Salik Partners with Liva to offer market leading insurance solutions.
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Collaboration will offer vehicle owners tailored insurance solutions, raising awareness of the importance for the right coverage and timely renewal of their car registrations. This new partnership marks another key milestone in Salik’s strategy to enhance its ancillary revenue streams and establish its position as a leader in sustainable mobility solutions.
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Partnership is expected to be effective end of November with Salik customers benefitting from Liva’s state-of-the-art motor insurance plans. through innovative digital services that enhance lifestyle and align with the future development of Dubai.
Dubai, United Arab Emirates, November 13, 2024: – Salik Company PJSC (Salik), the exclusive toll gate operator of the Emirate of Dubai, has entered a strategic partnership with Liva a leading multi-line insurer in the GCC. The partnership will offer one-of-a-kind bespoke insurance solutions to drivers in the UAE, streamlining the renewal process for greater convenience and efficiency.
Salik will leverage its comprehensive database to provide value-added services to customers by sending timely reminders to mitigate insurance coverage lapses and ensure timely renewals of vehicle registration. These notifications will include a link directing customers to a Liva managed portal, where the motor insurance policy can be renewed in a few simple steps.
The partnership marks the latest milestone in Salik’s strategy for becoming a global leader in sustainable mobility solutions, as it pursues opportunities to build out ancillary revenue streams beyond its core tolling business. In line with this strategy, Salik continues to explore new opportunities to leverage its unique technology and data capabilities to improve the travel experience of road users in the UAE.
Ibrahim Haddad, Chief Executive Officer of Salik Company PJSC, said: “We are delighted to partner with Liva to enable a seamless and convenient motor insurance renewal process for our customers, providing an advanced lifestyle that reflects digital progress and innovative solutions in the Emirate of Dubai. By integrating Salik’s cutting-edge technology with Liva’s best-in-class insurance solutions, our objective is to ensure timely and convenient vehicle insurance renewal for drivers across the UAE. The initiative underscores our commitment to enhancing customer happiness and delivering exceptional services and is another important step in our strategy to enhance our ancillary revenue streams. While tolling remains our core business, we are quickly proving that we have the capacity and capabilities to deliver a wide range of mobility-related technology solutions, as we continue to unlock new opportunities for further product diversification and growth.”
Salik’s partnership with Liva is expected to support its efforts to expand its business in the market and offer value-added services to customers, which will enhance revenue growth and set new standards for digital insurance services. The performance of the services and solutions offered will be monitored to ensure the best outcomes in terms of customer experience and financial results that benefit the company’s shareholders.
Martin Ruegg, Group CEO, Liva Group, said, “We are thrilled to collaborate with Salik, where we will provide bespoke insurance solutions to Salik customers through a dedicated digital platform. As a result of this partnership, drivers in the UAE will now have instant access to best-in-class motor insurance solutions and will be able to benefit from and enjoy a hassle-free claims experience, with our expert support team available to guide them through every step of the process. At Liva, we are committed to empowering individuals, enabling them to face life’s challenges confidently, by fostering a robust insurance ecosystem and collaborating with like-minded partners.”
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About Salik Company PJSC
The Company was established in its current form, as a public joint stock company in June 2022 pursuant to Law No. (12) of 2022. “Salik”, which means “seamless mobility” in Arabic, is Dubai’s exclusive toll gate operator and manages the Emirate of Dubai’s automatic toll gates utilising Radio-Frequency-Identification (RFID) and Automatic-Number-Plate-Recognition (ANPR) technologies. The Company currently operates 8 toll gates located at strategic junctures, especially on Sheikh Zayed Road, which is considered the main road in Dubai. In 2023, 593 million journeys were recorded through Salik’s toll gates, whether for residents commuting within the Emirate for their daily activities or for tourists visiting Dubai’s attractions. Under a 49-year concession agreement (ending in 2071), with the Roads and Transport Authority (RTA), Salik has the exclusive right to operate existing and any future toll gates in Dubai.
About Liva Group
Liva Group is a leading insurer in the region with strong technical capabilities and customizable solutions across all lines of insurance, underpinned by exceptional service. With an employee strength of 1200 people, serving more than 1.5 million customers, Liva has established operations across GCC markets, including Oman, Saudi Arabia, the United Arab Emirates, Kuwait, and Bahrain. The Group also has wholly owned subsidiaries viz; NSSPL(India) and Inayah TPA(UAE) to support its business growth.
Disclaimer
No statement in document is intended to be nor may be construed as a profit forecast. Any statements made in this document which could be classed as “forward-looking” are based upon various assumptions, including management’s examination of historical operating trends, data contained in the Company’s records, and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant risks, uncertainties, and contingencies. Forward-looking statements are not guarantees of future performance. Risks, uncertainties, and contingencies could cause the actual results of operations, financial condition, and liquidity of the Company to differ materially from those results expressed or implied in the document by such forward-looking statements. No representation or warranty is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved. No reliance should be placed on any forward-looking statement. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of this communication. Furthermore, no representation or warranty is made as to the accuracy, completeness, or reliability of the information contained in this document. The information, statements, and opinions provided herein do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to buy Salik Shares. In the event of any discrepancy or error in the numbers presented in this document, the information provided in the official financial statements shall prevail. We do not accept any liability for errors or omissions in the information contained herein.
