UAE – National insurers neglect life products
Saturday, 02 24 2018, Category: Insurance and Reinsurance, Country: U.A.E
National insurance companies neglect life insurance products due to the lack of local expertise in this field. Therefore, foreign insurers take advantage of this situation to control 80% of life insurance contracts.
Moreover, experts told “Al Roeya” that most customers interested in these products are foreign expatriates who look for products that can be used in many countries or at least in their home country.
As a consequence, the national insurers sell usually normal life products that cover only death and disability and that are mainly related to bancasssurance especially housing loans.
Source: Al Roeya - UAE