Beema builds market share as InsureTech firm reports growth

Beema builds market share as InsureTech firm reports growth

United Arab Emirates, December 27, 2020: Dubai-based insurance innovator Beema Insurance, a part of ENOC Group, has marked its first anniversary, recording promising growth. Attaining more than 15,000 insurance policies in the first year.

Launched as part of ENOC's NEXT accelerator programme designed to unlock growth opportunities through new digital business ventures, Beema is the region's first online digital car insurance offering.

Despite the impact that the COVID-19 pandemic had on several businesses and startups, the company reported significant month-on-month growth, positioning Beema as one of the fastest growing InsureTech players, with an ability to grab an impressive market share in early days.

H.E Saif Humaid Al Falasi, Group CEO, ENOC, said "Beema has achieved a significant milestone in a short span of time. We attribute this achievement to the unwavering trust and loyalty of our valued policyholders, employees and agents.  We will continue to evolve and enrich customers, supported by technology savvy and customer centric team“.

Beema, is the region's first online digital car insurance offering. Its unique proposition is in determining premiums based on kilometres driven, the biggest risk factor in the car