GN Focus report
As a leading player in the insurance sector, could you give us an idea on your range of operations and specialisations?
As a doctor, my vision has always been to serve people and offer an exceptional service in the healthcare industry. During my medical practice in the UAE in the early 1990s, I witnessed the difficulties faced by people in the low-income segment in accessing healthcare; so I started a healthcare initiative to help blue collar workers. By engaging with the UAE government, insurance companies, and leveraging my global network of healthcare providers, we embarked on a mission to make quality healthcare accessible to blue collar workers in the UAE. It underscores the core belief that healthcare is a fundamental right and not a privilege, paving the way for the implementation of the mandatory medical insurance in the UAE. This development culminated in establishing FMC Network UAE, a medical insurance third-party administrator for medical claims management and administration. FMC is an independent company that works with multiple health insurance companies to facilitate their claims adjudication, processing, and settlement. We started with 65 medical service providers, and today, we have over 4,000 medical providers empanelled in our network.
What new initiatives have you taken to increase adoption of health insurance in the UAE?
FMC had been communicating with the health authorities in the Northern Emirates to implement compulsory insurance. We will be sharing our expertise and data to implement the scheme. Our wish is to associate with government institutions and insurance companies to work and achieve the goal of implementing compulsory medical insurance in the UAE.
What were the key highlights of your business in 2023?
Last year, we focused on institutional growth, technological innovation, and identified new markets for expansion of health insurance assuring business scalability. The last 12 months have been an incredible ride marked by exceptional accomplishments. We received two prestigious awards from Shaikh Nahyan Bin Mubarak Al Nahyan, Minister of Tolerance and Co-existence, at the Health Annual Awards 2023 and I have received the Icon of the UAE Awards 2023 by India Today from Shashi Tharoor, former Under-Secretary-General of the United Nations.
What are your plans for 2024 and beyond?
FMC has identified 21 countries worldwide to expand the concept of cost-effective, comprehensive healthcare for all.