UAE - Leading Life Insurance provider LIC International and Policybazaar.ae, a leading insurance aggregator in the UAE and a part of the PB Fintech Group, have announced a strategic partnership aimed at revolutionising the insurance industry.

The collaboration will leverage Policybazaar.ae's cutting-edge expertise to develop customer-centric journeys, enhance product marketing, and gather user input to drive product uptake online for LIC International.

LIC International is a JV company owned by Life Insurance Corporation of India with its HQ in Bahrain and branches in UAE. It has announced the launch of two new customer centric Insurance Plans - Systematic Wealth Creation Plan and Single Premium Wealth Creator.

LIC International is a niche brand present in GCC for more than three decades and well known for its capital guaranteed savings cum insurance plans. The types of products and services offered are denominated in USD, aligning them with the dollar denominated pegged UAE Dirham, a fundamental and increasingly attractive proposition.

“Through this partnership LIC International aims to gain a significant portion of the online distribution space by making its product accessible online. Policybazaar.ae will be aiding LIC International in this journey by building a platform wherein customers can easily learn, compare and make an informed decision before purchase as well as raise servicing in case of any issues,” a statement said.

LIC International's Resident Manager (Dubai), Dr Pradeep Mishra said: "We are thrilled to join forces with Policybazaar.ae to deliver exceptional customer experience in the life insurance industry. By combining our deep understanding of the insurance landscape with Policybazaar.ae's cutting-edge technology solutions, we aim to transform the way insurance is perceived, purchased, and experienced by our customers online."

Neeraj Gupta, CEO, Policybazaar.ae said: "We are delighted to partner with LIC International on their journey. Our innovative technology solutions will enable LIC International to not only enhance their marketing efforts but also gather invaluable user input, enabling them to continuously improve and optimize their product offerings."

By leveraging Policybazaar.ae's expertise, LIC International will gain a competitive edge by delivering targeted marketing campaigns, ensuring the right products are marketed to the right customers at the right time. The partnership will also enable LIC International to leverage user feedback and insights to refine their products, making them more accessible, relevant, and appealing to a wider customer base, the statement added. 

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).