July 18, 2024

Network International And Policy Bazaar Alliance Boosts Affordable Insurance Access

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Network International And Policy Bazaar Alliance Boosts Affordable Insurance Policies access To Network's Merchant Base with a sign referral agreement
Network International And Policy Bazaar Alliance Boosts Affordable Insurance Policies Access To Network's Merchant Base. Ronen Spivak, Group Head of Value-Added Services (VAS) – Acquiring, at Network and Neeraj Gupta, CEO, UAE at Policy Bazaar. Image Courtesy: Network

Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, has announced a strategic referral partnership with Policybazaar.ae, UAE’s leading financial services aggregator. 

Network International And Policy Bazaar Alliance Boosts Affordable Insurance Access
Network International And Policy Bazaar Alliance Boosts Affordable Insurance Access

According to Industry sources, this partnership focuses on offering affordable insurance policies to Network International’s merchant base. With this collaboration, Network’s merchant clients can purchase insurance policies through the Network Expense Hub portal, the Network’s real-time payment and expense tracking dashboard. Merchants who sign up for Network Expense Hub will therefore receive value beyond payments through data solutions and value-added services.

Ronen Spivak, Group Head of Value-Added Services (VAS) – Acquiring, at Network, stated: “Network has always been at the forefront of introducing diverse and innovative data solutions and value-added services for our merchants. The Network Expense Hub is a remarkable tool for making easier, transparent, and secure business expenses. We have added yet another critical service for merchants, to protect their business from risk by partnering with Policybazaar.ae. Given the recent floods and the damages to many businesses in the UAE, Network believes insurance adds value to the scope of services offered by the Network Expense Hub.”

Neeraj Gupta, CEO, UAE at Policy Bazaar, stated, “At Policybazaar.ae, as one of the leading providers of financial services in the UAE, we are committed to driving innovation and delivering superior value to our customers. Our partnership with Network International marks a significant milestone in our mission to enhance the SME Insurance ecosystem. Through this collaboration, we will showcase our superior SME Insurance solution, enabling completely digital end-to-end online transactions. This partnership is designed to ensure that SMEs have the right prerequisites to thrive in a competitive market, providing them with seamless, efficient, and secure insurance solutions. Together, we are fostering an environment where SMEs can flourish, leveraging cutting-edge technology to streamline operations and drive growth. We are excited about the opportunities this partnership presents and remain dedicated to empowering SMEs with the tools they need for sustainable success.”

Industry sources, further added that Network International has around 60,000 merchants in the UAE and over 120,000 merchants across the region, spanning several sectors including high-end retail, hospitality, electronics, jewellery, and hypermarkets, among others, that stand to benefit from this new instant payment solution.

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