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
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
NBAD 10.7 60,767
TIRECO 44.1 222,543
SAVOLA 66.99 842,784
SAGRINSURANCE 28.44 273,230
SABIC 96.21 3,089,615
RIBL 16.66 965,390
STC 69.32 541,831
Recent News

Tadawul index edges up 0.3%; Alinma Bank gains 1.6%
Saudi Arabia’s key market index edged up 0.3 percent despite a purchasing managers’ survey showing growth in Saudi Arabia’s nonoil private sector slowed in June to its lowest level since the survey w

Oil price fluctuations unlikely to impact industry trajectory
The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector. However the current fluctuations may speed up some of the trends that were already unfolding

Saudi banks unruffled by Greece-euro crisis
Saudi Arabia's banking system remains largely insulated from the ongoing events in the euro zone, with high levels of liquidity and solid capitalization ratios, say top economists in the Kingdom.

UAE logistics market valued at $27b in ’15
Sustained growth across key economic sectors such as FMCG, retail, pharmaceuticals, oil and gas, automotive and logistics is fuelling demand for high quality materials handling products and services

Greek debt crisis still impacts markets: NBK
Developments in the Greek debt crisis continued to take center stage last week, a report by the National Bank of Kuwait (NBK) said on Sunday.

The heightened uncertainty has triggered risk

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

Poll

Which of the following do you think is the best long-term investment?