Latest news with #Policybazaar.ae
Time of India
7 hours ago
- Time of India
Why more UAE residents are buying travel insurance, even when visiting home
Travel insurance premiums in the UAE have jumped 12% to 18% as more residents insure even familiar trips this summer. With summer holidays around the corner and schools on break, UAE residents are gearing up for vacations, many of them heading to their home countries. But what's different this year is the growing number of people purchasing travel insurance, even for destinations that feel familiar. This trend was highlighted in a recent Khaleej Times report on changing travel insurance habits among UAE residents. Industry experts say this rising trend is driven by a mix of practical concerns and evolving travel patterns. Hitesh Motwani, Deputy CEO at said there's a significant shift in how UAE travellers view insurance when heading abroad. 'There is a noticeable trend of UAE residents purchasing travel insurance even when travelling to their home countries,' he said. 'This shift is driven by increased awareness of potential risks such as medical emergencies, travel disruptions, or baggage issues that can occur regardless of familiarity with the destination. The affordability of travel insurance also contributes to its growing adoption among travellers seeking comprehensive protection during their trips.' Toshita Chauhan, business head of general insurance at confirmed that more expats are now insuring trips home during high-traffic periods like summer, Eid, and school breaks. 'Yes, we've definitely seen that shift. More and more UAE expats are buying travel insurance when flying back home for holidays — especially during summer, Eid, or school breaks,' she said. 'Even if they're going somewhere familiar, many realise that medical expenses or flight delays aren't always easy to manage. The ease of comparing policies online and the affordability of plans has made it a convenient decision for most.' Premiums are rising: Here's what's behind It Travel insurance is becoming more common, and more expensive. As summer travel picks up, insurance premiums in the UAE have risen by 12% to 18% year-on-year, According to figures shared by industry executives with Khaleej Times, the increase reflects global medical cost pressures and growing claims activity. Toshita Chauhan explained that this increase translates to a difference of AED 15 (approx. $4.08) to AED 70 per policy, depending on the travel duration, destination, and the traveller's age. 'The primary factors behind this increase include rising global medical costs and increased claims from travellers bound for Europe, particularly Schengen countries, largely due to hospitalisation and lost baggage.' She noted. She added that France, Spain, and Italy have topped the list of destinations where UAE travellers request help with medical emergencies. In contrast, tropical vacation spots like Thailand, Bali, and the Maldives have seen more flight cancellations, mostly due to weather-related disruptions. Travellers heading to the UK and US also face higher medical costs, which has added to the upward pressure on insurance premiums. So far this year, the most common claims filed by UAE travellers are for missed flights and delayed baggage. Who's paying the most? Not all travellers are affected equally by these price hikes. Those aged 60 and above have seen the largest premium increases, between 25% and 30%. Meanwhile, people purchasing coverage for adventure sports are facing the steepest rise overall, with premiums up by as much as 40% compared to standard plans. Even frequent travellers are feeling the change. According to Chauhan: 'Multi-trip annual policies have also become more expensive, with prices increasing by more than 15% due to evolving claims trends and longer average travel times.' She told Khaleej Times. A word of caution for high-risk destinations Travellers heading to conflict zones or politically unstable regions, such as Syria, should exercise extra caution when choosing travel insurance. Syria is considered a high-risk destination, and coverage is usually limited or outright excluded by most insurers. 'Many insurers exclude war-prone countries from their standard policies, making it challenging to obtain comprehensive coverage for travel to Syria,' said Hitesh Motwani. 'As a result, most travellers to Syria may not purchase travel insurance, either due to limited availability or the perception that coverage won't be applicable. For those seeking insurance, specialized policies with higher premiums and restricted benefits may be available through select providers, but these are exceptions rather than the norm.' Toshita Chauhan agreed that some travellers still try to get coverage for Syria, mainly for medical emergencies, trip delays, or baggage loss, but warned that exclusions are often buried in the fine print. 'Importantly, most travel insurance policies explicitly exclude coverage for war zones, areas under conflict, or destinations marked as high-risk by government advisories,' she said. 'Before purchasing a policy, travellers should confirm if Syria is included in the policy's coverage region. Due to the complex risk profile, travellers are strongly advised to proceed with extreme caution and ensure they have complete clarity on coverage terms before making the trip.'
