Page 61 - NewTech Insurance PR REPORT - March 2024

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

experiences, records 90% client renewal rate and

35% growth in business KPIs

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

The company remains commi ed to offering advanced customisable, affordable and reliable insurance
products to individuals and corporates
Reports state that the UAE insurance sector places a substan al focus on health and life insurance, with
the market projected to reach USD 19.6 billion by 2030 from USD 10.131 billion in 2022

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 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

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