Startup MGZN – What you need to know about the Insurtech industry with UAE-based Hala Insurance

Startup MGZN – What you need to know about the Insurtech industry with UAE-based Hala Insurance

Technology is catching up with every existing industry known to us and with the insurgence of new solutions to make things smarter and easier, we come to find there’s more to learn and integrate within our society to ensure inclusive progress and advancement.

Now, insurance isn’t exactly the fun topic you bring up at gatherings with your friends or family, we get it. It’s definitely thought of as necessary evil by the masses. But the technological revolution has wound its way to the insurance industry and led to the birth of Insurtech. Companies are harnessing AI and other disruptive technologies to transform how people interact with most things, and now, insurance. It’s about making things work for you! 

Insurance services are adopting a digital-first approach, similar to other common financial services like banking and trade. People can do everything online now, from getting a quote for a house or auto insurance to purchasing a policy and filing a claim. We love how quick and easy tech makes everything.

Walid Daniel Dib, CEO and Co-Founder of UAE-based Hala Insurance, stated: “We offer car and home insurance for the 21st century. That means better coverage, faster service and a digital platform where you can buy policies and submit claims on the go. Our policies are underwritten by Emirates Insurance Company, one of the largest insurers in the UAE.” 

But surely, with the rise of technology in certain fields like insurance, there are expectations to fulfill and hopefully, exceed.

Today’s consumers are looking for top-quality customer experience when it comes to their insurance, which is unsurprising, given that one of the most important trends you see in any online service, let alone the insurance industry, is personalisation

The Insurtech space is mobilising customer data to deliver tailored insurance products and premiums. There is a significant interest in usage-based coverage; some car insurers are charging customers based on the distance they drive, giving way to more flexibility and in turn, lower premiums. These trends are likely to evolve as semi-autonomous and shared mobility grows in popularity with commuters. 

Alongside personalisation, Hala offers their customers the option of self-service. Dib said, “We’re seeing companies adopting more and more digital tools that put customers in the driving seat of their insurance journey. Gone are the days of standing in long queues at the nearest branch of your insurer, waiting to speak to customer support or a sales agent.” 

He further added, “Today’s tech-savvy customers can generate an insurance quote by themselves, buy or renew their policy from the comfort of their home and submit claims on the go, adding another layer of convenience to the insurance process.” 

And isn’t that what we’re looking for online? Convenience and quality, hand in hand? That’s what Hala Insurance is all about! The only Insurtech agency in the UAE to provide end-to-end support during the customer’s entire insurance journey,  Hala handles everything from the quote journey to policy issuance, digital claims and after-sales customer support, providing a holistic experience to customers. Sign. Us. Up! 

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One of the key technologies that is driving the Insurtech space is: Big Data. Hala deploys data to understand customer preferences better and in turn, customize the onboarding journey on their platform. Insurtechs are also using APIs to facilitate a digitally-integrated ecosystem where customers can easily access these services. 

The future of the Insurtech industry is in constant progress, and Hala is elevating the customer experience with radical streamlining of the usual insurance processes. 

“It now takes a policyholder less than two minutes to submit a car insurance claim on our website. Customers are instantly allocated their preferred garage, allowing them to take their car for repairs on that same day. We’re prioritising the needs of today’s busy, mobile customers by providing them an integrated, omnichannel experience,“ shared Dib.

The seamless blend of Hala’s online and offline channels guarantees customers getting a quote on the website, talking to customer support over the phone to learn more about their benefits, and sharing the necessary documents over WhatsApp to purchase their policy. As if that’s not enough, they also offer an unprecedented 91% fast-track approval on car repairs  to expedite the usual claims process. 

You can become one of their satisfied customers as well! Visit Hala Insurance on their website, or follow them on Instagram to stay updated on their latest announcements and services. Let us know what you think, get in touch with us on our social media platforms through Instagram, Twitter, Facebook, and LinkedIn. We’d love to hear from you!

Maryam Malik

Maryam is the Content Manager at Matter in Hand with a praiseable knowledge of books and a love for all things regarding poetry, music and fast food. Oh, and she’s a Ravenclaw.

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