Mid East Info
19-05-2025
- Automotive
- Mid East Info
Policybazaar.ae Rolls Out Exclusive Car Insurance Perks Under PB Advantage - Middle East Business News and Information
the UAE's leading online insurance marketplace, has expanded its flagship initiative PB Advantage to car insurance customers, redefining the way UAE residents experience motor coverage and car insurance claims. believes that car insurance should be more than just a policy — it should be a promise of speed, ease, and trust when you need it most. We are transforming the claims experience in the UAE by offering a one-of-a-kind, seamless, and customer-first approach that gets you back on the road with minimal hassle. From free car washes and flat-rate savings on servicing and repairs to special discounts on the Registration Readiness Package, these benefits are designed to enhance the everyday car ownership experience. Valid until May 31, these exclusive offers are made possible through their partnerships with leading insurers and service providers across the UAE that will deliver real-world value to our customers. In collaboration with leading partners, is redefining traditional insurance by enabling a smarter and more rewarding car ownership experience. The initiative is designed to help customers lower their car-related expenses and remain well-protected with some of the best car insurance plans available in the UAE, while ensuring a high standard of customer satisfaction and full compliance with regulatory requirements. With customers can benefit from fast-track claims processing, access to a nationwide garage network, a dedicated claims concierge service, and smart digital tracking with priority repairs. Through PB Advantage, customers can now enjoy 12 free car washes, up to a 30% discount for safe driving, an excess waiver of up to AED 1,000, a 15% discount on car repairs, a 30% discount on car servicing, and 50% off on the Registration Readiness Package. Neeraj Gupta, CEO of said: 'We're proud to expand PB Advantage to our car insurance customers. Buying car insurance shouldn't just be about paperwork and price — it should come with real, tangible value. These benefits make sure that once the policy is bought, the customer keeps winning throughout the year. From savings on car service to free washes, we're driving value where it matters most — behind the wheel.' Toshita Chauhan, Business Head – Motor Insurance at added, 'Motor insurance is often seen as a mandatory purchase, but we wanted to flip that narrative. With PB Advantage, we've built a value-first ecosystem where every customer — from a daily commuter to a weekend road-tripper — gets rewarded for making responsible choices. Whether it's safe driving discounts or after-policy care like servicing perks, we're here to make car ownership smarter and more rewarding.' This move follows the successful rollout of PB Advantage for health insurance customers, a program that introduced Auto Recharge, No Claim Bonuses, and 30-minute claim desk support — setting a new benchmark in insurance experience. PB Advantage for Car Insurance marks another step in mission to move insurance beyond a transactional product, making it a lifestyle benefit that rewards smart choices and safe habits. -end- About started in 2018 is PB Fintech's (NSE: POLICYBZR ) first overseas venture and is an online financial products marketplace aimed to educate people on the importance of insurance as a protection tool and becoming a platform for consumers' personal financial needs in the UAE market. currently partners with more than 35+ insurance and banking partners with 400+ products on offer ranging from new-age life insurance,health insurance, motor insurance, credit cards, bank accounts, personal loans, car loans, home loans, and more.
