September 15th, 2019: t’azur Isurance has become one of the first insurance companies in Bahrain to partner with Souqalmal.com – The region’s leading personal finance comparison platform. The latter has announced the launch of its insurance aggregation operations in Bahrain, starting September 15th.
Souqalmal.com has become the first to bring the insurance aggregation model to Bahrain, after it secured an e-broker license from the Central Bank of Bahrain (CBB) in June. This was made possible following the release of draft rules by CBB in April, enabling the launch of insurance aggregators in the country.
Souqalmal.com promises to bring an unmatched level of transparency into Bahrain’s car insurance market. Its insurance comparison services will allow users to compare car insurance quotes from multiple providers and review the coverage offered by each provider, before making an informed purchase.
At t’azur Isurance, we have always placed our customers at the heart of everything we do. And this partnership is no different. Souqalmal.com’s flagship car insurance comparison and purchase platform has struck a chord with car owners who are looking to save time, money and effort when buying car insurance, without compromising on quality. The aggregator’s straightforward, fast and secure platform is also going to appeal to time-crunched residents. Our tie-up with Souqalmal.com will eventually help customers access our products through a new, innovative and effective channel.
The insurance industry in Bahrain is at the cusp of digital transformation. Innovative technologies and InsurTech forces are already disrupting the insurance sector in the region. Becoming one of the first insurance providers to join forces with Souqalmal.com, doesn’t just give us the first-mover advantage, but also helps us unlock previously untapped market potential.
With over seven years of operations in the UAE, Souqalmal.com has become the most recognizable brand in insurance aggregation in the region. Combining its state-of-the-art technology with a customer-first approach, the aggregator has built an incredibly user-friendly and transparent platform. With rapidly generated insurance quotes, a side-by-side comparison tool and secure online payment portal – It has transformed the way car owners look for, compare and buy car insurance.
According to Souqalmal.com Founder and CEO, Ambareen Musa:
“At Souqalmal.com, we aim to provide our users with the best deals on car insurance from the most reliable providers. Therefore, going into business with t’azur Isurance made perfect sense for us. The company is a credible brand, has years of experience in Bahrain’s insurance market, and prioritizes the same values as us - Customer focus, innovation, and service excellence.”
Souqalmal.com has also grown to become the most trusted insurance comparison platform and a household name in the region. This is largely due to the company’s ongoing efforts in promoting financial education, a goal that has been at the center of its growth strategy. As it enters the Bahrain market, the team at Souqalmal.com is committed towards simplifying insurance and demystifying the jargon surrounding it.
Ultimately, we see our partnership as being the most beneficial to the residents of Bahrain. Souqalmal.com’s comparison website will list car insurance plans from multiple providers, and being listed on the platform will allow us to showcase our unique value proposition. Our potential customers will now be able to see how our insurance products stack up against those of competitors, not just in terms of premiums, but also in terms of value.