Mada Brokers licenced by Central Bank of Bahrain (CBB), has announced the launch of the first insurance aggregator in the kingdom, accompanied by the introduction of the mobile application, 'Shamil by Mada.'
It currently offers three core insurance lines - Motor, Home, and Travel - through strategic partnerships with GIG Gulf, GIG Bahrain, and Solidarity.
The platform is designed to simplify the insurance process, offering side-by-side comparisons of policies from leading providers.
This groundbreaking initiative marks a significant milestone with the support and guidance of Central Bank of Bahrain (CBB), as Mada becomes the first company in Bahrain to provide clients with instant quotations for a variety of insurance products, including motor, home, and travel insurance.
This advancement underscores Mada's commitment to harnessing technology to enhance customer experience and address the evolving needs of its clients. In addition to the mobile application, the aggregator is also accessible via the company’s website.
On the launch, Khaled Fuad Kanoo, the Chairman of the Board of Mada Insurance, said: "The launch of Mada’s comprehensive digital application marks a major milestone in the Kingdom of Bahrain, as it introduces the first insurance aggregation platform of its kind."
"The platform serves as a unified marketplace that streamlines the insurance purchasing process -empowering users to compare multiple products and choose the option that best aligns with their needs," he stated.
Kanoo said: "At Mada Brokers, our mission is to drive the expansion of Bahrain’s online insurance aggregator ecosystem—a model that has matured globally to become the primary channel for distributing personal and commercial insurance products."
"Our goal is to offer a user-friendly platform that equips consumers with the tools and knowledge necessary to make confident, informed decisions about their insurance coverage," he added.
Kanoo affirmed that Shamil by Mada is a key milestone in the company's journey, developed with the support and regulatory oversight of the Central Bank of Bahrain.
It reflects Mada ongoing commitment to using digital innovation to create transparent, accessible, and seamless insurance solutions for all clients.
In addition, Mada provides a range of corporate insurance solutions, offering coverage against a spectrum of risks such as property damage, business interruption, operational incidents, financial losses, employee benefits, and theft.
For individuals, Mada’s personal insurance lines cover losses arising from death, injury, or property damage, ensuring financial protection and peace of mind, said the statement.
As part of its roadmap for continued expansion, Mada plans to introduce Medical Malpractice Insurance and Medical Insurance in the coming months - reinforcing its role in enhancing the insurance sector and addressing the evolving needs of Bahrain’s diverse customer base, it added.-TradeArabia News Service