Web Release
19-05-2025
- Automotive
- Web Release
Policybazaar.ae Rolls Out Exclusive Car Insurance Perks Under PB Advantage
the UAE's leading online insurance marketplace, has expanded its flagship initiative PB Advantage to car insurance customers, redefining the way UAE residents experience motor coverage and car insurance claims. believes that car insurance should be more than just a policy — it should be a promise of speed, ease, and trust when you need it most. We are transforming the claims experience in the UAE by offering a one-of-a-kind, seamless, and customer-first approach that gets you back on the road with minimal hassle. From free car washes and flat-rate savings on servicing and repairs to special discounts on the Registration Readiness Package, these benefits are designed to enhance the everyday car ownership experience. Valid until May 31, these exclusive offers are made possible through their partnerships with leading insurers and service providers across the UAE that will deliver real-world value to our customers. In collaboration with leading partners, is redefining traditional insurance by enabling a smarter and more rewarding car ownership experience. The initiative is designed to help customers lower their car-related expenses and remain well-protected with some of the best car insurance plans available in the UAE, while ensuring a high standard of customer satisfaction and full compliance with regulatory requirements. With customers can benefit from fast-track claims processing, access to a nationwide garage network, a dedicated claims concierge service, and smart digital tracking with priority repairs. Through PB Advantage, customers can now enjoy 12 free car washes, up to a 30% discount for safe driving, an excess waiver of up to AED 1,000, a 15% discount on car repairs, a 30% discount on car servicing, and 50% off on the Registration Readiness Package. Neeraj Gupta, CEO of said: 'We're proud to expand PB Advantage to our car insurance customers. Buying car insurance shouldn't just be about paperwork and price — it should come with real, tangible value. These benefits make sure that once the policy is bought, the customer keeps winning throughout the year. From savings on car service to free washes, we're driving value where it matters most — behind the wheel.' added, 'Motor insurance is often seen as a mandatory purchase, but we wanted to flip that narrative. With PB Advantage, we've built a value-first ecosystem where every customer — from a daily commuter to a weekend road-tripper — gets rewarded for making responsible choices. Whether it's safe driving discounts or after-policy care like servicing perks, we're here to make car ownership smarter and more rewarding.' Toshita Chauhan, Business Head – Motor Insurance atadded, 'Motor insurance is often seen as a mandatory purchase, but we wanted to flip that narrative. With PB Advantage, we've built a value-first ecosystem where every customer — from a daily commuter to a weekend road-tripper — gets rewarded for making responsible choices. Whether it's safe driving discounts or after-policy care like servicing perks, we're here to make car ownership smarter and more rewarding.' This move follows the successful rollout of PB Advantage for health insurance customers, a program that introduced Auto Recharge, No Claim Bonuses, and 30-minute claim desk support — setting a new benchmark in insurance experience. PB Advantage for Car Insurance marks another step in mission to move insurance beyond a transactional product, making it a lifestyle benefit that rewards smart choices and safe habits.
Arabian Post
19-05-2025
- Automotive
- Arabian Post
Policybazaar Unveils New Car Insurance Benefits
has introduced an expanded suite of car insurance benefits aimed at enhancing customer value through its PB Advantage programme. This initiative offers policyholders a range of exclusive perks designed to reduce the cost of vehicle ownership while rewarding safe driving behaviours. The PB Advantage package now includes 12 complimentary car washes annually, aiming to ease the routine maintenance burden for insured drivers. This tangible benefit reflects a growing trend in the insurance industry where companies seek to provide added lifestyle conveniences alongside traditional coverage. By integrating such services, insurers are shifting focus towards holistic customer engagement rather than solely risk mitigation. A key feature of the programme is a discount of up to 30 percent on premiums for drivers who demonstrate safe driving habits. This incentive responds to rising demands from consumers who wish for their responsible behaviour behind the wheel to be financially recognised. Safe driving discounts are gaining traction globally as insurers incorporate telematics and other data-driven approaches to assess