Dubai Islamic Insurance and Reinsurance Company (Aman) has announced the launch of two new medical products in partnership with India’s ICICI Lombard General Insurance.

Aman said the new tieup comes as part of its plans to launch collaborative insurance products in the UAE market for the Indian expat population.
 
The partnership was formalised by Hussein Al Meeza, CEO and managing director of Aman, and Hitesh Kotak, vice president of ICICI Lombard’s Strategic Planning Group with the help of JB Boda & Co, a leading insurance and reinsurance broker in India.

The alliance will see the co-launch of two insurance products, Rishtey (Relationships in Hindi) and Health on Return.

Rishtey offers comprehensive health insurance for families in India, with a simple structure and uncomplicated documentation.

The Health on Return product covers NRI health needs when they visit India. It also serves as a retirement health insurance policy when they decide to move home permanently.

The products are aimed at Non-Resident Indians in the UAE and the region, in order to better cater to their health needs, and needs of their families back home,” said Hitesh Kotak.

“The NRI segment of the market is increasing in volume. At the same time, there is greater awareness of the benefits of health insurance and the importance of planning ahead. We foresee these products doing exceptionally well in regional markets,” said Hussein Al Meeza.

The Aman – ICICI Lombard collaboration comes on the back of a successful 2010 for Aman, which saw the insurance provider improve market share and profit.

According to Meeza, Aman is consistently looking for ways to improve its presence across various sectors, and diversifying its product portfolio.
 
"We are constantly revamping our products and offerings to ensure we can predict and cater to customer needs. Our partnership with ICICI Lombard will help ensure that we continue to offer innovative products that benefit our clients,” he added.-TradeArabia News Service