Companies need to start focusing on quality service when providing insurance service and not just cut prices.

1. Customer Service Becomes the Key Differentiator for Insurance Providers in UAE
Companies need to start focusing on quality service when providing insurance service and not just cut
prices.
The growth of insurance companies providing similar services has led to customer service quality
becoming the key differentiator and edge builder. The quality of service that is provided to a customer
needs to be customer specific as well as quality based.
While providing insurance services, management needs to understand that different customers require
different attention. For instance, a young customer, who has recently started working or has finished
college, will approach insurance in a different manner as compared to an elderly person who is more
careful and concerned about insurance policies, and requires higher levels of attention and time from
the firm to understand the service offerings.
Understanding your target market and providing service accordingly can help companies win the hearts
of their customers as well as generate profit.
A recent report by Standard and Poor says, “Big insurers are well placed to dominate Dubai’s burgeoning
medical insurance industry – but only if they can improve customer service.
“Over time, quality of service given, rather than price, will dictate who wins contracts,” said Kevin Willis,
a credit analyst based in Dubai, who is the report writer for international ratings agency.
The report stresses on the importance of creating an edge in company offerings through service quality
and not just cutting prices. The edge can be provided through the quality of services and customer
value.
It is possible that the companies best placed to service demand [resulting from Dubai’s new health
insurance law] will be the bigger companies … [as] these insurers can more readily provide … costeffective service,” Mr Willis said.