Page 18 - NewTech Insurance PR REPORT - March 2024

NewTech Insurance Brokers enriches customer experiences, records 90% client renewal rate and 35% growth in business KPI…
healthcare insurance market projected to reach USD 19.6 billion by 2030 from USD 10.131 billion in 2022.
Growing popula on, 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 reliable and bespoke insurance packages that cater to the specific requirements
and demands of individuals and organisa ons. In addi on to recording significant business growth in the
previous year, the company has explored numerous innova ve technologies and hired new personnel, both
of which have helped to improve the organisa on’s market intelligence and service standards. Advanced
medical insurance plans, services, and products are an important source for UAE-based companies that are
seeking to draw and retain talents. The vast array of services offered by NewTech Insurance is expected to
advance the insurance sector and provide individuals with access to excep onal and top-notch services.

Hitesh Khanchandani, Managing Partner at NewTech Insurance Brokers, stated: “Our unwavering
dedica on to recognising client requirements and providing unparalleled value is reflected in the success we
recorded the previous year. Through a number of strategic ini a ves and targeted efforts, we are constantly
striving to strengthen our posi on as a significant player in the region’s insurance sector. Our focus and
commitment have enabled us to guarantee the efficacy of our services and increase the client renewal
rates.”

Addi onally, the company is also exploring new insurance products that are yet to gain prominence in the
Middle East and North Africa (MENA) region, such as parametric travel insurance, which is very popular in
the Western countries. With these solu ons, the company aims to advance the insurance sector in the UAE
and provide individuals and businesses with access to top-notch insurance services.

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