Beema launches innovative auto insurance that rewards users for safer driving – News
Innovative automobile insurance
Dubai-based insurance innovator Beema Insurance has greeted the new year with the launch of another unique insurance product, “Beema SmartDriver”, which rewards users for safer and more responsible driving. The product is the first of its kind on the market and can be purchased and activated online through the Beema mobile app.
Designed specifically for drivers in the United Arab Emirates, Beema SmartDriver offers comprehensive insurance with the added benefit of rewards, such as cash back, based on users’ driving behavior. In doing so, Beema continues to be a pioneer in the Insurtech space by using digital technology to encourage safer habits on the road, thereby minimizing the number of traffic accidents in the country.
“In line with the UAE’s national program to reduce the rate of road accidents, Beema is committed to promoting and raising awareness of safe driving. As an innovator in insurance, we are proud to launch the first behavioral insurance product in the region, to position Beema as a leader in Insurtech ”, said HE Saif Humaid Al Falasi, CEO of ENOC Group.
How it works?
Beema SmartDriver can be activated using Beema’s mobile app and using the latest technology to assess driving behavior through measured data points such as speed, hard braking and phone usage. SmartDriver provides users with a calculated driving score for each trip they take and, based on the overall score at the end of their insurance periods, they can earn rewards such as cash back for responsible driving throughout. year round. The product uses sophisticated software that does not require a physical tracking device or black box, and has an element of gamification that makes it entertaining for the user. Beema SmartDriver has been specially designed for the customer and does not record or capture any personal information beyond the data necessary to calculate the driving score. And once calculated, all the information that was used, especially regarding the location, is immediately deleted. With user data protection and privacy at the core, SmartDriver complies with strict GDPR regulations and maintains the highest levels of cybersecurity.
By launching SmartDriver, Beema once again strengthens its commitment to “making insurance lovable” by sharing profitability with its customers. To date, Beema already has more than 300 SmartDriver users.
Since launching the region’s first usage-based auto insurance in 2019, Beema Pay-per-kilometer, the company has awarded users over AED 600,000 in cashback. Since then, it has also achieved record growth in its market share, which has enabled it to continue the success of its innovative auto insurance and launch new vertical products. In 2021, Beema launched customizable travel and home insurance products, each digitally driven and designed with customers in the UAE in mind. Building on its values of “Simpler, Easier and Fairer”, Beema’s products can all be purchased and managed online, in minutes. In just 2 years since its launch, Beema has won the title of “Best InsurTech Solution” by Entrepreneur Middle East.
Focusing on high growth markets and with record success in the United Arab Emirates, Beema’s innovative insurance solutions are expected to expand both regionally and internationally in 2022, with new products also in the pipeline.