Insurance in Abu Dhabi

Buy Home, Car, Health Insurance in Abu Dhabi: cost explosion through consumer protection

The Insurance has led to increased bureaucratic effort and thus higher costs for insurance companies in Abu Dhabi.

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With the amendment of the Insurance customers should have more transparency in insurance transactions. What uses this causes the costs of insurance companies to explode. Their expenses for sales, customer advice and administrative processes have risen sharply.

Dramatic cost increase

Almost every second decision maker complains about a considerable additional effort in customer service and significantly higher printing and postage expenses. Personal insurers in particular are experiencing a dramatic increase in costs. In addition, there is still some catching up to do when implementing the new legal regulations. In every third company, despite training, employees only partially master the processes that result from advisory duties.

– Liability, disability, legal protection?

There are many providers, but which policy is the right one?

More effort through more forms

In order to keep the schedule for the implementation of the legal innovations, two out of three insurance companies are content with manual solutions. In the case of the consultation protocol, simple forms are often used. The Insurance Hub agent often fills this in handwritten and not on the laptop, which increases the time required to process the application considerably. So that the changed regulations for the insurance industry do not become a red tape, providers are investing in more efficient processes, additional guidelines for the sales force and new consulting software.

The primary aim of insurance companies in 2012 is to slow down the rise in consulting and sales costs. Automation measures play a crucial role here and have already been initiated. For example, more than three quarters of decision-makers have already fully or largely standardized processes in order to increase efficiency, especially in growth strategies.

Insurance: Beware of cheap tariffs

In the struggle for customers, the trend is towards cheap secondary tariffs. Many insurance companies now offer second or third-party tariffs that are primarily aimed at price-sensitive customers. The policies are cheap, but motorists can often not expect much from the equipment.

A popular waiver of benefits is, for example, a lower liability coverage (50 instead of 100 million AED). The objection to gross negligence after an accident, for example due to a CD change while driving or fatigue at the wheel, is often part of the cheap policies.

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There are restrictions even with the insured auto parts; the protection of accessories is often poor. The new alloy wheels, for example, must then be insured separately. Even more: In terms of accident repairs or replacement value compensation in the hull area, the insurance companies also like to cancel.

Attention workshop binding

For example, anyone who signs a contract with a workshop tie can only have the car repaired by the insurance company’s partner company after a crash. With this policy, the customer saves on the annual premium, but at the same time he risks that the vehicle guarantee expires. It looks even worse with the replacement value item. If the car is stolen or suffers total damage in the accident, the customer is often only reimbursed for the new price in the first six months. On top of that, there is often a lack of so-called GAP coverage, which is particularly important for leased vehicles. After a complete loss, it closes the difference between the transfer value at the bank and the replacement value.

In all the points listed, many of the cheap secondary tariffs differ from the standard policies. Anyone who values comprehensive protection for their vehicle should therefore not resort to them. Even more: the savings effect is often out of proportion to the benefit curtailment. It is rare for the driver to save around 20 percent. Conversely, the following also applies: good contracts do not have to be expensive. That is why a comparison before choosing a contract is becoming increasingly important.

To meet this need, a number of insurance companies In Abu Dhabi, UAE have joined the fray to offer car, Home, Health insurance policies at competitive prices and inclusive of unique features such as :