The world today is filled with uncertainties and risks. Individuals, families, businesses, properties, and assets are exposed to different types and levels of risks. The insurance industry in today's world has become a prominent and crucial part of individuals' and businesses' environments. Insurance plays a significant role in a country's future economic growth by providing stability to businesses and generating long-term financial resources for long-term projects. The insurance industry in Iraq has witnessed a fast-paced development since the release of the Insurance Law no.10 in 2005. Insurance is vital for developing countries like Iraq because it encourages the virtue of savings among individuals, creating employment opportunities for the whole nation. Both savings and employment are essential factors for the economic growth of Iraq.
Al Hamraa Insurance Company, since it began its operation in 2001, has been a challenging player among Iraqi insurance companies in specific, and the business sector in general. Al Hamraa Insurance has provided professional consultancy and advice to both corporates and individuals for the past years to protect their assets, property, liability, and earnings. While doing all the latter, the company has identified its exceptional services on a cost-effective basis to reach and benefit the highest customer base from both corporates and individuals.
The company's vision rests on increasing the insurance awareness among all Iraq's population while setting the standard of excellence among other insurance providers by being innovative, financially solid, and always providing the right services at the right time for the customers. On the other hand, the company's mission is to use a customer-centric approach to provide the most affordable and professional services to its clients while educating them on insurance importance.
Al Hamraa stands out in the industry by being creative in the services they provide; the company recognizes that the insurance industry in Iraq can be challenging due to the vulnerable environment. Therefore, Al Hamraa always strives to enhance its level of services to keep up with the international standards of insurance providers to safeguard and protect its clients from any misfortunate circumstances they may encounter.
At Al Hamraa, we make sure to approach our clients in a customer-centric way making their needs our priority. The staff at Al Hamraa ensure this is always practiced as they are the most professional and experienced staff in the insurance industry in Iraq. The employees at Al Hamraa are carefully selected based on their experience and their areas of expertise to provide the highest quality of services to our clients.
Our success is attributed to the various insurance services we provide to our clients in several different areas. The process of our work with the clients is based upon a transparent relation, and it's divided into stages because we recognize that the most critical aspect of our work is to keep our client's business services safe and continuous.
The first stage is about gaining a deep understanding of the client's business; we take the time to dig deep into their goals, objectives, and where their company stands in the market to understand the risk exposure they might be exposed to.
The next stage is all about finding the right solutions for the risk mitigation we assessed to advise our clients on relevant risk prevention processes and policies. Moreover, we begin the marketing process for our client's program to find the best available options for them in the market. Finally, once we reach this stage, we consistently refine the client's program, ensuring that it evolves with their business objective to remain ahead of all sorts of risk exposures.
As our client’s trusted advisor, we always ensure the fullest benefit of the policies and programs we pick for our clients. The values that hold our company is a combination of excellence, innovation, accountability, and commitment. At Al Hamraa Insurance we compel to be loyal to our client’s stakeholders and their employees as we believe that human assets are our greatest strength.
In a world filled with threats, we seek to build a closed-loop infrastructure to secure and maintain the sensitive data and information that already exists and ensure their safety from future risks and vulnerabilities. Thus, data integrity is the backbone of our company and our main priority.
Al Hamraa Insurance offers a variety of cost-effective and advanced solutions for its clients. It recognizes the extent to which our clients value their life, properties, and business, and it is aware of their need to secure them against unexpected losses and damages. The various services we offer vary between life products and general insurance products.
Our life product insurance policies include life insurance, personal accident insurance, health insurance, and travel insurance. On the other hand, our general insurance policies have covered the smallest to the most considerable details that may encounter the client's business and might cause threats and risks to these businesses. Al Hamraa general insurance policies cover property insurance, machinery insurance, fire insurance, marine insurance, all types of engineering and construction insurance, cash in transit insurance, aviation, marine, and last but not least employee and employer’s liability insurance. The extensive detailed packages we have prepared for our clients come from our affirmation of the need that we must be ready for minor gaps and be aware of the vulnerability aspects of our client’s life and business.
Our future vision rests on the belief that we will be able to become the leading insurance company in Iraq while taking a major role in the economic development and we aim to attain Iraq a place among the developed countries in terms of being aware of the importance of insurance with the various services we provide. This constant dedication towards improving our services to the clients is what sets us apart from others in this field.
