Global CEO Excellence Awards 2020

18 CEO MONTHLY / GLOBAL CEO EXCELLENCE AWARDS 2020 , Insurance CEO of the Year 2020 (UAE): Bilal Adhami Founded in 1976, Fidelity United has a long and proud history behind it. It is the owner of the eighth license number from the Insurance Authority. The last two years can be defined by the strong leadership of Bilal Adhami, as he has brought about change in the way the business works, the way it thinks and the way it operates. Mr. Adhami has brought with a great deal of experience, drawing on the various positions he has held. It gives him a unique perspective that he has used to his advantage. His career began with AXA as an Account Executive, allowing him to gain an insight into the complex world that is insurance operations and customer service. Over ten years, he managed to gain a leading role as Managing Director of AIG Saudi Arabia, building not only new skills and techniques, but also a practical knowledge of the MENA region. Having achieved success here, Mr. Adhami moved to the UAE where he joined a market leading insurance company, Oman Insurance Company. He was tasked with heading the local branches network, and also develop international business. He also spent some time as Head of the Commercial Lines, where his role overlooked the vital functionalities of account underwriting and analytical management. This starting point has allowed Mr. Adhami a diverse background FidelityUnited is one of the oldest insurance companies in theUAE, but keeping an old company fit for purpose requires someone of vision to guide it into the next stage. Bilal Adhami is the right man for the job, and has been recognized in this year’s Global CEOExcellence Awards.We take a closer look at bothMr Adhami and the historic firmto see howhe has taken it in hand and brought it into the 21st Century. that he has been able to utilize as CEO of Fidelity United. Mr. Adhami was entrusted with this position because the Shareholders and Board of Directors required someone who could transform the way in which the company worked. It had spent much time in the red, and needed to move to growth that was not only profitable, but sustainable. In just two years, he has achieved all of this and more, creating a name for Fidelity United in the market, pushing it amongst its peers and bringing about the highest revenue growth on the market. It’s a truly astonishing transformation that has made the company into one of the region’s success stories. Much of the company’s recent success has come fromMr. Adhami’s decision to promote a new way of thinking for those in the company. The project is called FTR (First Time Right), and the aim is to push the whole team to do any task correctly the first time. For a company with a long history like Fidelity United, change of this sort must be embedded in the structure, and Mr. Adhami has taken great pains to ensure that every employee has it at the heart of their work. Oversight, to ensure that every project is completed successfully, is also one of Mr. Adhami’s innovations, with his newly implemented Project Management department overlooking each and every project that is initiated at the company. The team design the processes that must be followed to ensure that every project reaches a successful delivery. This practical approach has been an immense benefit to the team, allowing them to make new and exciting achievements on behalf of the business. One of the other ways in which Mr. Adhami has been able to transform the fortunes of Fidelity United has been through empowering the management team to make decisions on their own. With accountability such a major part of Mr. Adhami’s approach, he has designed a detailed chart that gives each employee a place and an awareness of what they must deliver. This has allowed members of teams to fully engage with the company at large, with multiple forums and committees put in place to discuss the details of the business and what changes could improve results. Thanks to these changes in operation, Fidelity United is now achieving impressive results. The team are more strategic in the functions, and as roles have become more defined, employees have been able to take more pride in their jobs. An example of this approach can be seen through Mr. Adhami’s use of “Market Underwriters”. This role was introduced in order to provide quicker service to the company’s brokers and has enabled those with great skill and technical talent to close business that has been brought in more swiftly than before. Working alongside the required underwriting authorities, it’s another example of how a clearly defined and motivated team can provide exceptional work. On the brokers’ side, the service is trustworthy and excellent, and on the company’s side, a happy customer is the end of a successful task. When Mr. Adhami arrived at Fidelity United, the UAE was becoming more of a strategic place for businesses to move to, and this has resulted in an increasingly competitive market. Every aspect of insurance faces its own trials, and the crowded market means that it is only getting more difficult to stand out. While Fidelity United has a rich history of success behind it, building on this past and ensuring a long-term future was no easy feat. To ensure that the company could thrive for years to come, Mr. Adhami has had to revamp the business model entirely, transforming it into a totally different entity. The results speak for themselves, with increased trust from partners and clients who have allowed the team to grow on an average of 80% year over year. The approach that Mr. Adhami has adopted to handle these challenging circumstances is one of agile leadership, namely setting a goal and enabling the team to deliver it as best as possible. He takes a macro vision of the company and ensures that everyone else is engaged in Jun20105