Beema, a UAE InsurTech expands to Bahrain

By Leandra Monteiro

Dubai-based InsurTech Beema Insurance, part of ENOC Group, is geographically expanding its operations within the GCC to include Bahrain. Beema’s insurance policies in Bahrain will be underwritten by the Bahrain Kuwait Insurance Company (BSC) (BKIC) which offers the highest levels of motor protection in Bahrain.

H.E Saif Humaid Al Falasi, Group CEO, ENOC, said, “Over the past three years we have witnessed significant growth in the structure and the strategy of Beema, part of ENOC’s NEXT accelerator programme. We enhanced customer centricity and strongly focused on customer’s aspirations, enabling it to gain a strong market share in a short period of time. It is in line with the strategy and expectations to expand Beema’s success into other GCC geographies.”

With the launch of Beema, BKIC is strengthening its digital offering and is going to drive change in the Bahrain insurance market. Together, Beema and BKIC, aim to provide customers with customised and curated insurance solutions across various segments, backed by strong tech support.

Beema has revolutionised the insurance sector in the GCC since its launch in 2019 and is now expanding its presence to offer even more value to customers in Bahrain. The all-online insurer, Beema, offers customers a percentage of cash back based on the number of kilometres driven each year with the pay-per-kilometre policy. Motorists who have completed less than 20,000 kilometres in the year, benefit from a cashback of up to 25% of their policy premium.

Moreover, Beema was the first player to launch behavioural car insurance policies in the region and is now officially the region’s first online digital car insurance provider that has been designed with the customer in mind resulting in a digital-led, fair, robust, and flexible insurance platform. The company’s digital-only strategy provides an end-to-end digital insurance solution that is transparent, simple, agile.