Gulf Insurance Group-Kuwait: A History of Firsts and a Booming ‘GIG’ Economy for Leader in Insurance

Gulf Insurance Group – Kuwait

Gulf Insurance Group-Kuwait (GIG-Kuwait) is the country’s largest insurance company in terms of gross written premiums and retained premiums in the life, health and auto insurance sectors, with a paid-up capital of KD18m ($58.4).

The group aims always to be the market leader and innovator in terms of innovation, technological services, and key strengths. Its flexible infrastructure has enabled 80 percent of its staff to operate remotely during the COVID-19 pandemic.

GIG-Kuwait is the first insurance company in the region to issue various insurance policies online, and to provide online health claims approval systems and services for the sale and renewal of policies through smartphone apps (iOS and Android).

It has a 24/7 Contact Centre and mobile apps to serve the biggest market share in Kuwait, focusing on advanced technology platforms. The company has been certified for BS 7799 / ISO 27001 in IT security since 2005, and upgraded to become the first company in the country to get ISO 27001:2013.

“GIG-Kuwait uses an advanced customer relationship system connected with social media and messaging platforms.”

GIG-Kuwait uses an advanced customer relationship system connected with social media and messaging platforms. It was the first insurance company in Kuwait to implement motor claim process using WhatsApp by having the customers send photos of damage. The company is currently implementing of the state-of-the-art core insurance application Beyontech and was the first insurance company in Kuwait to implement use of the Omnichannel digital form.

The Gulf Life Insurance Company was established at the end of 2007 as a subsidiary of Gulf Insurance Group. In 2014, Gulf Life Insurance Company changed its name to Gulf Insurance and Reinsurance Company. The licence was modified to practise health / life insurance and general insurance business.

“GIG-Kuwait offers a variety of products and services for various types of conventional insurance: automotive, marine, property, medical, life, travel and casualty.”

In 2017, GIRI transformed the brand name to Gulf Insurance Group-Kuwait. This change was in collaboration with all Gulf Insurance Group subsidiaries, for a unified and streamlined identity. As of December 2017, the company operates with paid-up capital of KD18m ($58.4), up from KD15m ($48.7) in 2016.

GIG-Kuwait offers a variety of products and services for various types of conventional insurance: automotive, marine, property, medical, life, travel and casualty.