Following several years of persisting soft market conditions, pricing and terms in the Middle East and North Africa (MENA) are turning in favour of the region’s reinsurers, according to an AM Best report.
The National Health Insurance Company – Daman has won two awards at the highly coveted Global Economic Awards 2021. The UAE’s leading health insurer was commended for its ongoing commitment to innovation, as well as its agile and comprehensive response to the COVID-19 pandemic, winning the Most Innovative Health Insurance Company and the Best New CEO in the Health Insurance Sector awards.
COVID-19 and its subsequent implications had led to less people and drivers on the road. As such, it’s been observed that during the pandemic, insurance claims have reduced significantly. With this, insurance companies have also adjusted prices accordingly to reflect lower accidents and repair claims.
In cooperation with the Department Of Health – Abu Dhabi, the National Health Insurance Company - Daman has launched its Lain Endaak (We’ll Reach You) mobile branch service. The new provision allows senior citizens and people of determination to access Daman services. With branch services typically offered in physical and virtual (Hayakom) branches, the mobile vehicle visits these customers by appointment to allow them to seamlessly manage their accounts and apply for new services from the comfort of their own homes.
Oman Insurance Company, UAE’s largest insurance provider, launched a new Straight Through buying Process for its term life insurance policies. In line with its ‘customer first’ strategy, the company partnered with Mashreq Bank and InsuranceMarket.ae by AFIA Insurance Brokerage Services to enable customers to protect themselves and their loved ones with a comprehensive plan within minutes.