Page 46 - NewTech Insurance PR REPORT - March 2024

NewTech Insurance Brokers enriches customer experiences, records 90% client renewal rate and 35% growth in business KPI…

NewTech Insurance Brokers enriches customer

experiences, records 90% client renewal rate and

35% growth in business KPIs

(MENAFN- CommuniGate Middle East) UAE, March 05, 2024

NewTech Insurance Brokers, a licensed and regulated insurance brokerage powerhouse in the UAE,
recorded a remarkable business growth in the fiscal year 2023 with a surge of over 35 per cent in key
performance indicators (KPIs) and a renewal client rate exceeding 90 per cent.

This achievement further solidifies the company’s posi on as a trusted partner in the UAE’s insurance

landscape, par cularly 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 con nue offering an array of personal and business insurance services that are

flexible, reasonable, and reliable. The company also recently hosted an event in associa on with
NHRDN addressing HR leads of the region on naviga ng 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 ambi ous plans to reach a larger audience
through the provision of more advanced cu ng-edge services. At NewTech Insurance, we adopt an
empathe c and compassionate approach, which helps us be er understand customer requirements

and concerns as well as treat them with the respect and care they deserve, enabling us to deliver
personalised solu ons 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 ci zens.”

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 substan al 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 popula on, increasing healthcare costs, significant technological advancements, and

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