AXA Green Crescent insurance company signs partnership agreement with yallacompare

AXA GCIC was created in 2014 to offer life protection and savings plans to individuals and corporates and businesses in the UAE and the GCC

  

AXA Green Crescent Insurance CompanyP.J.S.C. (GCIC) has formed a first-of-its-kind partnership with yallacompare, the Middle East’s leading financial comparison platform. AXA GCIC was created in 2014 to offer life protection and savings plans to individuals and corporates and businesses in the UAE and the GCC.

With an aim of making life insurance more accessible to people, for the first time ever, customers in the UAE will be able to buy a range of life insurance products via an online financial aggregator. Furthermore, the purchase journey will now be fully digital with customers being able to obtain their policies in just five minutes through any device of their choice.

Commenting on the partnership, Mohamed Seghir, Chief Executive Officer of AXA GCIC, said; “We are delighted to partner with yallacompare, who share our passion for delivering innovative solutions. The insurance market is growing at a rapid pace in the region, however, many insurance products such as life insurance are still perceived as a luxury as opposed to a necessity. Consequently, we wanted to make life insurance more accessible and further raise awareness of the various types of covers available for UAE residents. We are sure this partnership with yallacompare will help extend our reach in the market.

“Furthermore, in an effort to drive the concept of transparency and simplicity in the insurance industry, we have ensured that the charges are clearly written down in black and white and shared with our customers in simple language with no hidden fees.”

The products available through the yallacompare platform are Simple Life (a yearly term life product), Hospital Cash (provides a cash payment and medical reimbursement in the event of hospitalisation) and Sponsor Protect (provides a cash payment in the event a domestic helper fails their medical or absconds). An innovative solution to protect customers against financial liabilities is also due to be launched in the first half of 2020.

Jonathan Rawling, Chief Financial Officer of yallacompare, said; “At yallacompare, we have been very pleased to see that consumers are becoming increasingly aware that thinking about insurance means more than just making sure their car is protected. Life insurance should be on everybody's mind and we are delighted to have been selected by AXA GCIC to launch this initial suite of products. Adding these products and adding AXA GCIC to our existing panel of insurers aligns very closely with our vision of being a one-stop-shop for consumers to meet their financial needs.”

AXA GCIC’s life insurance products are fully validated by the Insurance Authority and are in line with the forthcoming life insurance regulations due to be introduced in 2020.

For more details on AXA GCIC’s product offerings, please visit https://www.axa.ae/en/axa-greencrescent 

Send us your press releases to pressrelease.zawya@refinitiv.com 

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases