The long-standing perception of the insurance industry as being conservative and less is undergoing transformation. As more customers are shifting towards purchasing products and managing their personal finances online or through their smartphones, Qatar Insurance Company (QIC) too has upgraded its core IT system to an integrated, multichannel communications platform that not only attracts, acquires and caters to customers’ needs, but also ensures customer retention. Customers are able to purchase, manage and renew their personal insurances with QIC online through the integrated IT solution.
Senior Deputy Group President & CEO of QIC Group, Mr. Ali Fadala says, “It’s all about enhancing our interaction with our customers. By focusing more on expanding our digital platforms via online, smartphones, Automated Insurance Machines (AIMS), call centers and Apps, we have enhanced our responsiveness to our customers’ needs. Not only does this help increase customer satisfaction and strengthen customer loyalty, but it also ensures customer retention. Most customers nowadays expect the convenience and agility to buy/renew insurance or file a claim from anywhere, at any time!”
By streamlining business processes, insurers are leveraging technology to facilitate multichannel online transactions-whether it is for real time quick quotes, automated approvals, or filing claims, all can be achieved seamlessly, just at the click of a button!
The growing demand for online transactions have opened a plethora of opportunities not just while marketing insurance solutions but through the entire life cycle of insurance products – right from design, to the various levels of real-time quick quotes, to purchase, to pay on delivery, to filing claims.
Mr. Fadala adds, “A digital platform with a customer-centric focus enables us to function with greater efficiency in an interactive, on-demand, structured basis. This year alone, we’ve registered more than 40,000 online transactions through our online universe QIC Online, which is statement of our growing customer base.”
Customers want the best of both worlds – the convenience of transacting on the move, from their smartphones/tablets alongside human interaction and friendly guidance from branch representatives.
Mr. Fadala comments, “We are committed to giving our customers more by providing effective customer-centric solutions that meet their changing needs across smartphones, online, AIMS, call centres and our branches.”
Qatar Insurance Company (QIC) is a publicly listed composite insurer with a consistent performance history of 50 years and an underwriting footprint across the Middle East, Africa and Asia. Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA regions. QIC is one of the highest rated insurers in the Gulf region with a rating of A/Stable from Standard & Poor’s and A(Excellent) from A.M. Best. In terms of profitability and market capitalization, QIC is also the largest insurance company in the MENA region. It is listed on the Qatar Exchange and has a market capitalization of USD 4 billion.
For further information on QIC, please visit: www.qatarinsurance.com.