Page 14 - NewTech Insurance PR REPORT - March 2024

ArabMedicare.com | NewTech Insurance Brokers records 90% client renewal rate and 35% growth in business KPIs

Hitesh Khanchandani, Managing Partner at NewTech Insurance Brokers

NewTech Insurance Brokers records 90% client renewal
rate and 35% growth in business KPIs

(Dubai, UAE) - NewTech Insurance Brokers, a licensed and regulated
insurance brokerage in the UAE, recorded a business growth in the fiscal
year 2023 with a surge of over 35 percent in key performance indicators
(KPIs) and a renewal client rate exceeding 90 percent.
This achievement further solidifies the company’s position in the UAE’s
insurance landscape, particularly within the healthcare sector, with a
comprehensive range of insurance packages, services and products.
With a specific focus on sectors, including health, property, motor, and
travel, NewTech seeks to continue offering an array of personal and
business insurance services that are flexible, reasonable, and reliable.
The company also recently hosted an event in association with NHRDN
addressing HR leads of the region on navigating the health insurance
sector in the UAE.

Arvind Kashyap, CEO of NewTech Insurance Brokers, stated: “We
are extremely proud of the figures we have achieved last year, in terms of
business KPIs and metrics as well as client renewal rate. We look
forward to further serving the MENA region in line with our ambitious
plans to reach a larger audience through the provision of more advanced
cutting-edge services. At NewTech Insurance, we adopt an empathetic
and compassionate approach, which helps us better understand
customer requirements and concerns as well as treat them with the
respect and care they deserve, enabling us to deliver personalized
solutions catered to their specific circumstances. Through this approach,
we also guarantee insurance services of the highest quality for the MENA
region as well as support the UAE’s mission to protect and safeguard all
its citizens.”

As the UAE economy is growing, the need for different types of insurance
has increased. In response to growing demand, the number of medical
professionals as well as insurance companies and services in the UAE
has quadrupled, significantly expanding the country’s healthcare
infrastructure in recent years. Industry reports indicate a substantial focus
on health and life insurance within the UAE’s insurance sector, with the
healthcare insurance market projected to reach USD 19.6 billion by 2030
from USD 10.131 billion in 2022. Growing population, increasing
healthcare costs, significant technological advancements, and
government support are the major factors driving this growth in the
country’s insurance sector.

NewTech Insurance offers insurance packages that cater to the specific
requirements and demands of individuals and organizations. In addition
to recording significant business growth in the previous year, the

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