UAE drivers who drive safely on the road will now be rewarded with free meals, discounted hotel stays and gym memberships if they sign up for the UAE’s first digital car insurance product called hala.
Abu Dhabi-based Insurtech “hala”, built by Addenda Holdings LTD and underwritten by Al Wathba National Insurance Company (AWNIC), has launched a smart insurance WebApp that allows policyholders to purchase policies and file claims online, and – most importantly – win rewards for every day they drive accident-free.
Those who drive a whole year without accidents can avail a significant discount on their next years’ premium, but some rewards – such as discounted meals – can be availed only days after becoming a hala policyholder. In fact, hala’s goal is to help customers drive safe and earn back their car insurance premium via their proprietary reward system, going as far as allowing third-party liability policyholders to redeem rewards worth the full value of their premium from the first month of driving safely.
Walid is the CEO and co-founder of hala. The company has been funded by VCs and investors such as the Oman Tech Fund, the Arab Bank and 500 Startups, among others. According to Walid, “hala was established with the idea of disrupting long-established principles in the insurance field. Customers are used to insurance companies forgetting about them the moment they buy a policy. With hala, that’s where the fun starts. We want to reward the customer for driving safely without any gimmicks”.
When asked about the new digital car insurance initiative, Mr. Anas Mistareehi, COO of AWNIC, said “In line with UAE’s innovation agenda, we at AWNIC have taken the initiative earlier and started our digital transformation journey almost two years ago, our digitalized services and solutions have been recognized and appreciated by the market.
hala is a great addition to our initiatives and will allow us to offer services that would truly revolutionise the insurance market and have a broader appeal for our valuable customers. Breaking through the current trends, good drivers will now be rewarded for every day they enjoy safe driving – no future promises just instant rewards.
We are assuring cross-channel customer communications and a seamless customer journey across all levels leaving behind the classic business models. We do enjoy the digital mindset and we are creating the new digital insurance culture together with hala.”
Aside from the rewards incentive, hala policyholders are covered with 24/7 premium roadside assistance, up to 7 days courtesy replacement vehicle, and free vehicle registration renewal service.
Most plan members want to see more personalized product recommendations and more personalized assistance to understand their coverage and maximize their benefits plan.
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