Study of Medical Insurance Market to Suggest a Model for a New Entrant Making a Foray in the Health Insurance Sector in Dubai

Abstract

The insurance sector in Dubai has seen an exponential growth over the last few years.There are already 123 insurance firms, including brokers established in the Dubai market. Still there exists a high demand for insurance, medical insurance in particular, which is perhaps one of the few sectors which has not been affected adversely by the recent global recession. Dubai Insurance sector is projected to report 26% growth in 2009 with total premiums expected to be around $18.12 billion.Though this percentage is slightly less than the last year but considering current bleak business scenario, it is a good growth compared to other sectors. This research report encapsulates the present scenario in the insurance market, the different attributes that customers/consumer look for while choosing insurance, the different marketing channels used by insurance companies and proposes a model that new entrants can use to make a foray in Dubai market.