Insurance Companies in Dubai / Dubai Insurance / Insurance Companies in Dubai : Insurance Brokers in Dubai : List of Insurance Brokers in Dubai with Contact Details
Insurance Brokers in Dubai : List of Insurance Brokers in Dubai with Contact Details. Choose from the best insurance consultants and insurance brokers in Dubai and compare prices, cost and reviews. Find the best price for insurance in Dubai UAE. Compare how much insurance cost in Dubai and save money
Insurance Brokers in Dubai : List of Insurance Brokers in Dubai with Contact Details. Choose from the best insurance consultants and insurance brokers in Dubai and compare prices, cost and reviews. Find the best price for insurance in Dubai UAE. Compare how much insurance cost in Dubai and save money

Insurance Companies in Dubai : Insurance Brokers in Dubai : List of Insurance Brokers in Dubai with Contact Details

Insurance Companies in Dubai : Insurance Brokers in Dubai : List of Insurance Brokers in Dubai with Contact Details. Choose from the best insurance consultants and insurance brokers in Dubai and compare prices, cost and reviews. Find the best price for insurance in Dubai UAE. Compare how much insurance cost in Dubai and save money. Insurance is a type of investment whose objective is not necessarily to accumulate wealth but for financial security. The insurance protects one and his family against accidents, natural calamities, theft and vandalism. In addition, one who opts for life insurance enjoys other benefits such as tax-deductions and long-term capital gains.

Role of insurance consultant – The main role of claims’ consultant is to act as a liaison between a claimant and his respective insurance company. Consultants should therefore be well versed in handling any type of claim and ensure that the client gets the best compensation. Having an experience life consultant, especially for complicated claims, can maximize your chances of receiving all benefits as spelt out in your policy. In addition, he can handle all your paper work and complex details giving you ample time to concentrate on your recovery. A claims’ successor will compile, prepare, file and discuss all intricacies of the case with insurance company’s representatives. He may even oversee repair and restoration of damaged properties.

Just like buying anything else, Life claims have some nasty surprises that one should be wary of. First be cautious in your approach before signing for the policy. Ensure that you have read all the terms and conditions of the policy. You would not want to find that some areas you thought had been covered under the policy are actually exemptions.

Before taking any policy, it is advisable to take your claims consultant with you to see the extent of coverage of the policy and how much you will have to pay out.

Hidden charges and loopholes

The claims’ consultant will help you understand fully the cost of the policy and what you will have to be paid in case of a claim. Moreover, most policies have hidden fees that are not very clear to an untrained eye. The claims consultant will help you identify these hidden costs as well as advice against diverse ways and lifestyle, which usually invalidate your policy.

In conclusion, you should be aware that many insurance companies weave numerous cost, intricacies and hidden fees in their policies. They will always use these avoid or invalidate your life insurance claims and benefits. The best way to avoid getting entangled in these dangerous products and enjoy true life insurance benefits is to enlist the best insurance claims consultants.

List of Insurance Consultants in Dubai

Find the top Insurance Consultants in Dubai with name, contact telephone numbers, email addresses, websites, Facebook link, location map, driving directions, deals, offers, prices, costs, coupons, vouchers, reviews and ratings. Find bellow list of Insurance Consultants in Dubai UAE.

1. Oriental Insurance Company Limited
Address & Location: Bur Dubai, Dubai, United Arab Emirates
Telephone Number: +9714 353 8688
Category: Insurance

2. AFIA Insurance Brokerage Services LLC
Address & Location: Dubai, United Arab Emirates
Telephone Number: +9714 421 5819
Category: Insurance

3. United Insurance Company
Address & Location: Airport Rd, Dubai, United Arab Emirates
Telephone Number: +9714 250 2501
Category: Insurance

5. Al Nabooda Insurance
Address & Location: Al Wasl Road, Dubai, United Arab Emirates
Telephone Number: +9714 312 1333
Category: Insurance

6. Al Khazna Insurance Company
Address & Location: Al Ittihad Road, Dubai, United Arab Emirates
Telephone Number: +9714 217 3333
Category: Insurance

7. Oman Insurance Company
Address & Location: Dubai Healthcare City, Dubai, United Arab Emirates
Telephone Number: +9714 363 5380
Category: Insurance

8. National General Insurance
Address & Location: Deira, Dubai, United Arab Emirates
Telephone Number: +9714 211 5892
Category: Insurance

9. Methaq Takaful Insurance Company
Address & Location: Deira, Dubai, United Arab Emirates
Telephone Number: +9714 260 1601
Category: Insurance

10. Dubai Insurance
Address & Location: Al Rigga, Dubai, United Arab Emirates
Telephone Number: +9714 269 3030
Category: Insurance

2. Salama Islamic Arab Insurance
Address & Location: Oud Metha, Dubai, United Arab Emirates
Telephone Number: +9714 357 7000
Category: Insurance

Insurance Consultants Dubai Location Map

Insurance is a financial institution classified as a non bank financial institution. They are important financial inter-mi diaries. It is believed to have originated from the ancient practices of inhabitants of the valleys of rivers Tigris and Euphrates in the present day Iraqi in about 4.000BC. History has it that in 1800BC, the Babylonians code of Hammurabi contained provisions which had elements of insurance in the laws that govern their commerce. But today what we have in the industry, both locally and internationally had moved from just an agreement between two persons into a very big industry across the globe.

