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· compareit4me.com launches automated, real-time health insurance comparison platform, allowing UAE users to compare and buy health plans online for the first time.
· Launch comes just in time to help users meet Dubai Government deadline to have all Dubai-based employees covered with health insurance.
Dubai, UAE: compareit4me.com, the Middle East’s leading comparison site, has launched the first automated, real-time, online health insurance comparison platform in the UAE.
At a time when health insurance will soon become a mandatory requirement for residents of Dubai, compareit4me has revolutionised the distribution of health cover for the people of the UAE. For the first time in the Middle East, those looking for health insurance will be able to compare and buy policies online through an easy-to-use digital system built on proprietary financial technology (FinTech).
“That technology helped us build out the UAE’s first truly automated car insurance comparison platform. Now, we’ve expanded its capabilities so that users can compare live prices for health insurance plans in real-time – given how much additional information is required to produce a health insurance quote, the technology behind the platform is orders of magnitude more powerful,” said Jon Richards, CEO of compareit4me.com.
“What’s fantastic about the system, though, is that, to the user, none of the complexity is apparent. To compare quotes, you simply need to fill in the online forms, and the platform will return the kinds of policies you’re looking for – whether that’s for yourself, your family, or your employees.”
The launch is timely, given that the Dubai Government has set a deadline of March 31, 2017, for employers and sponsors in the emirate to provide health insurance for those registered on their visas. Failure to meet the deadline will result in fines for both the sponsor and the employee. As a result, compareit4me expects initial interest in its health insurance comparison service to be from sponsors looking to get their employees covered before March 31.
“If you own a company with fewer than 10 employees, or if you simply privately employ a maid or driver in Dubai, this deadline affects you. You need to get your staff covered before the deadline, or you’ll be subject to fines,” explained Jonathan Rawling, CFO of compareit4me.com.
“Our new health insurance comparison platform takes the stress out of meeting that deadline. Fill in the forms, provide the documents we need, and we can arrange coverage for your staff for as little as AED 650 per year – about as much as you’ll be fined every month for not having your staff covered. It just makes sense to ensure you meet the deadline, and we expect the new comparison service will be invaluable to those who sponsor staff in the UAE.”
That said, with the initial panel of insurers offering a range of health plans, compareit4me’s health insurance comparison platform can also provide quotes for any buyer. From well-off individuals looking for the highest levels of cover for themselves and their families, to those earning mid-range salaries looking for good value, the new platform caters to the entire spectrum of UAE residents.
“And our panel of insurers will expand quickly. When it comes to car insurance, we’re now able to offer our users quotes from 10 different companies, and we expect health insurance to go the same way,” said Samer Chehab, COO of compareit4me.com.
“And as was the case with car insurance comparison, we’re blazing new trails with this launch. Since we introduced real-time car insurance comparison to the UAE, we’ve served users over 1 million quotes, and saved UAE drivers over AED 14.5 million. We’re looking forward to bringing UAE residents the ability to save just as much, or more, on their health plans, too.”
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About compareit4me.com
compareit4me.com is the Middle East's leading comparison site. Using its platform, users can compare bank accounts, credit cards, loans, cars and more in the UAE, Qatar, Bahrain, Kuwait, Saudi Arabia, Lebanon, Jordan, Oman and Egypt, as well as compare and buy insurance policies from the UAE’s leading insurers. Additionally, compareit4me.com is committed to bringing more transparency to the region’s finance industry, and actively works to educate users so that financial literacy can be improved across the Middle East.
Media contact
Tom Paye
Editor,
compareit4me.com
050 922 0642
tompaye@compareit4me.com
© Press Release 2017
© Press Release 2017
