FGB scoops ‘Most Innovative Service Provider’ title at the 2015 MENA Insurance Awards

FGB, one of the leading banks in the UAE, has won the “Most Innovative Service Provider” title at the 2015 MENA IR Insurance Awards. The ceremony was held at The Ritz Carlton Hotel in DIFC, Dubai, and the awards were judged by an independent panel of industry experts from around the world.

The sixth annual awards ceremony, hosted by MENA Insurance Review Magazine, was held to celebrate top-performing organisations from across the MENA insurance industry, which delivered exceptional customer service and innovative product development over the past year.

Girish Advani, Head of Personal Banking at FGB, said: “Innovation is key to gaining that important competitive edge in a very crowded marketplace. Throughout 2014 we worked hard to differentiate ourselves with the launch of several first-of-a-kind solutions, which over 20,000 new customers enrolled in during the year. Being named ‘Most Innovative Service Provider’ is testament to our vision to ‘Be First’ for customers, and we will continue to deliver innovative products and services which meet our customers’ needs.”

Technology is playing an important role in FGB’s ability to bring innovation to the market and enabled the bank to launch the UAE’s first e-insurance platform for motor, travel, home and life insurance in 2014. The e-platform allows customers to purchase insurance coverage whenever they want, wherever they are, without upfront documentation.

Girish Advani added: “In recent years consumers in the GCC have become accustomed to the ease and intuition of digital interaction, and want the same experience from banks and insurers. With greater focus on policyholder rights, consumer risk awareness and increased disclosure, we’re transforming our service delivery channels and giving customers the flexibility that they want.”

During 2014, the bank also launched a campaign in association with the Dubai Gold and Jewellery Group throughout the 2014 Dubai Shopping Festival, to raise awareness about the importance of home contents insurance. The initiative included complimentary jewellery and home contents insurance cover up to AED 70,000, for 6 months.

For the travel season, FGB Insurance offered UAE residents complimentary worldwide, Schengen-compliant multi-trip travel insurance via online enrolment. FGB also launched Jeevan Nivesh, a single premium plan with a fixed term of three years from the Life Insurance Corporation, achieving record sales worth USD 100 million (AED 367.31 million) in less than eight weeks from releasing the product to the market.