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- dubizzle Motors is partnering with InsuranceMarket.ae to provide users with a fast, easy and reliable tool to compare and buy car insurance in the UAE
- Insights from 2017 reveal the highest amount of car insurance claims were made in July and August, while the fewest claims were made in December and January
- Report showed that average gross premiums for top five insured car brands in the UAE declined in the first half of 2018 compared to the same period in 2017
Dubai – dubizzle Motors, the biggest and most trusted marketplace in the UAE, and InsuranceMarket.ae by AFIA Insurance Brokerage Services LLC, the UAE’s leading digital-first insurance service, have revealed the latest insights on car insurance, giving users more transparency and choice when purchasing a used car.
InsuranceMarket.ae allows users to easily compare and purchase insurance policies across multiple providers, giving users a personal shopper to deliver the best value and the most suitable policy. dubizzle Motors is partnering with InsuranceMarket.ae to provide users with a fast, easy and reliable tool to compare and buy car insurance in the UAE. For every car that is listed on the dubizzle Motors platform, users will have access to a customized link with a form to be filled in order to provide them with a price comparison of the leading insurance providers across the UAE.
As part of this recent partnership, InsuranceMarket.ae released data showing Ford, Honda, Mitsubishi, Nissan, and Toyota as the top five insured car brands in the UAE, with gross premiums declining by 8% in the first half of 2018, compared to the same period in 2017. While the most popular car models insured in the first half of 2018 were the Mitsubishi Pajero, Honda Accord, Toyota Corolla, Nissan Altima, Ford Edge and BMW X5.
Average gross premium - 2017 | Average gross premium - 2018 | YoY Change | |
FORD | 2,381 AED | 2,165 AED | -216 AED |
HONDA | 1,826 AED | 1,691 AED | -135 AED |
MITSUBISHI | 2,009 AED | 1,885 AED | -124 AED |
NISSAN | 2,166 AED | 1,983 AED | -183 AED |
TOYOTA | 2,233 AED | 2,046 AED | -187 AED |
“Through our partnership with dubizzle Motors, we’re offering users a more seamless car buying experience by providing an integrated car insurance form-fill on InsuranceMarket.ae. Our insights reveal an overall decline in premiums on average for car owners in the UAE. These cost savings likely reflect a reduction in traffic accidents this year as well as the recent announcement from the UAE Insurance Authority that allows insurers to reduce premiums for policyholders with claims-free records,” commented Avinash Babur, CEO of InsuranceMarket.ae by AFIA Insurance Brokerage Services.
The study also revealed that the largest number of insurance claims are made over the summer months with 142 claims made at InsuranceMarket.ae last August, while the least number of claims are typically submitted in December with just 36 claims submitted. The highest number of claims submitted were by clients under the age of 30 and above the age of 60, while those aged 51 to 60 submitted the lowest number of claims.
More than three quarters (76%) of InsuranceMarket.ae users opted for comprehensive insurance coverage rather than third party only insurance, recognizing the advantages of an insurance policy that covers accidental damage to the policyholder’s own vehicle as well as its liability to the public.
“dubizzle Motors is a one-stop shop for people looking to buy a car in the UAE. Our partnership with InsuranceMarket.ae empowers users to make well-informed decisions when purchasing car insurance and furthers our effort to create a convenient and reliable platform for in-market car buyers,” commented Jean-Pierre Mondalek, GM dubizzle Motors.
“We are always looking for ways to offer a more seamless and user-friendly experience on the platform. As a result of this partnership, dubizzle Motors’ 5.5 million monthly users now have access to a feature that provides a convenient, transparent, and competitive car insurance quote comparison right at their fingertips,” added Anthony Blackford, Director of Advertising at dubizzle AMEA.
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About InsuranceMarket.ae:
InsuranceMarket.ae is the market-leading digital proposition by AFIA Insurance Brokerage Services where individuals and companies can easily compare and buy all types of insurance through the assistance of personal shoppers and a seamless transaction process. Policyholders of InsuranceMarket.ae enjoy the lowest prices from all the leading insurers in the UAE along with a commitment to have their claim conveniently and professionally mediated by a dedicated claims manager in the unfortunate event of an insured incident.
About dubizzle:
dubizzle is the leading classifieds platform for users in the United Arab Emirates. Since its launch in 2005, dubizzle has become the number one platform for users to buy, sell, or find anything in their community. A community where underused goods are redistributed to fill a new need, and become wanted again, where non-product assets such as space, skills and money are exchanged and traded in new ways that don’t always require centralized institutions or ‘middlemen’.
dubizzle is an OLX Group company:
The OLX Group operates a network of online trading platforms in over 40 countries. It builds market-leading classifieds marketplaces that empower millions of people to buy, sell and create prosperity in local communities.
With over 300 million monthly users worldwide, OLX Group makes it fast and easy to buy and sell almost anything online, such as household goods, phones, cars, and houses. Through consumer brands including Avito, dubizzle, letgo, OLX, Stradia and Storia, more than 10 million things are exchanged on its market-leading apps and platforms every single month.
The OLX Group is powered by a team of 4,000 people, operating from 25+ offices across five continents. The team is united behind a single mission to enhance people's lives by facilitating win-win exchanges. OLX Arabia is actively expanding in the MENA region in Bahrain, Egypt, Kuwait, Lebanon, Oman, Qatar and Saudi Arabia.
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