Dubai, UAE – Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant life and health insurer, has launched a new website, offering a modern and easy-to-use platform and a range of improved features designed to provide customers with an optimal user experience.
The revamped website benefits existing customers by allowing them to manage their insurance needs at a time and place that is convenient for them. The simple and modern platform provides better access to information to help customers make the most suitable decisions for their individual needs as well as real-time access to a fund’s performance and financial reporting tools. In the second half of the year, Takaful Emarat customers will be able to play an active role in managing their own policies online by adding or deactivating policy features as required and filing claims from a desktop or from the smartphone-enabled website. In this second phase of the website revamp, Takaful Emarat will also be able to offer potential customers instant life or health insurance quotes 24 hours a day, seven days a week.
The refreshed website, along with recently announced distribution agreements with RAK Bank and Emirates Islamic Bank, extends the Company’s access to a significant number of new customers by digitizing processes that have traditionally be limited to office opening hours or the availability of financial consultants. It also appeals to the United Arab Emirates’ population’s increasing inclination to transact using digital technology and responds to how the next generation is embracing technology in every aspect of their life.
Commenting on the launch of the new platform, Takaful Emarat ‘s Chief Executive Officer Wael Al-Sharif said: “The digitization of life and health insurance has great benefits for our existing customers who can manage their insurance needs at their own convenience and take a more proactive role in planning for their future. Increasing accessibility to information about suitable investments, savings and health and life plans through technology also helps the previously uninsured and lower-income consumers to take control of their finances and wider life plans. For our investors, the updated website provides essential information about the company’s performance and strategy, increasing our transparency to enable a more informed investment decision.”
Takaful Emarat has seen an increase in the number of customers visiting their website over the last year and sees this investment in technology, which is funded through the proceeds of its recent rights issue, as the next step in its innovation strategy and growth trajectory.
The website refresh will be delivered in two phases. The first phase focuses on offering customers easy access to product information and a new, modernized feel while the second phase, which is due to come online in the second half of 2016, will encourage customers to have a digital dialogue with Takaful Emarat by requesting insurance quotes and filing claims online.
From a corporate perspective, investors have a more transparent insight in to the company’s financial performance, with a comprehensive library of financial reports, up to date stock price, governance structure, details about the management, company strategy and business model underpinning its performance as a one of the fastest growing companies in the UAE’s takaful insurance sector.
The expansion of accessibility to insurance through technology supports the growth of the global takaful insurance market, which is expected to reach US$20 billion, up from current estimates of US$14 billion, according to research by EY. Demographics in the MENA region support insurance growth particularly in personal lines, which currently make up 16% of the market, compared with 56% globally, according to the Qatar Finance Centre.
Originally published on www.zawya.com