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The company, rebranded as Dubai Insurance, is entering a new phase.
Regarding the rebranding exercise, Abdellatif Abuqurah, General Manager, Dubai Insurance says "We are adopting a more modern approach in delivering our services and products while focusing on increasing our market share. We will be introducing new alternative and more customised products with global standards for the UAE market. Meanwhile, we will be committed to provide innovative risk solutions and best claim services to our policy holders as well."
An important part of Dubai Insurance's expansion plan is its niche products and introduction of different types of insurances that are being offered in the region for the first time.
Dubai Insurance appointed David Avasthi as its Head of Financial Products with a mandate to reduce financial risks inherent in infrastructural projects, as well as increase the efficiency in the use of corporate liquidity in the region.
The financial products will have direct applications in enhancing creditworthiness of real-estate developments and other project loans; guaranteeing residual values of machinery and equipment being financed or leased; and also insuring investors against unilateral abrogation of agreements by foreign government and private entities through political risk and export credit policies.
The rebranding has also marked Dubai Insurance signing a partnership with William Russell — a UK-based company with over 15 years of experience in looking after insurance needs of expatriates around the world. The new partnership has also resulted in the launch of three exclusive insurance plans — international health, life and income protection plans.
"We wish to establish high quality customer service standards in the Middle East with the launch of world-class expatriates' insurance plans. The new products include the GlobalHealth — expatriate health insurance plans, GlobalLife — life insurance protection for individuals, and GlobalIncome Protection — a regular income plan if an expatriate is unable to work due to illness or injury", explained Adrian Shaw, European and Middle East Sales Manager, William Russell while elaborating on the new plans.
The new insurance plans will be underwritten by Dubai Insurance Company and will be administered by William Russell.
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