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.
SAMA net foreign assets reach SR2.737 trillion
The Kingdom’s M3 money supply growth edged up to 12.3 percent year-on-year in June from a five-month low of 12.1 percent in the previous month, Saudi Arabian Monetary Agency (SAMA) data showed.
However, due to the limited availability of stock, leasing de
Arabtec Q2 net profit up 11pc
Arabtec, the construction company at the centre of Dubai’s stock market turmoil, reported an 11 percent rise in second-quarter profit yesterday, missing analysts’ estimates.
Net profit cli
Saudi water membrane facility project awarded
The Dow Chemical Company has awarded Fluor Corporation the engineering, procurement and construction (EPC) contract for its Reverse Osmosis (RO) manufacturing facility in Saudi Arabia.