May 18, 2020

Report: Middle East Chemical Industry to be Fastest Growing in World to 2020

Leadership
reports
Finance
construction
Bizclik Editor
1 min
Report: Middle East Chemical Industry to be Fastest Growing in World to 2020

The region’s chemical industry will be the fastest growing in the world until at least 2020, according to a report by Frost & Sullivan.

Investments exceeding $770 billion are forecast for the period 2011-2020, with 50 percent of this predicted to be in the GCC countries with much of the rest going into Iraq and Iran. Further to this, oil and gas industries will account for almost two thirds of this chemical investment.

According to Frost & Sullivan, the Middle East chemical industry, estimated to be worth $160 billion in 2013, is projected to grow at a faster pace than the global growth from 2013 to 2020.

Aparajith Balan, Program Manager, Chemicals and Materials, Middle East and North Africa, Frost & Sullivan, said: “Middle East, particularly the GCC is diversifying into the production of value added chemicals, extending beyond its traditional forte of bulk chemicals and petrochemicals.

“Large projects are underway for the production of specialty chemicals, including performance polymers, specialty chemicals and intermediates.”

Much of the demand for chemicals will come from the burgeoning construction sector, overseeing many huge building projects across the region in the lead up to the World Expo 2020.

Products like paints and coatings, concrete admixtures, flooring compounds, waterproofing compounds, and adhesives and sealants are all in big demand. 

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Jun 14, 2021

5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly

Tapoly
Insurance
Leadership
Digital
Kate Birch
3 min
Heading up Europe’s first on-demand insurance platform for the gig economy, Janthana Kaenprakhamroy is winning awards and leading with diversity

Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.

Here, Business Chief talks to Janthana about her leadership style and skills. 

What do you do, in a nutshell?

I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.

How would you describe your leadership style?

I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.

What’s the best leadership advice you’ve received?

Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.

How do you see leadership changing in a COVID world?

I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.

They say ‘from every crisis comes opportunity’, what opportunities do you see?

The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless. 

What advice would you give to your younger self just starting out in the industry?

Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.

 

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