Page 38 - NewTech Insurance PR REPORT - March 2024
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NewTech Insurance Brokers enriches customer experiences, records 90% client renewal rate and 35% growth in business KPI…
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 personalised 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. 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 reliable and bespoke insurance packages that cater to the specific
requirements and demands of individuals and organisations. In addition to recording significant
business growth in the previous year, the company has explored numerous innovative
technologies and hired new personnel, both of which have helped to improve the organisation’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 exceptional and top-notch services.
Hitesh Khanchandani, Managing Partner at NewTech Insurance Brokers, stated: “Our
unwavering dedication to recognising client requirements and providing unparalleled value is
reflected in the success we recorded the previous year. Through a number of strategic initiatives
and targeted efforts, we are constantly striving to strengthen our position 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.”
Additionally, 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
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