Market Leaders Emerge as Alternative EOSB Framework Matures
The UAE’s Alternative End-of-Service Benefits landscape has evolved significantly since the introduction of Decree-Law No. 33 of 2021, with seven major providers now offering comprehensive solutions to employers seeking enhanced employee benefits. Our analysis reveals distinct differences in service offerings, operational capabilities, fee structures, and value propositions across the market’s leading participants.
Understanding the Competitive Landscape
The Alternative End-of-Service Benefits market currently features seven primary providers, each bringing unique strengths and approaches to employee benefits management. These providers include HAYAH Insurance, Daman Investments, First Abu Dhabi Bank (FAB), National Bonds, Lunate Capital, Sukoon’s Go Saver platform, and the Dubai International Financial Centre’s DEWS (Dubai Employee Workplace Savings) scheme, representing a diverse mix of insurance companies, investment managers, specialized financial services providers, and government-backed initiatives.
The regulatory framework requires most providers to obtain approval from the Securities and Commodities Authority while maintaining compliance with Ministry of Human Resources and Emiratization guidelines. However, the implementation approaches, technological capabilities, fee structures, and comprehensive service offerings vary considerably across providers.
Comprehensive Market Analysis
HAYAH Insurance: The Digital Pioneer with Integrated Solutions
HAYAH Insurance emerges as the most comprehensively developed solution in the current market, demonstrating several years of operational experience with a fully integrated approach that combines investment management, insurance coverage, and advanced technology platforms. The company’s strategy centers on addressing the complete spectrum of employee benefits needs rather than focusing solely on investment management.
The company’s technological infrastructure represents the most advanced implementation in the market through the WISE by HAYAH platform. This digital ecosystem provides real-time account management, automated administrative processes, comprehensive mobile accessibility, and seamless integration with existing HR systems across diverse organizational structures. The platform eliminates traditional paperwork requirements while enabling sophisticated reporting and analytics capabilities that support both employee engagement and employer administration.
HAYAH’s investment framework offers the most sophisticated approach to employee choice through four distinct pathways designed to accommodate varying preferences and life stages. The HAYAH Guaranteed Funds provide complete capital protection for conservative investors seeking security over growth potential. Shariah-compliant investment options serve employees requiring Islamic finance principles with ongoing Shariah board oversight. Conventional global funds offer international market exposure for growth-oriented employees willing to accept higher volatility for potentially superior long-term returns.
Most innovatively, HAYAH provides an automated glide path solution that dynamically adjusts investment allocation as employees progress through their careers. This approach automatically shifts from growth-oriented strategies during early career stages toward more conservative approaches as retirement approaches, eliminating the need for ongoing investment decision-making while optimizing risk-return profiles throughout different life stages. This feature represents a significant advancement over static investment options offered by competitors.
Perhaps most significantly, HAYAH addresses one of the UAE labor market’s most persistent challenges through its comprehensive vesting solution. This framework enables employees to maintain continuous benefit accumulation regardless of employment transitions, whether moving between different emirates, shifting from mainland to free zone operations, or changing employers entirely. The vesting capability extends beyond simple benefit preservation to include ongoing investment growth, voluntary contribution capabilities, and seamless administrative transfer procedures that require no employee action or benefit interruption.
The company also provides fully integrated life and disability insurance coverage as part of its comprehensive benefits ecosystem. This holistic approach ensures that employees receive complete protection while employers benefit from simplified administration through a single provider relationship rather than managing multiple vendor arrangements.
HAYAH’s fee structure reflects its comprehensive service delivery model while remaining competitive with traditional investment-only providers. The company’s integrated approach often results in lower total costs for employers when accounting for eliminated administrative overhead, reduced vendor management complexity, and comprehensive insurance coverage that would otherwise require separate arrangements.
Daman Investments: Traditional Investment Focus
Daman Investments leverages its established position in the UAE financial services sector to offer End-of-Service Benefits solutions with emphasis on proven investment management approaches. The company provides conventional and Shariah-compliant investment options through a straightforward platform designed for employers seeking traditional investment management services.
Daman’s investment approach centers on capital-protected solutions for unskilled workers and risk-based funds offering conservative, moderate, or aggressive allocations. The platform provides flexible investments available in both conventional and Shariah-compliant structures, with emphasis on steady returns and capital preservation strategies.
