Union Insurance and Sharaf Exchange Join Hands

Union Insurance, a leading provider of customer-focused insurance products to individuals and corporations, and Sharaf Exchange, a reputed exchange house in the UAE and part of Sharaf Group, have partnered to introduce “Emergency Travel Assistance Insurance”, the first policy of its kind to launch in the UAE market, as part of Sharaf Exchange’s Customer Loyalty Programme - Usrati.

Offered as a free of charge benefit to Usrati members of Sharaf Exchange, it provides a roundtrip plane ticket in case of an emergency. It is specifically tailored for the blue-collar segment, although the benefit is available to any member of the program. The cost of the policy for the members, is absorbed by Sharaf Exchange.

Abdul Muttaleb Al Jaedi, Managing Director and Chief Executive Officer, Union Insurance Company, said, “Helping the blue-collar segment connect with their loved ones in case of a crisis, is a further testament to our commitment to deliver customer-centric innovative insurance solutions that offers more than protection to our customers.”

Rajesh G.K, CEO - Sharaf Exchange, said “Emergencies can make or break families. !! Usrati is our way of giving love back to our loyal patrons across customer segments. Among several other benefits, the emergency free flight tickets, takes a huge stress off especially the blue collar segment, who we understand, live in constant worry about high expenses if such issues were to happen back home. The growth in Usrati members is purely on positive word of mouth and we have had over 30,000 people sign up in a few months’ time.”

In the case of an unfortunate accidental death of an immediate family member (parent, spouse, child) of the Insured (Usrati member), he/she will get reimbursed for roundtrip flight tickets to their home country. Additionally, the policy offers the close relative of the Insured roundtrip ticket reimbursement to the UAE due to an emergency such as inpatient hospitalization of the member resulting from an accident. 

Commenting on the launch of the new product Kamal Deep Chhabra, President, Life, Bancassurance & Personal Lines at Union Insurance, said: “We launched this product after our in-depth market research revealed that many members of the blue-collar segment find it difficult to afford plane tickets in case of an emergency.”  

Suresh Kumar, COO, Sharaf Exchange said, “The partnership with Union Insurance allows Sharaf Exchange to offer the benefit to our large customer base, while Union Insurance manages the risks and operations of the product. Usrati today is the only product in the UAE to offer such an insightful benefit”

The benefits of this product can be availed by enrolling in Usrati program at any branch of Sharaf Exchange in the UAE.