Souqalmal.com launches car insurance aggregator in time for Ramadan

Souqalmal.com has launched its online, end-to-end car insurance comparison platform across the UAE in time for Ramadan, when both car and auto insurance sales are at their peak.

This site offers the largest choice of insurance providers in the country. The company launched the site after conducting a survey ahead of the launch. In the survey, 90 percent of the respondents said they would consider renewing their car insurance online.

"Considering the survey findings and our exponential growth in visits in the last year, it is a perfect time to launch our insurance aggregator platform," Ambareen Musa, CEO of Souqalmal, said. "Consumers are actively asking for the ability to have their policies issued online, and we are responding to this request. Insurance companies have welcomed us and have been very progressive in their thinking."

The new Souqalmal car insurance platform is fully secure and provides real-time quotes in less than 60 seconds. It allows users to compare policy options so they can see how each would impact premiums. Once a policy is selected, it can be issued in 60 minutes. A call center is available seven days a week for questions and additional support.

"We found that many customers did not realize that their insurance premium is directly correlated with the value of their car, which they actually have the ability to dictate within a certain range," Musa said. "We encourage our users to ensure that, when they compare quotes from different brokers, that the same value of the car is being used to compute their premium. It is very easy for a broker to give you what appears to be a cheaper premium just because they used a lower valuation for your car."