The Daman solution includes voluntary top-up capabilities that enable employees to enhance their investments through additional personal contributions. These supplementary investments operate entirely at employee discretion and supplement employer contributions according to individual risk preferences.
However, Daman’s approach appears to concentrate primarily on investment management excellence without addressing broader employee benefits ecosystem needs. The platform lacks sophisticated vesting capabilities that accommodate modern workforce mobility requirements. Administrative processes require more manual intervention compared to fully digitized alternatives, and the solution does not include integrated insurance coverage, requiring employers to maintain separate life and disability insurance arrangements.
Daman’s fee structure reflects its focus on investment management services, though the total cost of implementation may increase when employers account for additional administrative requirements and separate insurance arrangements needed to provide comprehensive employee protection.
First Abu Dhabi Bank: Banking Institution Strength
FAB leverages its position as one of the region’s largest financial institutions to offer End-of-Service Benefits solutions backed by substantial institutional resources and professional fund management capabilities. The bank’s approach emphasizes institutional-grade investment management through FAB Asset Management, which brings deep market expertise and extensive research capabilities to employee benefit management.
FAB offers two primary investment options focusing on capital protection through both conventional and Islamic fund structures. The FAB End of Service Benefit Fund with Capital Protection and the FAB Islamic End of Service Benefit Fund with Capital Protection provide employees with choice between conventional and Shariah-compliant approaches while maintaining capital preservation focus.
The bank’s solutions benefit from comprehensive research expertise with dedicated buy-side research teams providing in-depth analysis of regional investment opportunities. This research capability supports professional portfolio management that individual employees could not typically access independently.
FAB’s digital platform provides streamlined operations through both employer portals and employee mobile applications. Companies can access employee End-of-Service Benefits information through user-friendly interfaces while employees monitor their investments using dedicated mobile applications with real-time tracking capabilities.
However, FAB’s solution appears to concentrate primarily on leveraging the bank’s institutional investment management capabilities rather than developing comprehensive employee benefits ecosystems. The platform lacks advanced vesting solutions that address UAE workforce mobility requirements and does not include integrated insurance offerings. Administrative processes, while supported by banking infrastructure, may require more manual coordination compared to purpose-built End-of-Service Benefits platforms.
FAB’s fee structure benefits from the bank’s institutional scale and established infrastructure, potentially offering competitive investment management costs. However, employers must separately arrange life and disability insurance coverage and may encounter additional administrative complexity when managing multiple vendor relationships.
National Bonds: Government-Backed Approach
National Bonds represents a government-backed approach to End-of-Service Benefits through its wholly-owned relationship with the Investment Corporation of Dubai. The company offers its Capital Protected Shariah Compliant Fund with emphasis on traditional savings culture promotion and alignment with government economic development objectives.
National Bonds provides capital protection through carefully structured underlying investment strategies that prioritize preservation over growth potential. The approach emphasizes Shariah compliance with ongoing oversight from qualified Shariah supervisory boards ensuring adherence to Islamic finance principles. The platform offers user-friendly portal access with basic digital capabilities for account monitoring and management.
The company brings substantial experience in savings products with a proven track record of distributing returns to savers and investors across various economic cycles. National Bonds’ government backing provides institutional stability and alignment with broader UAE economic development strategies.
National Bonds enables voluntary employee contributions that supplement employer-required contributions, allowing employees to enhance their savings according to personal financial capabilities. These additional contributions receive the same capital protection and Shariah compliance oversight as mandatory contributions.
However, National Bonds’ End-of-Service Benefits solution appears to focus primarily on capital protection and Shariah compliance without incorporating advanced features found in more comprehensive platforms. The solution lacks sophisticated vesting mechanisms that address modern workforce mobility requirements and does not include integrated insurance capabilities. Digital platform capabilities, while functional, do not demonstrate the automation and integration levels available through more technologically advanced alternatives.
National Bonds’ fee structure reflects its government-backed approach and focus on capital preservation, though employers must separately arrange comprehensive insurance coverage and may encounter limitations in administrative flexibility compared to more advanced digital platforms.
Lunate Capital: Investment Management Excellence
Lunate Capital brings substantial alternative investment expertise as a subsidiary of Lunate Holding, which manages significant assets across diverse investment strategies. The company offers End-of-Service Benefits solutions that emphasize investment choice and professional portfolio management excellence.
