Insurtech pioneer Beema brings UAE insurance success story to Bahrain

Innovative Insurance Provider Bima Following its success in the UAE, it is rolling out its groundbreaking car policy to more GCC drivers.

The Dubai-based insurtech company is shaking up the industry regionally with products that reward car owners for safer driving habits.

Now, car owners in Bahrain will benefit from car insurance Revolution as Beema Insurance (part of ENOC Group) expands its presence in the GCC geographically.

Launched in September 2019, the online insurer set out to change the way the regional insurance industry thinks and operates.

Bima Provide the client with a percentage Cash back Based on the number of kilometers they drive each year, through the company’s groundbreaking Charge by kilometer product.

HE Saif Humaid Al Falasi, CEO of ENOC Group, said: “Over the past three years, we have witnessed significant growth in the structure and strategy of Beema under ENOC.

“We have strengthened our customer focus and strong focus on customer aspirations, enabling it to gain a strong market share in a short period of time.

“This is in line with the strategy and expectations of expanding Beema’s success to other GCC regions.”

As a result, motorists in Bahrain can now enjoy the kind of budget-friendly benefits that thousands of UAE car owners have registered over the past three years.

Drivers who drive less than 20,000 kilometers in total during the policy term can earn Cash back Up to 25% of premium.

The agreement for Beema’s expansion into Bahrain was celebrated at a signing ceremony in the country.

The meeting was attended by Dr Abdulla Sultan, Chief Executive Officer of Bahrain Kuwait Insurance Company (BSC) (BKIC), and Ali Noor, Chief Operating Officer, as well as Nicola Garelli, Chief Executive Officer, Beema Insurance, and Sara Al Rumaithi, Chief Business Development, Compliance Chief Operating Officer, Beema. and SSC officials.

Bahrain’s Beema policy will be underwritten by Bahrain Kuwait Insurance Company (BSC) (BKIC), which provides the highest level of car protection in the country.

With the launch of Beema, BKIC is strengthening its digital offering and intends to drive change in Bahrain’s insurance market.

Beema and BKIC aim to provide clients with customized and curated insurance solutions across various sectors, backed by strong technical support.

For Mr. Garelli, bringing Beema to Bahrain was a natural progression in the company’s innovative growth journey.

“Since the launch of Beema, our goal has been to focus on the needs of our customers in the region and continue to enhance and expand our services to serve customers in other markets,” said the CEO.

“We are proud to see Beema transform into a strong and well-established regional player through its establishment in Bahrain.”

The company is the first insurer to launch a behavioral driving policy in the region.

It officially calls itself the region’s first online digital car insurance Products designed for the “new reality” – by providing a digitally-led, fair, robust and flexible insurance platform.

Beema adopts a purely digital strategy to provide end-to-end digital insurance solutions that are transparent, simple, agile and relevant.

Thanks to full digitization, all policy purchases and renewals are done online, and customers register and manage their policies through Beema’s online portal.

Beema, a business of the Emirates National Oil Company (ENOC), says it aims to help residents save money on low-mileage vehicles and ensure that if they drive a “normal” total mileage in a year, they’ll never pay for a regular policy Pay more.

Things got better for Beema in the second half of 2022, with August being considered the company’s best month of the year, as its growth trajectory and mission to “make insurance cute” continued to gather pace.

Beema experienced a “very strong performance” in August, followed by July and September, as more UAE motorists use its incentive-linked insurance model and embrace the idea of ​​driving less.

This makes October an ideal time to extend the technology-first company’s industry-shaping strategy to its GCC neighbours, so drivers in Bahrain can also drive fewer miles during the driving year, thereby reducing the risk of accidents.

Bahrain car owners can visit https://www.bkicbeema.bh/en understand more.

Updated: 11/2/2022 4:25AM