QLM Life & Medical Insurance Company has announced that it will soon ensure the availability of innovative individual life and health insurance products to citizens and residents of Qatar.
The move was inspired by the initiatives of Qatar Central Bank to promote financial inclusion to the benefit of all segments of society, in line with global developments, said QLM deputy CEO Ahmad Mohamed Zebeib.
“QLM’s dedicated ‘Product Research & Development’ team has been working for quite some time to indigenously manufacture innovative products, and a series of such products are ready to launch. The intention and purpose of this initiative is to enable/empower individuals to meet their financial needs at every stage of the human life cycle by providing most appropriate life and medical insurance solutions.
“In fact, product development involves a whole gamut of issues – from conceptualisation, design and development of core product, pricing, testing, and developing the required IT platform to service the product, among others. I am happy to announce that QLM has acquired all the required expertise & capability over a period of time to meet all these requirements in-house,” he said.
Zebeib added: “These new series of products are in addition to the current corporate products already available. This product range will be wider, from micro insurance to complex savings insurance, while maintaining and further enhancing our superior service quality. Most of these are ‘digital products’ in which entire process is paperless and others are with minimum documentation work.
“The claims settlement process is equally simplified. Our products will be cost-effective, affordable, and user-friendly, that helps customers in case of any eventuality and provide access to financial security/compensation when it’s needed most. To facilitate a seamless experience to our customers, a ‘retail vertical’ was formed within QLM with a dedicated team for the purpose.”
Rated ‘A- with Stable Outlook’ by Standard & Poor’s, QLM Life & Medical Insurance Company differentiates itself from its peers by delivering bespoke and innovative life and medical insurance solutions with unmatched customer service.
Bringing in innovative technologies, QLM Life & Medical Insurance Company has established itself as a pioneer in the life and medical insurance sector in Qatar. With a highly-experienced in-house team of experts and a wide network of medical service providers, QLM Life & Medical Insurance Company is well-positioned to deliver world-class healthcare services to its multicultural client base.
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