risk more accurately. Through this mechanism, aims to encourage safer roads and reduce accident-related claims. The PB Advantage offers an excess waiver of up to AED 1,000, which lowers the out-of-pocket expenses policyholders face when filing a claim. This waiver can significantly alleviate the financial strain after an accident, thereby improving customer satisfaction and loyalty. Excess waivers are becoming an increasingly common feature in competitive insurance markets, reflecting insurers' efforts to deliver more customer-centric policies. Policyholders also receive a 15 percent discount on car repair services. This partnership with certified garages is expected to streamline claims processing and reduce repair costs, which are often a major concern for vehicle owners. By negotiating discounts with trusted service centres, is positioning itself as a facilitator of efficient and affordable post-accident care. Further enhancing the value proposition, the programme offers a 30 percent discount on car spare parts. This benefit targets the growing demand for cost-effective vehicle maintenance amid fluctuating global supply chains and rising parts prices. By mitigating repair expenses through direct discounts, the insurer supports policyholders in maintaining their vehicles in good condition without excessive financial burden. Policybazaar's move aligns with broader industry shifts towards value-added insurance models that integrate lifestyle benefits and proactive risk management incentives. With increasing competition in the UAE's insurance sector, companies are innovating beyond coverage terms to secure customer retention and attract new segments. The PB Advantage's combination of complimentary services, financial incentives, and post-accident support responds to evolving consumer expectations, where convenience, cost savings, and personalised rewards are paramount. The programme also reflects the insurer's commitment to digital innovation, as leverages technology to streamline enrolment, claims, and communication. Analysts note that the enhanced offering could influence competitors to adopt similar strategies, potentially driving a new standard in the UAE's car insurance market. The emphasis on safe driving discounts is particularly significant amid government initiatives aimed at reducing road accidents and promoting traffic safety. The introduction of excess waivers and repair discounts further positions PB Advantage as a comprehensive solution addressing both preventive and corrective aspects of vehicle insurance. These features may encourage more drivers to opt for policies with improving risk pools and underwriting outcomes over time. Industry experts highlight that integrating such perks requires insurers to balance the cost of added services with pricing models, ensuring profitability while maintaining competitive premiums. The scalability of these benefits depends on partnerships with service providers and accurate data analytics to tailor offerings to customer profiles. See also Aramco Expands US Ties with $90 Billion in Strategic Agreements By offering twelve free car washes annually, taps into a convenience factor that, while modest, can foster positive customer perceptions and frequent engagement. This small yet consistent benefit can enhance brand loyalty and differentiate the insurer in a crowded marketplace. The safe driving discount up to 30 percent marks a considerable incentive, especially for cautious drivers who can demonstrate low-risk behaviour over policy periods. This element encourages the adoption of safer driving technologies, such as telematics devices and smartphone apps, which track and report driving patterns. The excess waiver provision up to AED 1,000 represents an immediate financial relief for many policyholders, addressing a common pain point in motor insurance claims. This benefit also potentially reduces claim hesitation, enabling quicker accident reporting and smoother claims processing. Discounts on car repairs and spare parts complement the core insurance offering by reducing indirect costs related to vehicle ownership. These benefits may attract cost-conscious consumers, especially those owning older or high-maintenance vehicles, who face significant upkeep expenses. PB Advantage initiative exemplifies a strategic response to shifting consumer needs in the UAE's dynamic insurance landscape. As customers increasingly seek not only protection but also tangible value and convenience, insurers are compelled to innovate their product mix. The programme's multi-faceted approach underscores the growing importance of customer experience in insurance, where engagement extends beyond the moment of claim. This evolution is facilitated by digital platforms that enable seamless integration of insurance, maintenance, and reward services.
