Dubai Islamic Insurance and Reinsurance Company (Aman Insurance), a leading Islamic insurance provider, has launched two new medical insurance products for the booming non-resident Indian (NRI) population.

The new schemes Rishtey and Health on Return have been developed in cooperation with ICICI Lombard of India, the largest private sector general insurance company in India and was made possible through the courtesy of J B Boda & Co, India’s largest insurance and reinsurance broker.

The new products have been launched following a recent partnership agreement signed by Hussein Al Meeza, CEO and managing director of Aman and Hitesh Kotak, vice president, Strategic Planning Group, ICICI Lombard.

Rishtey, which means relationships in Hindi, is a strategic medical insurance product that offers NRIs a comprehensive health insurance plan for their families in India and follows a simple structure and uncomplicated documentation process, a statement said.

“One of the growing demands of NRIs based in the UAE and the rest of the Middle East region is for a strategic and highly reliable medical insurance plan,” said Hussein Al Meeza, CEO and managing director, Aman Insurance.

“Our strategic relationship with ICICI Lombard of India is part of our move to address this demand and offer two comprehensive medical insurance products that will help allay worries of NRIs in terms of medical concerns and issues. The Rishtey and Health on Return programmes that we are launching have been developed to address these concerns and altogether provide NRIs with the confidence and security of a wide covering health insurance package,' he added.

The Health on Return product covers NRI health and medical needs during visits and temporary stays in India when policy holders can avail of benefits including coverage of medical expenses incurred if NRI is hospitalized in India due to emergency or accident, the statement said.

The product also serves as a retirement health insurance policy should the NRI decide to move back to India permanently; and allows NRI policyholder to continuity benefits in India after two years of continuous coverage in UAE, it added.

“We are aiming to consolidate our market presence in the UAE with the promotion of our wide portfolio of insurance products, which range from fire, engineering, general accident to marine, motor and healthcare concerns,” Al Meeza said.

“These products are equally offered with strategic value added services that give full money’s worth to our customers. Our goal is to provide customers with the best insurance program that will fit their needs and budget. Rest assured, we will continue to remain steadfast in our commitment to offer a comprehensive system of outstanding Islamic Insurance Services that support the stability and security of our communities,” he concluded.

To date, around 40 per cent of the total population and 50 per cent of the work force in the UAE are made up of NRIs, according to the statement. – TradeArabia News Service