Methaq Takaful completes electronic link in Abu Dhabi and Dubai


09/01/2011 00:00 AST

The new online system will allow direct contact with the traffic departments and instant updating of the customer’s data before issuing the insurance policy.

By the end of 2010, Methaq started using this system to electronically issue vehicle insurance policies and provide the relative data to traffic and licensing departments in the emirates of Abu Dhabi and Dubai. The company says the system will save the customer’s time and effort during vehicles registration and renewal and cuts the time needed for these procedures, as all the data is available on line.

This move comes in line with the Insurance Authority’s drive to launch an electronic link among all insurance companies in the UAE to establish a unified drivers’ database. It will provide information about accidents caused by the driver, and will help reducing occurrences of traffic accidents by giving drivers motivation, facilities and discounts on insurance policies. It also seeks to promote competitiveness among insurance companies to enhance the quality of their services in the interest of both the insurers and the customers.

The approach, the first of its kind to be implemented by an insurance company in the country, is based on establishing a secure connection with an instant synchronization of data between Methaq’s online platforms to the RTA/Abu Dhabi E-traffic platforms. This will include on-the-spot validation of the Unified Traffic code and the driver’s license / vehicle registration submitted as a final step in completion of issuing the online vehicle insurance policy through the web access of Methaq’s selected business partners and distributers

Hamdan Al Kalbani, IT Manager at Methaq described the electronic link between Methaq and traffic and licensing departments in Abu Dhabi and Dubai as ‘a significant step towards a whole electronic shift, as it will allow an electronic input of the data needed for vehicles registration, renewal and insurance procedures in a paperless environment’.

“The new system provides accurate data, including Unified Traffic code and the driver’s license / vehicle registration. This allows fast procedures in traffic and licensing departments,” he said.

CPI Financial
Methaq Takaful Insurance Co. - METHAQ
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
EEC 24.85 583,195
BKMB 0.44 444,710
OTEL 1.5 82,490
GFH 0.51
SABIC 96.75 5,350,083
EMAAR 7.4 18,957,908
SADAFCO 126.75 65,388
Recent News

Asian Infrastructure Investment Bank to fund $301m for Duqm port, rail
Oman will receive finance to the tune of $301 million from Asian Infrastructure Investment Bank (AIIB) for developing two major transport projects in the country – maritime infrastructure at Duqm and

CMA plans to introduce new securities law to safeguard investors
Oman’s stock market watchdog Capital Market Authority (CMA) has released a draft securities law, which is aimed at protecting the larger interest of investors, with a special treatment to retail inve

Qatar Stock Exchange Weekly Market Report
The Qatar Stock Exchange (QSE) index gained 140.2 points, or 1.41%, during the week to close at 10,053.95. Market capitalisation increased by 1.17% to QR540.1bn versus QR533.9bn at the end of the pre

Doha Bank inaugurates representative office in Dhaka
Doha Bank yesterday announced it inaugurated the Bank's Bangladesh representative office in Dhaka. The inauguration ceremony was held in the presence of Qatar's Ambassador to Bangladesh, Ahmed Mohame

Ooredoo named strategic partner of DBS
Ooredoo, in line with its ongoing support for the business sector in Qatar, recently became the Strategic Partner of ‘Doha Business Solutions’ (DBS) and supported its event featuring world-renowned b

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?