Union Insurance Signs Strategic Agreement with Copart UAE Auctions

Union Insurance Signs Strategic Agreement with Copart UAE Auctions

New Partnership ensures seamless automated process for salvage management

Dubai, UAE – June 6, 2024 – Union Insurance Company (PJSC), a leading provider of innovative customer-focused insurance solutions to individuals and corporations in the UAE, has signed a strategic agreement with Copart UAE Auctions to provide automated vehicle auction services ensuring seamless process for salvage management.

The agreement will see Copart managing the auctioning of Union Insurance’s salvage vehicles through its unique online platform, thereby enhancing efficiency and expanding the reach of their auctions.

Commenting on the new partnership, Ramez Abou Zaid, Chief Executive Officer of Union Insurance Company, said: “We are pleased to partner with Copart, an internationally recognized provider of efficient salvage management services. We are confident that their solution will contribute significantly to our goal of ptimizing motor salvage management.”

Copart will deliver a comprehensive suite of services, encompassing vehicle promotion, secure storage, and expert sales management. This partnership harnesses Copart’s unmatched expertise in online vehicle auctions to drive efficiency and deliver exceptional value to customers.

Colin Cordery, Managing Director of Copart, added: “We are honoured to partner with Union Insurance, a respected name in the sector. Together, we aim to streamline the digitally automated auction process, offering a seamless experience for our over 10,000 registered buyers.”

The new partnership marks the culmination of Union’s motor insurance digital transformation journey, beginning with online purchase of motor policies, through end-to-end digital claims process and now extending to disposal of vehicle salvage.

-Ends-

About Union Insurance Company

Established in 1998 and listed on the Abu Dhabi Securities Exchange, Union Insurance Company is regulated by the UAE Central Bank and has a paid up capital of over AED 330 million. The company provides a wide range of individual and commercial insurance products to clients in the UAE.

About Copart

Founded in 1982 with a single salvage yard in California, Copart has grown into a global leader and the premier source for online vehicle auctions. Copart’s innovative technology and online auction platform link Buyers and Sellers around the world. Headquartered in Dallas, Texas, Copart currently operates more than 200 locations in 11 countries and has more than 175,000 vehicles up for auction every day.

As the premier global online vehicle auction company, Copart puts the power to bid and win in your hands.

For more information, visit copartmea.com