Tawuniya offers private motor insurance program

22/09/2017 21:19 AST

The Company for Cooperative Insurance (Tawuniya) has launched a comprehensive private motor insurance program. Al-Shamel program offers vehicle owners an insurance cover for any accidental loss or damage caused to the insured car - without an additional fee. The company said it is the first time such a service has been introduced in Saudi Arabia.

Majed Al-Bahiti, Tawuniya marketing general manager, said the newly-launched service aims to reduce the burden on vehicle owners by making the payment process of Al-Shamel insurance policy much easier. He said customers can pay the full amount using their credit cards and the amount will be deducted by the issuing bank over 12 monthly instalments with zero percent interest.

"Tawuniya has partnered with five Saudi banks for the new service: NCB Bank, SABB Bank, Samba Bank, Riyad Bank and Saudi Investment Bank. Only holders of credit cards issued by these banks may benefit from this service," Al-Bahiti added.

The insurance premium should not be less than SR1,500.

To activate the policy, customers should pay the premium by using a credit card issued by any of the partner banks listed above. Within 48 hours, they should notify their bank to convert Tawuniya payment to instalments. Tawuniya will not activate this service if the customer does not call the bank in time.

"The one-of-a-kind instalment service is one of several innovative programs offered by Tawuniya aimed at enhancing its customer service," Al-Bahiti said. "Our main competitive value was and remains our customers, hence we have geared our company's overall strategy toward 'customer centricity' - to establish a true customer-centric approach across all departments of the company in order to continue as the pioneer of the insurance industry in Saudi Arabia," he added.

Arab News