The IA launches the automatic renewal service for branches of insurance companies

: 7/5/2015

The IA launches the automatic renewal service for branches of insurance companies

 

Abu Dhabi, 5th July 2015

The Insurance Authority (IA) recently launched the automatic registration renewal for the branches of national and foreign insurance companies through electronic and smart devices as part of the smart transformation experienced by the IA’s services provided to its customers and the public.

H.E Ibrahim Obeid Al-Zaabi, Director-General of the IA confirmed that the IA is keen to develop the concept of the services provided to the customers and the public as well as to utilize recent techniques and methods that will assist in developing the performance of the companies and the local insurance market besides simplifying of procedures and minimizing of time and effort as well as saving costs for companies and professions related to insurance, which will enhance the sector’s growth and the local market’s competitiveness and support the economic growth and diversify the production and economic basis in the UAE.

He explained that the automatic renewal for the companies’ branches has contributed to minimizing the procedures and steps followed to finalize the registration renewal process for the branches of national and foreign insurance companies into only Two (2) steps instead of eight (8) steps, which were to be followed to complete the renewal process.

He also noted that the base of such service could be extended to include the branches of insurance-related professions into the automatic renewal service.

Then he added that the service of the automatic renewal of the branches of the national and foreign insurance companies has been launched without interference of the IA’s staff in an integrated manner with the renewal notice system where the customer receives a renewal notice one month before the actual renewal date.

According to the automatic renewal service, the system reminds the customer via an SMS message and by email. Once the customer approves of the service, the system will automatically submit the application and gives the customer the opportunity to carry out the payment of fees and then obtain the certificate electronically.

During the automatic renewal process, the system verifies three basic requirements, namely: the company’s registration renewal should be valid; two years should have lapsed since the branch was established and the company’s record should be free of any (negative) remarks.

The Director-General of the IA added that this new accomplishment in the smart transformation comes as an addition to the recent achievements of the IA in this field which has been topped by the IA obtaining 100% on the electronic transformation index of the governmental services according to the report of the Telecommunications Regulatory Authority of 2015 through its success in transforming its high priority services (which are 11 in number) into smart services offered through developed and easy applications available in modern smart phones and tablets.

It is also worth mentioning that in addition to its series of previous successes, the IA has succeeded in transforming 38 services which used to be processed manually through paper work into smart services offered via smart and mobile phones out of originally 47 services which can be transformed into smart services. In the meantime, the IA is currently working on the other remaining services which are viable for smart transformation (nine (9) in number) to turn them into smart ones during this year which will enable the IA to become a smart authority in offering modern and competitive services in the aim of developing the business environment and the government performance in order to build an advanced and modern Emirati society.

Mr. Al-Zaabi asserted that the IA’s application available via smart phones has delivered a quantum leap in the field of service offering and increased communication channels with policy-holders customers, the public, companies and insurance-related professions alike. Additionally, it has simplified the procedures so as to meet the customers’ needs which will effectively contribute to developing of the sector’s performance and regulating the insurance market in the State.

The IA’s efforts to avail the services via mobile phones and tablets will pave the way for customers to accomplish their insurance transactions smoothly and easily in a manner saving time and effort and contributing to the development of business performance in the IA and the local insurance market as well as promoting competitiveness in business performance in the UAE.

The smart services provided by the IA which meet the customer’s and the public’s expectations and requirements comprise a huge range of services, such as reception of complaints, insurance inquiries, renewal of national and foreign insurance companies, registration and renewal of registration of their branches, renewal of registration of insurance companies, individuals of insurance agents and brokers as well as that of inspection  and damage estimation experts, mathematics experts, insurance consultants, health insurance claim management companies and registration and renewal of registration of their branches in the Register and amendment application of insurance companies data and data of health insurance claim management companies and companies, individuals of insurance agents and brokers, inspection and damage estimation experts, mathematics experts and insurance consultants in the Register and the electronic payment of service fees and follow-up of offered services procedures and meeting the same round the clock during weekdays.

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