Insurance is innovating its offers
Insurance companies are launching new products and revamping existing ones. The motor and health insurance lines are witnessing major changes. Pet insurance is one of the newest products on the scene.
CAR CARE
Some insurers are introducing new services to their motor insurance policies. Vehicle insurance attracted $381 million in gross written premiums in 2018, according to the Insurance Control Commission (ICC). AXA Middle East introduced hail, Chief Operating Officer at AXA Middle East. ADIR insurance already includes hail storm coverage in its motor insurance policies. The company responded to 40 motor claims when Storm Norma hit the capital on October 25, 2018. Only a few companies provide this coverage in their policies, according to , CEO of ADIR Insurance. AXA, which achieved written premiums of $17.4 million gross through their motor insurance business in 2018, will also launch a new product this year. The product comes with a preventative concept, according to Nasnas. The policy holder will have a free one-day driving course that covers emergency training and driving techniques in critical situations and more. The company also provides the policy holder with a taxi towing service in case of accident along with other benefits.
