Page 42 - NewTech Insurance PR REPORT - March 2024
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NewTech Insurance Brokers enriches customer experiences, records 90% client renewal rateand 35% growth in business KPIs…
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 insurance, which is very popular in the Western countries. With
these solutions, 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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