A strategic alliance between significant life insurance provider LIC International and Policybazaar.ae, the top insurance aggregator in the UAE and a member of the PB Fintech Group (NSE: POLICYBZR), is intended to revolutionize the insurance sector and give customers an unmatched experience.
Through the partnership, LIC International can create customer-centric journeys, improve product marketing, and gather user feedback to increase product uptake online. Systematic Wealth Creation Plan and Single Premium Wealth Creator, two new customer-centric insurance plans, have been launched by LIC International, a JV business owned by Life Insurance Corporation of India with headquarters in Bahrain and branches in the UAE. For more than three decades, LIC International has occupied a specialized market in the GCC and is widely known for its capital-guaranteed savings and insurance programs. The types of goods and services provided are priced in USD, aligning them with the pegged Dollar-denominated UAE Dirham, which is an essential and alluring idea.
LIC International hopes to grab a large chunk of the internet distribution market by making its goods available online through this arrangement. By creating a platform where customers can quickly learn, compare, and make an informed decision before purchasing and raise assistance in case of any concerns, Policybazaar.ae will support LIC International on this path.
Customer expectations have undergone a significant metamorphosis as the life insurance industry changes quickly. In response to these shifting dynamics, LIC International will reinvent the online research process for life insurance products and open fresh avenues to serve its cherished clients better. A crucial step in reaching this objective is the relationship with Policybazaar.ae, which combines the industry knowledge of LIC International with the technological know-how and creativity of Policybazaar.ae.
“We are thrilled to join forces with Policybazaar.ae to deliver exceptional customer experience in the life insurance industry,” said Dr. Pradeep Mishra, resident manager for LIC International in Dubai. We want to change how clients view, buy, and use insurance online by fusing our in-depth insurance market knowledge with Policybazaar.ae’s cutting-edge technology solutions.
By working together, LIC International will take advantage of Policybazaar.ae’s experience in creating customer-centric journeys and ensuring that each encounter is smooth, simple, and catered to the needs of each consumer. LIC International will be able to customize insurance solutions, streamline procedures, and provide more excellent value to its consumers by utilizing advanced data analytics and user insights.
We are thrilled to work with LIC International on their journey, stated Neeraj Gupta, CEO of Policybazaar.ae. In addition to enhancing their marketing initiatives, LIC International will obtain priceless consumer feedback thanks to our cutting-edge technology solutions, allowing them to develop and optimize their product offerings continuously.
By utilizing the knowledge of Policybazaar.ae, LIC International will get a competitive edge by delivering customized marketing campaigns that guarantee the appropriate goods are promoted to the right clients at the right time. Through the collaboration, LIC International will also be able to improve its products and make them more approachable, pertinent, and appealing to a more extensive client base.