Going by definition, we learn that insurance means a situation whereby someone protects his or herself against risk and reduce effects of uncertainties as well as distribute loss. Other explanation to this owe it to the situation whereby a certain amount of money when collected from someone by an insurance company agrees to pay a compensation or render services to that person if and whenever that person suffers the kind of loss specified in the insurance agreement; and from the explanation, this is where an insurance company comes into play since they are the people that will go into agreement with the person taking any insurance policy against any of his belongings. This industry has widely been believed as a means whereby people reduce the risk of unforeseen circumstances. As financial intermediaries, they act as middlemen between the surplus units and deficit units of the economy thereby sustaining the general growth of the economy.

One may ask, how do insurance companies generate the money used in compensating their policy holder when affected by any mishap? The answer to this question, will lead us into talking about the various means via which the insurance companies make their money and how their policy holders are compensated. The truth is that, the money they collect from their policy holder (i.e one that has an agreement with the insurance company) is invested in the form of premiums (an extra sum of money paid in addition to the normal cost of something. by BBC. Eng. dict) and that money is invested in Bonds, in stocks, mortgages (i.e house) and government securities (in our subsequent article, we will explain more of this: Bonds, stocks, mortgages and govt. securities). They generate income for themselves and those who are in their service. They invest their policy holder’s money in better business that has short term maximum returns on investment and from there meet their numerous needs when needed in claims and losses. These funds themselves are invested, that not only do they earn interest to be added to the funds, but they also benefit the government, public authorities, and industries whose securities the investment are spread, because of the investment policy of the insurer (we will explain later), their reserve funds are not left idle butt are used productively.

Another way via which the insurance companies compensate those who are in their service is that the contribution of many is used to compensate the few among them who were affected by the misfortune insured against. So the loss of few people is share by many.

We hope that to this extend, you must have understood the above explanation about insurance company. Now the next thing we will be considering is the functions of the insurance companies.

Amongst other functions, the main function of the insurance company is risk bearing, the financial losses of individuals are judiciously distributed among many people, for example, in the case of fire, the policy holder in fire insurance pays a premium into a common pool, out of which those who suffer loss are compensated.

Guide to Insurance Consultants in Dubai : Best Insurance Consultants in Dubai

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Insurance Companies in Dubai : List of Insurance Companies in Dubai

Insurance Companies in Dubai : List of Insurance Companies in Dubai UAE.

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  1. List of Insurance Companies in Dubai

    Insurance Brokers in Dubai : List of Insurance Brokers in Dubai with Contact Details. The term broker traditionally refers to a person or entity that acts on behalf of a buyer or client which is known as the principle. The broker uses their knowledge and expertise to advise the client on certain decision usually pertaining to purchasing and trading. The broker can either play an advisory role or may also have complete purchasing and decision making power in order to act on behalf of the client or principle.

    The most commonly found form of brokers are investment brokers and commodity brokers. People who wish to invest their money and trade in commodities seldom have the knowledge and time to manage their investment portfolio’s closely so they employ broker’s such as these who have a lot more insight and expertise to act on their behalf. There are however many other forms of brokers who also provide people with their inputs of knowledge and expertise. Other examples of brokers include business brokers, Forex brokers, real estate brokers, insurance brokers and many more.

    The term insurance broker is however a very vague one. In the past insurance brokers were just like any other broker, but specialising in insurance policies. They would act on behalf of the principle/individual who employed them in order to investigate various insurance options from various insurance companies in order to secure the best deals for the principle, as well as help interpret certain formalities within insurance contracts. A trend eventually developed in which insurance brokers did not necessarily look out for the best interests of the principle and would favour certain insurance companies. In fact many insurance companies posed as brokers in order to obtain the preference of deceived and uninformed individuals. As a result the term insurance broker has developed into one with a much broader meaning. Today an insurance broker is essentially seen as any person who acts as an agent to insurance on behalf of the principle, irrespective of whether the agent is acting in the interest of the principle or in the interest of a particular insurance company.

