Hala Insurance, a UAE-based insurtech platform built by Addenda Labs LTD and backed by Mubadala, signed an exclusive strategic agreement with Emirates Insurance Company (EIC) in aims to revolutionize the motor insurance sector.
The partnership will help EIC catalyze its transformation into a fully-digitized platform to meet the evolving needs of its customers.
“As we move towards an increasingly digital world, it has become apparent to us that our customer base wants to be able to buy their insurance online. We’re committed to continuously evolving our products and services to match these demands. We saw Hala Insurance as the ideal partner to help us make this vision a reality due to their impressive track record, as well as the energy, enthusiasm and solid technical skills they have brought to the table. As one of the leading motor insurers in the UAE we saw this exclusive partnership as an excellent way to build our online presence,” Jason Light, Chief Executive Officer of Emirates Insurance Company, said.
By implementing AI and machine learning technologies into its existing platform, Hala Insurance has enabled more than 50,000 customers in the last year to receive motor insurance quotes best suited to their requirements within seconds.
“Since day one, our mission has been to bring greater transparency and accessibility to the insurance industry through the integration of technology. With our consumer-focused platform, that has meant taking the guesswork out of buying motor insurance, by first understanding customer wants and needs and then creating an experience that is quick, affordable and hassle-free. We’re proud to now be working with one of the UAE’s most well-established insurance companies to be able to bring this offering to a wider customer base, as we support EIC in their digital transformation journey,” Walid Daniel Dib, Chief Executive Officer of Hala Insurance, commented.
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