THE Company for Cooperative Insurance (Tawuniya) has launched a new service that affords vehicle owners a 12-month installment service on comprehensive private motor insurance (Al-Shamel) Program with no fees or charges, the first time such a service has been available in Saudi Arabia.

Tawuniya’s Marketing General Manager Majed Al Bahiti said that the newly-launched service aims to reduce the burden on vehicle owners by making the payment process of (Al-Shamel) insurance policies much easier, whereby customers pay the full amount using their credit cards then the issuing bank deducts it over 12 monthly installments with 0% interest.

“Tawuniya has partnered with 5 Saudi banks in the new service: NCB Bank, SABB Bank, Samba Bank, Riyad Bank and Saudi Investment Bank. Only holders of credit cards issued by these banks may benefit from this service,” Al Bahiti said.

The installment service is available for renewal or purchasing new (Al-Shamel) insurance policies with premium amount no less than SR1,500. To activate it, customers pay for the “Al-Shamel” insurance policy by credit card then contact the issuing bank within 48 hours and request the amount paid be transferred to the installment service.

“The one-of-a-kind installment service is one of several innovations offered by Tawuniya aimed at enhancing its customer service,” Al Bahiti stressed. “Our main competitive value was and remains our customers, hence we have geared our company’s overall strategy towards “customer centricity” to establish a true customer-centric approach across all departments of the company in order to continue as the pioneer of the insurance industry in Saudi Arabia.” — SG