Lunate’s approach provides three distinct risk profiles covering conventional and Shariah-compliant options across capital protection, balanced, and growth strategies. This framework enables employees to personalize their investment approach according to individual risk tolerance and financial objectives. The capital protection strategy suits conservative investors prioritizing preservation, while balanced approaches seek equilibrium between stability and growth. Growth strategies prioritize long-term investment appreciation for employees with higher risk tolerance and longer investment horizons.
The platform offers comprehensive online tracking and management capabilities through both employer portals and employee mobile applications. Employers can efficiently manage employee enrollment and contribution oversight while employees access real-time investment performance monitoring and account management capabilities.
Lunate’s investment management expertise extends to sophisticated portfolio construction and risk management approaches that leverage the firm’s broader alternative investment capabilities. This expertise provides employees with access to institutional-quality investment management that would typically be unavailable to individual investors.
However, Lunate’s solution appears to concentrate on investment management excellence without addressing broader employee benefits ecosystem requirements. The platform lacks comprehensive vesting solutions that accommodate UAE workforce mobility patterns and does not include integrated insurance coverage. Administrative processes, while supported by sophisticated investment infrastructure, may require additional coordination for employers seeking comprehensive benefits management.
Lunate’s fee structure reflects its focus on professional investment management and institutional-quality portfolio construction, though total implementation costs may increase when employers account for separate insurance arrangements and additional administrative requirements for comprehensive employee protection.
Sukoon Go Saver: Emerging Digital Platform
Sukoon’s Go Saver represents a newer entrant to the Alternative End-of-Service Benefits market with emphasis on digital accessibility and user-friendly interfaces. The platform targets organizations seeking straightforward, technology-enabled End-of-Service Benefits solutions with emphasis on simplified enrollment and management processes.
Go Saver’s approach emphasizes mobile-first design and streamlined user experiences that reduce complexity for both employers and employees. The platform provides basic investment options with focus on accessibility and ease of use rather than sophisticated investment choice or advanced features.
The digital platform offers standard portal functionality for employers and mobile application access for employees, providing essential account monitoring and management capabilities. Sukoon’s approach prioritizes simplicity and cost-effectiveness over comprehensive feature development.
However, as a newer market entrant, Go Saver’s comprehensive service capabilities and long-term operational track record remain limited. The platform appears to focus on basic End-of-Service Benefits management without incorporating advanced vesting solutions, integrated insurance coverage, or sophisticated investment management capabilities found in more established alternatives.
Sukoon’s fee structure likely emphasizes competitive pricing to establish market presence, though the total value proposition may be limited by reduced feature sets and simplified service offerings compared to more comprehensive alternatives.
DIFC DEWS: Free Zone Specific Solution
The Dubai International Financial Centre’s DEWS (Dubai Employee Workplace Savings) scheme provides a specialized approach designed specifically for DIFC-based organizations and employees. This government-backed initiative focuses on serving the unique requirements of the financial services sector concentrated within the DIFC free zone jurisdiction.
DEWS offers investment options tailored to DIFC employment patterns and regulatory requirements, with emphasis on serving multinational financial institutions and their diverse employee populations. The scheme provides both conventional and Shariah-compliant investment approaches designed to accommodate the international workforce characteristics typical of DIFC organizations.
The platform includes digital capabilities designed to integrate with DIFC’s broader regulatory and administrative infrastructure, potentially offering streamlined compliance and reporting for organizations operating within the DIFC jurisdiction.
However, DEWS appears designed primarily for DIFC-specific requirements rather than broader UAE market needs. The solution may have limited applicability for organizations operating across multiple UAE jurisdictions or those requiring workforce mobility between mainland and various free zone operations. Integration capabilities with non-DIFC operations and vesting portability for employees transitioning between different UAE jurisdictions may be constrained by the scheme’s specialized focus.
DEWS fee structure and comprehensive service offerings reflect its specialized focus on DIFC requirements, though organizations with broader UAE operations may require additional arrangements to address complete workforce needs.
