Salama Expands Reach with Policybazaar Partnership
Salama partners with Policybazaar.ae to enhance access to Shariah-compliant life insurance in the UAE.
Summary
Salama collaborates with Policybazaar.ae to offer Shariah-compliant life insurance, aiming to increase market penetration in the UAE.
In a strategic move to bolster its presence in the UAE's insurance market, Islamic Arab Insurance Company, popularly known as Salama, has announced a significant partnership with Policybazaar.ae. This collaboration seeks to broaden the accessibility of Salama’s Shariah-compliant Life Takaful products through Policybazaar.ae’s extensive digital platform.
Salama, one of the largest and longest-standing providers of Shariah-compliant Takaful solutions, is aiming to leverage Policybazaar.ae's digital reach to enhance awareness and adoption of its life insurance offerings. This partnership is not just a business collaboration but a shared mission to make ethical and transparent financial protection more accessible to UAE residents.
Rakesh Sudhakaran, Chief Commercial Officer at Salama, emphasized the company's commitment to innovation in Takaful solutions, focusing on long-term well-being for families in the UAE. He noted that the partnership with Policybazaar.ae is pivotal in expanding reach to customers who prioritize ethical and purpose-driven insurance solutions.
Policybazaar.ae, a leading digital insurance broker in the UAE, is known for its user-friendly platform that simplifies the insurance selection process. Neeraj Gupta, CEO of Policybazaar.ae, highlighted the increasing awareness among UAE residents regarding the importance of securing their families' financial futures. By integrating Salama’s Takaful solutions, Policybazaar.ae empowers customers to make informed insurance decisions with ease.
The partnership features a unique portfolio of Life and Savings Takaful solutions, designed around a Return of Contribution feature. This ensures that customers' contributions are protected and returned, enabling them to pursue long-term financial goals confidently. Atul Kathuria, Business Head – Life Insurance at Policybazaar.ae, praised the value proposition of Salama’s offerings, which blend security with financial planning through features like return of premium and guaranteed principal protection.
Going live earlier this month, the partnership is supported by educational content, dedicated product assistance, and a seamless customer experience. Salama and Policybazaar.ae are not just offering insurance; they are delivering trust, peace of mind, and lasting protection, underscoring their commitment to financial inclusion and digital innovation.
Given the increasing demand for ethical financial solutions and the strategic alignment of both companies, investors might consider holding onto Salama shares. The partnership with Policybazaar.ae is likely to enhance Salama's market presence and could potentially lead to an increase in market share, making it a promising investment for the future.
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Summary
Salama has partnered with Policybazaar.ae to enhance access to Shariah-compliant life Takaful insurance solutions in the UAE. This collaboration aims to increase the availability of Salama’s life insurance products through Policybazaar.ae's digital platform, aligning with local regulations. The partnership seeks to expand Salama’s reach to customers interested in ethical and transparent financial protection. Salama's offerings, which include term protection and savings-linked plans, are now available on Policybazaar.ae. The collaboration is supported by educational content and product assistance, aiming to simplify life insurance decisions for UAE residents. This initiative emphasizes financial inclusion, digital innovation, and empowering families to secure their futures.
