RSA Middle East, a leading provider of general insurance services in the region, has entered into a 5-year distribution agreement with Emirates NBD, a leading banking group in the Middle East, North Africa and Turkey (MENAT) region, to provide world-class general insurance solutions.
As part of the long-term partnership, Emirates NBD will distribute RSA’s general insurance products, including motor, home, travel and third-party benefits, on preferred basis to its customers and staff in the UAE.
The agreement was signed by Martin Rueegg, the CEO of RSA Middle East and UAE and Suvo Sarkar, Senior Executive Vice President and Group Head of Retail Banking and Wealth Management at Emirates NBD.
The strategic partnership will help increase insurance penetration in the region by providing customers with accessible general insurance solutions. Strengthened by Emirates NBD’s strong presence, network and brand reputation, combined with RSA’s 70-years of expertise in the region, the agreement reflects Emirates NBD and RSA’s strategy of delivering a robust General Insurance model across the UAE.
Emirates NBD’s customers will benefit from the combined capabilities of the bank’s deep understanding of customer journeys, sophisticated data analytics and digital prowess; and RSA’s global and best-in-class technical insurance expertise and know-how in customizing high-quality, tailored solutions. The partnership will also focus on customer education and building awareness on the importance of insurance and its living benefits in everyday life.
Martin Rueegg, CEO of RSA Middle East, said, “As we continue to live with the global pandemic, it showed that insurance can really help our customers alleviate some of their stresses and uncertainties. We are excited to join forces with Emirates NBD, who share the same purpose of putting real customer needs at the forefront of all decision making, to launch meaningful solutions to their staff and customers that can help them get back on their feet when it is needed. We look forward to this fruitful long-term partnership.”
Suvo Sarkar, Senior Executive Vice President and Group Head of Retail Banking and Wealth Management at Emirates NBD, said: “We are pleased to be entering into a strategic partnership with RSA, a leading insurer in the market, to serve the general insurance needs of our customers. As a leading UAE bank, Emirates NBD is deeply committed to customers’ financial wellbeing, and we firmly believe that this partnership will enable us to better serve our customers’ insurance needs.”
Over the last few years, both partners have jointly invested in developing the right products for their customers and further integrated both the physical and digital channels to enable customers to transact seamlessly across multiple touch points.
