Qatar Insurance launches new insurance service...

K.G. Venkat, CEO of Qatar Insurance in the UAE; Ali Al Fadala, senior deputy group president and CEO of QIC Group; and Frederik Bisbjerg, executive vice-president and head for group retail at Qatar Insurance.

Qatar Insurance Company has made available its personal insurance product for individual clients in the UAE along with online window-shopping platform for the same.
Established in 1964, the Qatari company is ranked among top 50 reinsurers worldwide. It reported its first half net profit of QR594 million.
"We've been doing personal insurance business for 47 years in the UAE through our corporate clients - and this experience has shown us that there's a gap in the personal insurance market," Ali Al Fadala, senior deputy group president and CEO of QIC Group, said at a news conference in Dubai.
Al Fadala believes Qatar Insurance will fix the gap with its direct approach to individual customers. The company is now making its personal insurance products directly available to the individual customers under the theme "Global Insurance - Local Assurance".
K.G. Venkat, CEO of Qatar Insurance in the UAE, says: "Qatar Insurance sees an opportunity to bridge the gap between the international insurers' offerings and the specialised local knowledge offered by the local insurers. We're certain that we know the local markets better than anybody and being a strong international player as well, we will be able to offer individual customers in the UAE something unique - unparalleled customer services of international standards coupled with detailed local knowledge."
The personal insurance market in the UAE is characterised by mainly two types of insurance companies," explained Frederik Bisbjerg, executive vice-president and head of group retail at Qatar Insurance. "Large international insurers headquartered outside the region and local insurers with strong local knowledge and presence - the large international insurers are very strong in providing customer service and having their business processes aligned to international standards, while the local insurers 'know the way around the Souq' and are able to provide customers with local knowledge and assistance."
The new online platform from QIC makes it possible for potential customers to do "window shopping" when browsing for the best insurance deals in the UAE - in less than a minute, and without disclosing any personal information at all, everyone can now have a personal insurance quote from QIC - and continue to buy insurance online, whether it's a transfer from another insurance company or a brand new policy purchase.
- abdulbasit@khaleejtimes.com