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2007 Archives
2006 Archives
2005 Archives
Third
Party Administration Services (TPA)
WMIC, in association with Health Plan Ltd. – an Apollo
Group Company, India has established Third Party
Administration Services Company (TPA) for Health
Insurance. The name of the Company is WAPMED TPA
Services Co. The Company will provide cashless medical
facilities in Kuwait. Apollo Group is the largest
integrated healthcare company in Asia.
Some of the prominent benefits and facilities available
to our clients due to TPA Services are:
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Single point of contact for any queries .
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Emergency handling.
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Offer cashless services in network hospitals .
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Repatriation of the patient if required to any other
country listed before International Assistance Group IAG.
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Member help line for emergency & critical cases.
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Hassle free admission at the network hospitals .
From the Health Expo 2006
General Manager with Warba
Insurance Co’s staff at the booth in Health
Expo.
Dr. Ahmad Al Shatti, health
information dept manager in the Ministry of Health,
opens the Expo.
Dr. Ahmad Al Shatti at
Warba Takaful Medical Insurance Co. as it is one of the main
sponsors.
Dr. Ahmad Al Shatti with
WMIC’s Staff.
WMIC enters
into strategic alliance with AIG
Warba Takaful Insurance Co.
represented by its General Manager Mr. Dawoud Salem
Tawfeeq signed a personal
accident reinsurance agreement with one of the leading
American insurance companies in the world, AIG – Alico
General Insurance Division , represented by their Kuwait
Branch manager Mr. Jean-Pierre Assaf.
Mr. Dawoud Tawfeeq, the General Manager of WMIC seemed
confident and opined that including this policy along
with other insurance services would be of great benefit
to the current and future clients, specially with its
competitive prices .
He quoted “We are planning to present the Personal
Accident Policy to the market at the beginning of 2006
.”
Forum of Health Reform honors Warba Takaful Insurance Co.
Under the auspicious presence and sponsorship of the
Minister of Communication and Minister of Health, Sheikh
Ahmad Al Abdullah, the Health Reform Forum was
inaugurated at Sheraton Hotel during the period 14-16
Nov. 2005.
Placing the public interest in its top priority, Warba
Insurance Co. leads the Kuwaiti market in
creating and 
enhancing the insurance awareness among the
Kuwaiti Society. On behalf of the Ministry of Health,
the Minster Sheikh Al Abdullah honored and appreciated
Warba Takaful Insurance Co., represented by Mr. Dawoud
S. Tawfeeq, the General Manager, by presenting a shield
at the ceremony for its effective role and remarkable
contribution to Kuwait’s insurance market.
It is worth mentioning that Warba Takaful Insurance Co.
was one of the main sponsors of the Health Reform Forum
. The General Manager, Mr. Dawoud S. Tawfeeq expressed
his high esteem and appreciation for the efforts of MOH
in organizing and coordinating with the Insurance
Companies for the Health Insurance Scheme and related
facilities extended to smoothen the work flow
procedures. He added that it was great pleasure for
being recognized and honored.
The press Release of the General Manager , Mr. Dawoud S.
Tawfeeq to ALAnba Newspaper in Nov. 2005
In special press release to
Al Anba Newspaper , the General Manager, Mr. Dawoud
Tawfeeq unveiled the profits achieved by the Company
during the past nine months, estimated at KD 900,000 .
He also added that the total premiums collected by the
company until 30 Sept. 2005 was about KD 2.5 Million and
the total premiums since foundation in May 2004 is
about
KD 5.5Million , comprising a huge base of 300 thousand
policy subscribers from 300 companies.
Mr. Dawoud Tawfeeq announced that the company is about
to introduce the Personal accidents Scheme to the
insurance market with competitive prices and benefits in
coordination with one of the leading American companies,
AIG.
The Company is also planning to launch a new project
under the name of (Al-Noor Plan) focused at the Kuwaiti
insurance market in terms of quality and service . The
ladies who would avail the scheme will benefit a special
discount up to 20% in all the hospitals and specialized
clinics that have entered into contract with Warba
Insurance Co. Mr. Dawoud expects about 90% of
the Specialized Medical Sector to contribute to the
contracts under this program. He added that the discount
can be availed in all the contributing medical Centers
and covers all the Governorates of Kuwait.
The company recently received offers by many investment
Establishments to invest in their organizations is
another latest development. The decision from the Board
of Directors shall be in accordance with the extent of
credibility and seriousness projected by the offers.
After a detailed study, the selection of an appropriate
offer that would enhance the company’s growth will be
made.
The above mentioned efforts of the company came in
parallel with the Government showing interest in
developing Health insurance in the State of Kuwait and
to be part of the march for enriching the Society with
the returns of this Sector.
In addition to the ability of the proposing companies to
respond to the requirements of the local and Foreign
Insurance market, keeping in mind that Warba Insurance Co. is planning to be enlisted in Kuwait Stock
Market. The expansion of the company’s work is not
restricted to such listing but there are well-elaborated
policies followed by the company to launch its services
to the foreign markets, starting with the Gulf region as
a first stage and then to the Arabian markets.
Mr. Dawoud Tawfeeq continued that the above schemes and
planned policies which along with Wraba Insurance Co. entered into the local market of health
insurance, shall not expose the company to any financial
catastrophe, since an adequate and high percentage
reserve to confront any crisis resulting from new trends
in the insurance market was made in advance from
accurate accounting measures.
To improve computerization and achieve more development,
Mr. Dawoud announced that WMIC signed a contract with
Strategic Technologies and Solutions company for
enhancing the computer software. This would enable the
company to benefit from a strong and secure computer
system .
Incidentally WMIC aims to attract several International
companies to support its financial and insurance market
placing it in the leading position together with the
specialized companies. Its notable that it signed a
contract with Apollo Group, a leading TPA Company to
strengthen Warba Takaful Insurance Co. with its
significant support.
Warba Takaful Insurance Co. is a strategic Partner with
an International Company to Manage Insurance works which
starts its business in Kuwait in preparation to launch
Warba Takaful Insurance Co. to the Arab and Regional
markets.
Mr. Dawoud also said that Warba Takaful Insurance Co.
has been involved in the share market, purchasing shares
of certain real estate companies in the Kuwait market
shall certainly contribute to its investment portfolios.
It is worth mentioning that Warba Takaful Insurance Co.
is a closed Kuwaiti shareholding company in which Warba
Insurance Co, the parent company contributes to 96% of
the capital being KD One million, and the remaining
shares are equally distributed to the sister companies.
Its notable that since the foundation, the company
exceeded its premium collection by about 5 folds of the
capital.
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