AXA receives permit to offer coverage under Basic Benefit Plan
Major boost to AXA’s leadership in the UAE
Company geared to handle additional influx of members & services
Dubai Health Authority [DHA] today chose AXA Gulf – one of the largest non-life international insurers in the Middle East – as a Participating Insurer [PI] to offer health insurance coverage under Basic Benefit Plan.
Initiated by the Dubai Health Authority, Dubai’s mandatory health insurance law legislation was signed into law by Sheikh Mohammed bin Rashid Al Maktoom, Vice President and Ruler of Dubai, in November 2013. PI status is provided to a few selected insurers by DHA after a rigorous evaluation process based on various criteria such as the Insurer’s capacity, financial standing, performance in the healthcare segment, etc. This status provides the insurers -who have been successful in obtaining the same exclusive rights- to offer coverage to the population segment with monthly income less than 4,000 AED under any plan including Basic Benefit Plan.
As per the Health Insurance Law, companies with more than 1,000 employees will be required to ensure every employee with health insurance coverage by the end of October 2014 (Phase 1). In the second phase of the plan, companies with 100-999 employees must implement full health insurance coverage by July 2015
Under a third phase, companies with less than 100 employees have until June 2016 to arrange for complete insurance coverage. The DHA timetable demands that spouses and dependents as well as domestic workers must also be fully insured for basic health coverage by end of the third phase in June 2016.
AXA Gulf’s nomination as a Participating Insurer is a major step forward in its journey as the preferred insurance provider in the country. With the new health insurance permit, AXA Gulf is set for a significant growth in members as well as services across the UAE, reinforcing its market leadership in the country. Currently, AXA Gulf is servicing more than 425,000 members across five countries.
Mr Jérôme Droesch, CEO of AXA Gulf, said: “We are extremely honoured to be nominated as a Participating Insurer and being given the permit to offer the comprehensive Basic Benefit Plan mandatory as per the new Health Insurance Law. This once again reinforces our growing market reputation and leadership in the insurance sector. We are geared to handle the additional members and services required of us in line with the new legislation. In fact, we have already mobilized our resources for the same. I am sure the efforts we have made on the quality of service, our global expertise and our innovative solutions have supported our submission.”
He added, “AXA Gulf has serviced more than 425,000 members in 2013 across 5 countries. The number of members has increased significantly between 2011 and 2013 both in the UAE and in Dubai (+115% and +124%). This demonstrates AXA Gulf’s capability to absorb a significant growth in terms of additional members and related services with ease. In preparation we have formulated a number of innovative solutions that may include on-site In-House Clinics (including Doctors & Nurses)”
The company also announced plans to recruit, train and deploy the necessary resources in the coming months. AXA Gulf already has a bouquet of innovative health insurance solutions on offer in the UAE, including the reimbursement claims online, which provides an update on the impending claims online; or the Online Medical Locator, which helps customers to locate and access the network of health service providers at the click of a mouse.
“Since the inception, we have always tailored our products and services in line with the requirements of our customers. With the new Participating Insurer permit, we have gone one step ahead in our journey to be the one-stop service provider in health insurance for anyone – be it any company or an individual looking for the best, most accessible and the effective health insurance cover for self or family members. AXA Gulf’s platform has the capacity to immediately absorb a significant increase in the number of members with a Basic health Benefit Plan while maintaining the same quality of service – so we are well equipped for the future growth trajectory,”
As one of the leading names in the UAE and regional insurance sector, AXA Insurance Gulf products are tailored across all sections – corporates, SMEs, individuals and families.
Notes to the editor:
About AXA in the Gulf
With a workforce of over 800 employees, 22 branches region-wide, more than 500,000 customers and 2013 gross written premium of over US$ 768 million, AXA is one of the largest international non-life player in the GCC offering a wide range of insurance products and services for corporate and individual customers. AXA in the Gulf was recently awarded Insurer of the Year for the 5th consecutive year and Personal Lines insurer in 2014 at the MENA Insurance Awards and best Motor insurance product by the Banker Middle East. For more information log on to http://www.axa-
About AXA Group
AXA Group is a worldwide leader in insurance and asset management, with more than 160,000 employees serving 102 million clients in 57 countries. In 2013, IFRS revenues amounted to Euro 91.3 billion and IFRS underlying earnings to Euro 4.7 billion. AXA had Euro 1,113 billion in assets under management as of December 31, 2013.
For additional information, please contact:
Alexis de Beauregard
AXA Gulf Marketing,
Tel: +971 44476350
Menna Talla MOHY EL DIN
Regional Communication Manager, AXA Insurance (Gulf) B.S.C. (c)
Tel. : +971 (0) 4 447 6349 - Mob. : +971 (0) 56 682 7104