What lies ahead for Aggregators in UAE: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Aggregators (Price Comparison Websites) have been lately introduced in UAE and within a short span of time, these platforms have gained much traction and are experiencing >200% Y-o-Y growth in their top line figures. However, unlike European and other developed countries, the penetration of aggregators is still very low. (~60% of motor insurance sales happen through Aggregators in the UK as compared to ~10% in UAE). Ken Research estimates the potential of Online insurance to reach 10% of GWP by 2024. How could aggregators plan to capitalize on this opportunity? Regulations set by Insurance Authority of UAE play a very crucial in determining the operation flow of aggregators. On one hand, it does not allow aggregators to directly collect a premium for customers while allows for selling other banking products (loans, credit cards, bank accounts, etc) through the platform. Aggregators should focus on becoming a one-stop solution provider for all banking and financial products among the entire GCC Region. Why GCC? Because the majority of the partner providers (insurers, banks) are the same for which existing agreements could be extended beyond GCC coupled with similar customer behavior throughout the region. Nonetheless, it also amplifies the cross-selling opportunities among different products. Another dimension at which major aggregators including Yallacompare, Souqalmal, Bankonus, and PolicyBazaar UAE could follow is client on-boarding for health insurance products, which currently stands at ~1% (aggregator shares of Health GWP). Not only, but it also provides higher commission rates but also creates the customers for tomorrow (renewal conversion rates are high). However, the entire end to end process is not technologically driven. Aggregators have to work with partner insurers to manually check/verify documents/update details of the policyholder. Bridging this gap through technology deployment could fasten the process of buying policies. To capture the era of personalized services, aggregators also need to work with partner insurers and come up with customized, pocket-friendly insurance plans, make your own policy plans. For instance, in January 2020, PolicyBazaar UAE launched a pocket-friendly plan of term insurance providing a sum assured of AED 25,000 and AED 50,000 priced at premiums of AED 59 and 79 respectively. Such plans are mainly targeted at a blue-collar workforce who find it difficult to pay hefty premiums in one go. Aggregators need to up-ante their capabilities in terms of technological advancement and product offerings to capitalize on the expected booming rise of aggregators in the coming years. Time Period Captured in the Report: – Historical Period – 2014 -2019 Forecast Period – 2019 – 2024E Companies Covered: Yallacompare Souqalmal Bankonus PolicyBazaar UAE Compare4benefits Insurancemarket.ae Bayzat Key Topics Covered in the Report: – UAE Online Insurance Market Size Future of UAE Online Insurance Market UAE Online Insurance Market Forecast Online Insurance Market Aggregators UAE insurance market UAE UAE Web Insurance Aggregator Industry Online Insurance GWP UAE United Arab Emirates Online Insurance Market UAE Fintech Market Potential Insurance Aggregators UAE General Insurance GWP Online UAE For More Information on the research report, refer to below link: – UAE Online Insurance Market Growth Related Report by Ken Research: – India Online Insurance Outlook to 2019 – Driven by Internet Growth and Web Aggregators Industry Contact Us: – Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: Car Dealership Sales Insurance, Commission Rate Aggregators Insurance UAE, Dubai Online Motor Insurance Market, Future of UAE Online Insurance Market, General Insurance GWP Online UAE, Individual Life GWP Online UAE, insurance market UAE, Life Insurance GWP Online UAE, Motor Insurance Declining Premium UAE, Number of Insurance Lives Covered UAE, Number of Policies sold by Policybazaar UAE, Online Brokers in UAE, Online Brokers vs Online Aggregators UAE, Online Distribution Insurance UAE, Online Health Insurance in Abu Dhabi, Online Insurance GWP UAE, Online Insurance Industry in UAE, Online Insurance Market Aggregators UAE, Online Insurance Market in UAE, Online Motor Insurance GWP UAE, PolicyBazaar UAE Market Share, Potential Insurance Aggregators UAE, Revenue Streams Aggregators in UAE, UAE Bankonus Online Insurance Report, UAE Bayzat Online Insurance Market Future, UAE Fintech Market, UAE Insurance Aggregator Revenue, UAE Online Insurance Industry, UAE Online Insurance Industry Research Report UAE Online Insurance Market Research Report, UAE Online Insurance Market, UAE Online Insurance Market Analysis, UAE Online Insurance Market Forecast, UAE Online Insurance Market Growth, UAE Online Insurance Market Major Players, UAE Online Insurance Market Outlook, UAE Online Insurance Market Revenue Analysis, UAE Online Insurance Market Size, UAE Souqalmal Online Insurance Growth Rate, UAE Web Insurance Aggregator Industry, UAE Yallacompare Market Revenue Share, United Arab Emirates Online Insurance Market, اللاعبون الرئيسيون في سوق التأمين الإماراتي عبر الإنترنت, تحليل إيرادات سوق التأمين الإماراتي عبر الإنترنت, تحليل سوق التأمين الإماراتي عبر الإنترنت, تقرير أبحاث سوق التأمين الإماراتي عبر الإنترنت, تقرير أبحاث صناعة التأمين الإماراتي عبر الإنترنت, توقعات سوق التأمين الإماراتي عبر الإنترنت, حجم سوق التأمين الإماراتي عبر الإنترنت, سوق التأمين الإماراتي عبر الإنترنت, سوق التأمين عبر الإنترنت في الإمارات العربية المتحدة, صناعة التأمين الإماراتية عبر الإنترنت, صناعة التأمين عبر الإنترنت في الإمارات, مجمعي سوق التأمين عبر الإنترنت الإمارات العربية المتحدة, مستقبل سوق التأمين الإماراتي عبر الإنترنت, نمو سوق التأمين الإماراتي عبر الإنترنت