The National
02-05-2025
- Business
- The National
UAE home insurance premiums rise while residents still struggle with flood repairs
Home insurance premiums have increased by 10 to 15 per cent after the flooding from record rainfall in the UAE last year, experts said, with homeowners still dealing with the aftermath. The deluge, on April 16 last year, caused widespread damage and disruption to the UAE during the heaviest rain since records began in 1949. This prompted many insurers to reassess their risk models, especially for villas and low-lying residences. 'As a result, we've seen a more cautious approach to underwriting and some changes to premium structures and policy coverage. On average, home insurance premiums have increased by 10 to 15 per cent,' said Neeraj Gupta, chief executive of insurance comparison website 'The actual hike varies based on property location, structure type and claim history. Properties with prior claims or lacking proper drainage systems have seen even higher adjustments.' More than one year after the floods, some homeowners are still struggling with insurance companies to pay out for necessary repairs to the damage that was caused. 'There was an initial surge in claims, and to their credit, insurers responded swiftly by deploying rapid response teams,' Mr Gupta told The National. 'There have also been instances where policy coverage terms or exclusions created confusion, particularly around what constitutes flood damage. It's evident that improving customer awareness and preparedness around home insurance policies will be crucial in minimising such friction going forward.' Mr Gupta said the main damage was caused by water ingress, the term used when water from outside enters a property, which affected both the structure of homes and the contents inside. 'This included damage to walls, flooring and electrical systems, as well as personal belongings like furniture, appliances and electronics,' he added. In the aftermath of the rain that saw 254mm fall in a few hours, the UAE announced a Dh2 billion ($540 million) repair fund. Anand Nair, senior vice president, head of personal lines, small and medium enterprises at insurers Adnic, told The National that they saw a moderate increase in home insurance premiums from last April. 'We've taken a balanced approach to minimise the impact on customers by spreading the adjustment across the entire portfolio and revising the policy deductibles where appropriate,' Mr Nair said. 'Despite receiving an influx of over 2,100 claims on that single day, Adnic was able to respond swiftly and effectively. We're proud to note that, to date, we have not received any formal complaints through any of the authorities regarding our claim handling.' Mr Nair said there are still pending claims with Adnic related to repair works. 'In these cases, we are awaiting final invoices from clients,' he added. He recalls the time of the heavy rains and says it was an exceptionally busy period from a claim-servicing perspective. 'We experienced close to five times the normal claims volumes compared to the same month in the previous year," he said. He urged homeowners to conduct regular maintenance, especially related to waterproofing, plumbing and drainage works. 'It would be prudent for all homeowners to enter into annual maintenance contracts with recognised maintenance companies,' he added. In Dubai's Green Community West, Rubesh Pillai told The National that the first floor of his villa was filled with water and is still in need of repair. The reason for this, he said, was that the offer from his insurance company was so small that it would not come close to covering the cost of repairs. 'The water was nearly a metre inside the house, which damages the furniture and caused mould to form on the walls,' the Sri Lankan businessman said. 'The mould and damage was extensive and affected my health. I had to go to Sri Lanka twice for lung treatment caused by the mould.' The 60-year-old said his family's four cars were also damaged due to the heavy rainfall. 'The insurance company didn't reply to my calls and emails until October last year. I kept holding the line for hours waiting without reply," he said. Mr Pillai could not wait any more and took his cars to a garage, where he had to pay Dh55,000 himself for the repairs. When the insurance company finally got in touch with him, they asked him to take the cars to a specific garage for repair. 'I told them I already repaired them and demanded them to pay me the cost, but they refused and didn't pay,' he said. Mr Pillai recalled the aftermath and the toll it took on him and his family. 'We couldn't flush the toilets because it all came bubbling back up. We were using wipes to clean ourselves,' he said. 'I don't want to remember these days.' As the family were running out of food and water, the support they received from friends and the wider community was remarkable, he said. 'I was surprised by the help from friends and people that I didn't expect, like friends supplying us with food for days. It is the beauty of living in a city like Dubai,' he added. For 65-year-old British resident John Metcalf, the heavy rainfall caused extensive damage to his three-bedroom ground-floor apartment, as contaminated rainwater gathered around in the Green Community and inundated the apartment, causing extensive damage to the apartment building, furniture fixtures and contents. 'The water rose rapidly to four feet both inside and outside the apartment due to the breaching of the pond at the backyard and the flood water entering from the front,' Mr Metcalf told The National. 'The rainwater caused an electrical short circuit causing power to shut down and damage to many electrical and electronic gadgets and appliances. It was a mess.' He left the apartment and stayed in a hotel for two weeks as it was impossible to access the property until the water receded, after which it took several more weeks before power was restored to the building. He used a private company to issue a damage survey report which confirmed that his financial losses were more than Dh740,000. 'Neither the buildings or contents insurance paid a penny until today. I spent around Dh400,000 on interior work to return to my apartment,' he added. 'I had 12 damaged wooden doors due to the water and the developer only paid to replace the front door.' Despite sending emails with receipts and quotations attached to his insurance company, he was only offered partial payments and has yet to reach an agreement with them, which has resulted in him receiving no money from them yet. 'The insurance company have been slow to respond and unhelpful. I'm still waiting for them to settle my claims,' he added.
