UAE-based insurance marketplace Policybazaar.ae has partnered with fintech firm Tabby to introduce flexible payment plans for car and health insurance. The collaboration, enabled by Tap Payments, allows customers to split their annual insurance premiums into multiple installments, aiming to make essential coverage more accessible for UAE residents.
Quick Facts
- Partnership: Policybazaar.ae, Tabby, and Tap Payments.
- Core Offer: Split insurance premiums into 4 no-cost payments.
- Market: Car and health insurance customers in the UAE.
Breaking Down the Insurance Payment Barrier
The partnership directly addresses a significant hurdle for many UAE households: the requirement to pay a full annual insurance premium in a single, large sum. This upfront cost often forces consumers to choose less comprehensive coverage or delay purchasing insurance altogether.
Through this new integration, customers can now opt for a four-month payment plan with zero interest and no processing fees. For those needing more time, plans of six, eight, or twelve months are also available. The payment flow is managed by Tap Payments’ infrastructure, which integrates Tabby as a checkout option, ensuring a secure and straightforward user experience.
Toshita Chauhan, Chief Business Officer at Policybazaar.ae, explained the motivation behind the move. “Insurance decisions should never come down to cash flow,” she said. “Customer research showed that upfront annual premiums remain one of the biggest barriers to purchasing comprehensive insurance. Partnering with Tabby lets us remove that hesitation entirely.”
Chauhan added, “Our goal is to remove upfront cost as a barrier, allowing customers to choose the cover that best suits their needs rather than what fits their immediate budget.”
Zain Khan, Senior Director of Business Development at Tabby, noted the growing trend of using flexible payments for essential costs. “While insurance is a need for most households, many are often stuck trying to work through the cost when it comes due all at once,” said Khan. “Partnering with Policybazaar.ae puts a practical solution at exactly the right moment: customers can now get the cover they actually want, paid over time, rather than settling for less because of timing.”
About Policybazaar.ae
Policybazaar.ae is the UAE’s leading insurance marketplace and the first international venture of PB Fintech. Since 2018, it has offered over 400 products across motor, health, life, travel, and SME insurance through partnerships with more than 35 insurers and banks.
About Tabby
Tabby is a financial technology company helping millions in the Middle East manage their spending. Over 65,000 global and local brands use Tabby’s technology to offer flexible payments. The company is headquartered in Riyadh and operates in Saudi Arabia, the UAE, and Kuwait.
About Tap Payments
Tap Payments is a payment institution and technology provider in the MENA region. Founded in 2014, the company provides businesses with secure payment infrastructure and access to local and global payment methods across the region.
Source: Zawya
