Beema brings to market an innovative, first-of-its-kind offering in the region that will give UAE motorists up to 25 percent cash returns on their motor insurance, depending on the kilometres they drive.
Beema is the result of a joint innovation sprint by ENOC and BCG Digital Ventures, in partnership with AXA Insurance. Conceived in July 2018, it was part of ENOC’s accelerator program NEXT, and addressed a crucial issue in the motor insurance arena. The team observed that many motorists in the UAE were being subjected to a range of offline car insurance services that failed to specifically tailor to their individual needs.
Representatives from BCG Digital Ventures, ENOC, and AXA Insurance at the formal launch of Beema.
Paolo Gagliardi, CEO at Beema, said, "Beema was designed specifically with the UAE market in mind, knowing the diverse pool of driving needs we have in the country. Customers can rest assured that they are getting the best value for how much they drive as well as peace of mind that they are underwritten by AXA.”
In particular, customers were faced with unchanged policy pricing irrespective of how much they drove – a common problem for owners of more than one car. Beema’s pay-per-kilometre model eliminates the single pricing problem, and is especially welcome for drivers who drive less than 20,000km annually. With a fully online experience, customers can easily obtain a quote in seconds and be fully insured within minutes.
Commenting on the launch, His Excellency Saif Humaid Al Falasi, Group CEO of ENOC stated, “In line with the UAE’s innovation agenda, we wanted to offer a service that would truly revolutionise the insurance market and have broad appeal for drivers.” Kilometre readings are recorded annually from the vehicle’s odometer, which means Beema does not track customers’ journeys. To submit an odometer reading, customers can either easily upload a Tasjeel certificate or schedule a visit to record their vehicle’s odometer. Cashback amounts are then calculated based on kilometres driven.
Underwritten by AXA – ranked as the number one global insurance brand – Beema provides the highest levels of motor insurance in the Middle East. It leverages the experience, security, and service quality of AXA to deliver comprehensive cover for customers. Beema policies also make customers eligible for 24-hour accident recovery, guaranteed repairs, and round-the-clock service.
With an easy-to-use online interface to get your vehicles insured within minutes, Beema is rewriting the policies of UAE motor insurance.
Paolo Gagiardi, CEO of Beema, said about the firm, “Beema is all about convenience and value – providing customers with an insurance policy that provides full coverage and fits their lifestyle and driving habits. This offering was designed specifically with the UAE market in mind, knowing the diverse pool of driving needs we have in the country. Customers can rest assured that they are getting the best value for how much they drive as well as peace of mind that they are underwritten by AXA.”