There were more than 400,000 new cars sold in the UAE last year, clocking a year-on-year growth of over 5 percent (from 2014). Latest statistics released by RTA show that Dubai alone has about 1.5 million cars registered in the Emirate. And with car insurance being mandatory in the UAE, the potential for growth in the car insurance market is immense.
To help insurance companies unlock the digital distribution channel, and get the most out of it, Souqalmal.com has rolled out its car insurance e-commerce platform becoming the largest car insurance aggregator in the UAE. The platform will allow users to compare car insurance plans from five companies, get quotes in less than 60 seconds, and complete their purchase within a few minutes to have their policy emailed to them within an hour.
According to a recent survey by Souqalmal.com, 90 percent of respondents in the UAE would consider renewing their car insurance policy online, indicating that the market is ready for digital disruption.
Souqalmal.com is perfectly positioned to introduce a digital distribution channel for insurance providers. With over four years of helping companies distribute financial and insurance products in the UAE, and being named ‘Online Business of the Year – 2015’, Souqalmal.com has established itself as a trusted digital distribution channel for its partners.
Currently, the site lets users compare car insurance quotes from five different providers in the UAE – Oman Insurance, Noor Takaful, Union Insurance, Qatar Insurance Company and Aman Insurance, with several other providers in the process of being integrated as well. Subsequently, the policy can be bought either online through a secure payment gateway or over the phone through Souqalmal.com’s helpline which is active all seven days of the week.
Also, to celebrate this launch, users who purchase their policy from Souqalmal.com will receive a travel voucher of up to AED 500 from TravelStart (T&Cs apply)
Looking for a car to buy? Browse through car deals in the UAE or book a test drive today.
According to Ambareen Musa, CEO and founder of Souqalmal.com:
“What makes our car insurance portal attractive for users, is that they can not only save money by comparing quotes from multiple providers, but also find the right cover to suit their specific requirements, all in one place. With this, Souqalmal.com allows users to not just compare comprehensive insurance plans based on price, but on the coverage and actual value too.”
Souqalmal.com also understands that buying car insurance can be complicated for many people especially if one isn’t aware of what standard industry terms like deductible, collision coverage, no claims discount and depreciation, actually entail.
So, to educate users and enhance overall customer experience, the site also has a dedicated section on its blog which provides easily accessible information in the form of guides, terms and definitions, rules and regulations, frequently asked questions and expert insights, along with the latest trends and everything they would need to know before purchasing a car insurance policy.
So, if you’re looking for an easy and convenient way to get your car insurance policy online and instantly, click here to get started.