Souqalmal.com, which launched its online end-to-end car insurance comparison platform across the UAE in June, has since become the “fastest growing” online retail car insurance portal in terms of sales.
The site claims to host the largest number of insurance providers offering consumers the biggest selection of online options in the UAE, including three Takaful providers.
During the first six weeks post the launch, Souqalmal.com reached $600,000 in total sales, indicating a strong appetite among UAE consumers for an independent online insurance portal.
While Fintech is well on its way to revolutionizing banking, the insurance sector is also seeing a dramatic change, led by consumers, which Souqalmal.com is capitalizing on.
Souqalmal.com’s car insurance portal launch followed the findings from a survey the team conducted, where an overwhelming percentage of respondents (90 percent) said they would consider an online platform to purchase their car insurance.
As a result, Souqalmal.com was quick to capitalize on those invaluable insights and was able to fast track the way car insurance is purchased in the UAE for consumers, resulting in its online car insurance sales gaining immediate and significant traction since launch,
Ambareen Musa, CEO of Souqalmal.com, commented: “I am very proud that Souqalmal.com has become the fastest growing online retail car insurance portal in terms of sales since its launch in June. Sales averaged a growth rate of 400 percent since the first week until now, with a very strong pipeline of inquiries.”
The Souqalmal.com car insurance platform is “fully secure and most importantly customer-centric," allowing users to get real time quotes in less than 60 seconds and have their policy issued to them in 60 minutes. Customers also have access to a UAE-based call center 7 days a week for any questions and support.
The site claims to host the largest number of insurance providers offering consumers the biggest selection of online options in the UAE, including three Takaful providers.
During the first six weeks post the launch, Souqalmal.com reached $600,000 in total sales, indicating a strong appetite among UAE consumers for an independent online insurance portal.
While Fintech is well on its way to revolutionizing banking, the insurance sector is also seeing a dramatic change, led by consumers, which Souqalmal.com is capitalizing on.
Souqalmal.com’s car insurance portal launch followed the findings from a survey the team conducted, where an overwhelming percentage of respondents (90 percent) said they would consider an online platform to purchase their car insurance.
As a result, Souqalmal.com was quick to capitalize on those invaluable insights and was able to fast track the way car insurance is purchased in the UAE for consumers, resulting in its online car insurance sales gaining immediate and significant traction since launch,
Ambareen Musa, CEO of Souqalmal.com, commented: “I am very proud that Souqalmal.com has become the fastest growing online retail car insurance portal in terms of sales since its launch in June. Sales averaged a growth rate of 400 percent since the first week until now, with a very strong pipeline of inquiries.”
The Souqalmal.com car insurance platform is “fully secure and most importantly customer-centric," allowing users to get real time quotes in less than 60 seconds and have their policy issued to them in 60 minutes. Customers also have access to a UAE-based call center 7 days a week for any questions and support.