    In reality the term insurance broker is hardly ever used to refer to an agent who is hired by individuals seeking the best insurance offers. Today it is more accurately applied to employees of insurance companies who represent the clients of that company. Insurance brokers still represent insured individuals, but instead they are hired by the insurance company itself to handle the claims, legalities and transactions between the insured and the insurance company. Therefore most brokers represent only one insurance company and act in the interests of the insurance company which they represent. The broker essentially acts as an intermediary which communicates the interests of the insured to the insurance company, manages the procedures of coverage and ensures that the insurance contract is adhered to.

    In conclusion, the existence of an broker is very necessary to both the insurance company and the insured individual, as they insure that neither party breaches the insurance contract and make sure that procedures are followed. The insurance broker also makes it easier for insured individuals to communicate their interests to the company and successfully make claims should the need arise.

  2. List of Insurance Companies in Dubai

    Insurance Brokers in Dubai : List of Insurance Brokers in Dubai with Contact Details. When most people have the Internet at their fingertips, and there are so many options for purchasing insurance, is it worth working with an insurance broker?

    The short answer is, yes. An insurance broker is someone who represents you, not the insurance company. A broker will be able to provide you with quotes from various companies. They will also have the expertise to assist you in comparing complex quotes – something that can be extremely difficult for the layperson.

    Compare the advice and service that you would get from an insurance broker to someone who represents a bank or agency. While a broker can access a wide-range of insurance policies to fit your needs, a banker or insurance agent will be limited to selling you products that their own company offers. People often take certain insurance polices – such as home insurance from the bank they have a mortgage with – as they believe this is the only option available. As with any product, it is important to shop around and an insurance broker can help.

    While some people prefer to get online quotes and do their own insurance shopping, a broker does more than provide quotes on premiums. A broker acts as a mediator when it comes to claims. A broker knows the system and has knowledge of your coverage. They will act as an advocate on your behalf. Some consider the claims component more important than the premium. When it comes to collecting insurance payouts, the process can quickly intimidate a layperson. The claims process can be especially difficult if the insurance was purchased through an online-only provider. If you find yourself needing to process a claim, you will already be under a great deal of stress from the accident or situation that lead to the claim in the first place. Having a broker speak on your behalf greatly reduces your stress levels and leaves you free to recuperated and move on.

    Even though all insurance brokers require a license, not all brokers are alike. They come from a variety of backgrounds and have different degrees of experience. It’s important to talk to a few brokers before you make a decision about who will represent you. Your relationship with your insurance broker is very important as this is an individual you will be trusting with important financial decisions. There are many, wonderful, qualified insurance brokers to choose from, ensuring you will find one that you are comfortable and happy with.

    Online insurance quotes and advice from your banker or insurance agency may give you insight into appropriate insurance coverage, but ultimately, an insurance broker will see the bigger picture. Their expertise and experience will likely get you the best coverage for your needs.

  3. List of Insurance Companies in Dubai

    The insurance industry has definitely made its place in the business sector. New insurance companies crop up with fair regularity and seem to take great delight in confounding the issue of finding the right insurance company for you. Insurance companies specialize in a wide variety of areas such as health, vehicle, life, home insurance, and many more. In order to make life a bit easier, the insurance broker evolved.

    What is an insurance broker?

    An insurance broker is essentially a go between for the client and the insurance company. They handle all the negotiations and finalising of the quotes. If the agent is acting on behalf of the buyer, then the broker is called a buying agent. Similarly, an insurance broker acting on behalf of the seller is called a seller agent. Basically, the insurance broker is the representative of the company who interacts with the potential clients and current clients with regard to their policies and claims.

    Insurance brokers may work on a fixed salary, a basic with added commission or purely on commission. This depends entirely on which company they work for. They may also work for more than one insurance company and, as such, would be able to offer you more than one option for you insurance. A broker will generally not focus on one specific industry and will also allow you to consolidate your insurance under one roof which may make it cheaper for you in the long run.

    Why do you need an insurance broker?

    Imagine trying to get quotes from each insurance company in each area that you need insurance. Considering that there are so many insurance companies out there each with their own pros and cons and quirks, this would undoubtedly be a time consuming and frustrating task.

    By going through a broker, most of this work will be eliminated. All you will need to do is get quotes from brokers who work for different insurance companies and compare this much shorter list of quotes to find the best deal for you. So instead of looking at potentially hundreds of quotes, you will only need to compare a handful of quotes from a select few brokers.

    Basic Responsibilities of an Insurance Broker

    Insurance brokers are primarily salesmen. It is their job to source new clients for the companies they work for. They need to negotiate good rates for their potential clients and make sure that the terms and conditions agreed upon are honoured by both parties.

    It is also the broker’s duty to ensure the credit worthiness of the clients and to collect the rates due by each client every month. The broker is liable to the company for their clients and so the insurance company is certain of being paid each month for clients attracted by the broker. It is the broker who takes the risk when offering insurance to clients.

