UAE: Auto insurance aggregator launched
Source: Middle East Insurance Review | Jul 2016
Comparison website company, Souqalmal, has launched its online end-to-end car insurance comparison platform across the UAE last month, coinciding with Ramadan when both car and auto insurance sales are at their peak.
This latest addition to Souqalmal’s portfolio follows the findings from a survey the team conducted specifically ahead of the launch, where an overwhelming percentage of respondents (90%) said they would consider an online platform to renew their car insurance.
“Considering the survey findings and our exponential growth in visits in the last year, it is a perfect time to launch our insurance aggregator platform. Consumers are actively asking for the ability to have their policies issued online and we are responding to this request. Insurance companies have welcomed us and have been very progressive in their thinking,” said Ms Ambareen Musa, CEO of Souqalmal.
The survey also revealed that 44.8% of respondents cited agency repairs as the most important factor to them when selecting an insurance policy, whilst only 20% chose price and a small 1.5% of respondents said they considered off-road cover important.