Reinsurance products offered for rapidly maturing auto dealer market
QBE’s Dubai branch is now offering guapanteed auto protection (GAP) insurance and auto extended warranty on a reinsurance basis to cedants dealing with motor dealers and banks operating within the GCC market.
The insurer has deveoloped a turn-key solution for the administration of these schemes.
“This will provide a new revenue stream for cedants dealing with auto dealers and bancassurance business,” said QBE Dubai general manager Khalil Eid. “The new and used auto dealer market is maturing rapidly within the GCC and becoming much more sophisticated. Dealers and banks are looking to create long term benefits for their customers to drive repeat business and sales. We are therefore delighted we are now able to provide them with a range of products that can deliver real added value to their clients over a number of years.”