  4. List of Insurance Companies in Dubai

    Initially Insurance brokers were a very scarce breed of people who only wealth individuals or insurance companies could afford to hire. These individuals and companies used to hire insurance brokers to manage their select and manage their insurance portfolios to get the most out of them. Today however essentially every single insurance company employs these insurance brokers on an insured clients behalf. In fact they employ masses of insurance brokers so that they are able to cater to the individual needs of every single insured customer.

    What does all this translate into for the individual or business entity that receives insurance though, what does the insurance broker mean to them, and how does he/she add value to their insurance portfolio? From a overall perspective the insurance broker manages the portfolio’s of clients to take the load off of them as well as helps them understand certain procedures in everyday terms and acting as a communication catalyst to the insurance company.

    In order for this general role which an insurance broker plays to actually make more sense and be better understood it actually has to be broken up into its various components. When a n individual initially seeks insurance for example, the broker plays a role. The brokers look at the needs of the individual and the nature of insurance which they are seeking, and according to that he/she can provide advice on which insurance policies would best suit the individual, the value for which the individual will have to be covered and what costs will be involved in obtaining that cover. The broker informs the potentially insured individual of the premiums they pay, the excess they may need to pay in the event of a claim and the extent to which the individual will be insured.

    If an individual has taken out insurance they will usually remain in contact with that same broker exclusively, since the broker is specifically designated to that client to manage their portfolio. The insurance broker then plays the role of providing a client with any additional information should they need it, but mostly they will deal with insurance claim, therefore, communicating the clients claim to the business and ensuring that the clients is accurately compensated. It may be up to the broker to decide whether the client is financially compensated or should have their loss compensated with goods of equal quality to those lost or damaged. Depending on company policy, the broker may also have authority to investigate the validity of the claim by requesting the broken components if damage is the nature of the claim, or by getting the advice of an assessor.

    Occasionally it may also be necessary for an insured client to update their portfolio and make changes to it. whether these changes are merely small personal changes such as a new address or phone number or big changes made to the portfolio, they too fall under the duties of an insurance broker. Some of the bigger changes that brokers need to make to the portfolios of clients are when the clients insured value increases or decreases. Insured individuals purchase new items for example and those items need to be specified on the insurance policies. All this is communicated to the broker. Very seldom it may even be preferable or necessary for a broker to move and insured party to a whole new policy with more appropriate coverage and terms.

  5. List of Insurance Companies in Dubai

    According to the Insurance Dictionary, an insurance broker is a “representative of an insured, not of an insurance company. Acts of a broker are not the responsibility of the company, and notice given by an insured to a broker is not the same as notice to the company. The broker searches the insurance marketplace for a company in which to place the insured’s business for the most coverage at the best price. The broker is not restricted to placing business with any one company.”

    Thus, a life insurance broker would act on behalf of you, the proposed insured, to find you the most affordable, most appropriate, or perhaps just the available life insurance policy options from an array of different companies. Ultimately, a life insurance broker does YOUR bidding after he informs you of all available options–although he may try to sell you on just what your bidding should be before you give him the final command.

    A life insurance broker should be friendly, personable, and readily share with you what companies he works with if you ask him. But of course, he should be very knowledgeable about life insurance and about different life insurance companies. You also want to work with a life insurance broker who is transparent: that is, he will always tell you, if you ask him, how he will be compensated if through him you buy a certain life insurance policy. You should also seek out a broker who has at least five years of experience–because most life insurance brokers got their start as bound agents for one company, and as a result there is little need for you to have to put up with the risk of misinformation from someone inexperienced when you want expert advice.

    Generally speaking, life insurance brokers get a percentage of the first year premium that you pay to the insurance company whose product he sells you. He may also earn residuals for keeping it in place through the years and he may be compensated in other ways depending on his agreement with the company in question.

    Insurance brokers are, by law, required to act in your best interests first and their own second, should a conflict of interest arise. For instance, if a broker is licensed to two different insurance companies who both offer a virtually identical policy that is of the type you need or want, and all other things such as company quality being equal one company offers a lower premium than the other, he is supposed to make sure you are aware that you can save money with the one company–even if that means he takes a lower commission as a result. If there is ever a clear cut-and-dried case where a life insurance broker sells a policy with a higher premium than the client really needed to pay for the sake of earning a higher commission, he can be sued and he can lose his license to practice.

    Life insurance brokers choose who they are licensed to write insurance for. They will thus try to do several different things to improve their own profitability. They will seek to make their offerings as expansive as possible to appeal to as many different potential clients and circumstances as they can. They will also, however, try to do business with companies that pay them the best commissions. Nevertheless, they will also look to insurance companies that offer life insurance products that they want to sell, instead of blindly licensing themselves to companies with good commission rates but inferior or few products. And they will seek to get licensed through companies that will take on most of the customer service burden, because brokers don’t have time for traditional CS, as they are too busy prospecting and maintaining client relationships.

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