 558

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