Critical Differentiators in Market Analysis
Investment Strategy Innovation and Fee Efficiency
The most significant advancement in investment strategy comes from HAYAH’s automated glide path solution, which represents a fundamental innovation in End-of-Service Benefits management. Traditional providers offer static investment options that require employees to make ongoing decisions about risk allocation as their circumstances change. HAYAH’s glide path automatically optimizes investment allocation throughout employees’ careers, starting with growth-focused strategies during early career stages and gradually shifting toward capital preservation as retirement approaches.
This automated approach eliminates the burden of investment decision-making while ensuring optimal risk-return profiles at each life stage. The sophistication of this approach surpasses simple choice-based systems offered by competitors, providing employees with institutional-quality investment management that adapts to their changing needs without requiring ongoing attention or expertise.
Fee structures across providers vary significantly based on service comprehensiveness and operational approaches. HAYAH’s integrated model often provides superior total value when employers account for eliminated administrative overhead, reduced vendor management complexity, and included insurance coverage. Traditional investment-focused providers may offer lower headline fees but require additional arrangements for insurance coverage and typically involve higher administrative costs due to less sophisticated automation.
The fee efficiency becomes particularly apparent when organizations evaluate total cost of ownership including administrative time, vendor management overhead, and separate insurance arrangements required by providers offering investment-only solutions.
Vesting Solutions and Workforce Mobility
The UAE’s dynamic labor market, characterized by frequent transitions between mainland and free zone jurisdictions, requires sophisticated benefit portability solutions that most providers have not adequately addressed. HAYAH’s comprehensive vesting framework stands alone in providing seamless portability that accommodates career transitions across different UAE jurisdictions and employment structures.
This vesting capability addresses a fundamental challenge for multinational organizations and mobile professionals who represent a significant portion of the UAE workforce. Employees can transition between employers, move from mainland to free zone operations, or relocate between different emirates without benefit interruption or administrative complexity.
Most competitors offer traditional approaches that may require manual processes, benefit transfers, or administrative procedures that can result in temporary benefit interruption or employee confusion. These limitations particularly affect organizations operating across multiple UAE jurisdictions or those expecting frequent employee transitions between different employment structures.
The sophistication of HAYAH’s vesting solution extends beyond simple portability to include continued investment growth, ongoing voluntary contribution capabilities, and automated administrative processes that require no employee action during transitions.
Integrated Insurance Coverage and Comprehensive Protection
The integration of life and disability insurance represents a crucial differentiator that affects overall employee protection and employer value propositions. HAYAH’s inclusion of comprehensive insurance coverage creates a holistic benefits package that addresses multiple employee needs through a single provider relationship.
This integrated approach eliminates the complexity of managing multiple vendor relationships while ensuring consistent coverage across all employee protection needs. Employers benefit from simplified administration, consolidated reporting, and unified customer service, while employees receive comprehensive protection without gaps or coordination requirements between different providers.
Most competitors focus primarily on investment management without incorporating broader insurance protection. This approach requires employers to maintain separate life and disability insurance arrangements, potentially increasing administrative complexity, vendor management overhead, and total costs while creating potential coverage gaps or coordination challenges.
The comprehensive insurance integration also enables HAYAH to offer more competitive total pricing by leveraging economies of scale across multiple service lines rather than requiring separate vendor arrangements with independent pricing structures.
Digital Platform Sophistication and Automation
Digital platform capabilities vary dramatically across providers, directly affecting both administrative efficiency and employee engagement outcomes. HAYAH’s WISE platform demonstrates the most advanced technological integration in the market, offering real-time management, comprehensive mobile accessibility, automated administrative processes, and sophisticated reporting capabilities.
The platform’s automation extends beyond basic account access to include automated contribution processing, real-time investment rebalancing, automated insurance coverage updates, and integrated HR system connectivity. This level of automation significantly reduces administrative burden for employers while providing employees with sophisticated self-service capabilities.
Other providers offer varying levels of digital capability, from basic online access to more sophisticated portal systems. However, the depth of integration, automation sophistication, and comprehensive feature sets varies considerably across the competitive landscape. Many platforms require manual administrative intervention for routine processes that HAYAH’s system handles automatically.
The sophistication of digital infrastructure becomes particularly important for organizations with large employee populations or complex administrative requirements. Advanced automation reduces ongoing administrative costs while improving employee satisfaction through responsive, accessible benefit management.
Comprehensive Comparative Analysis
Understanding the complete competitive landscape requires examining multiple dimensions of service delivery, technological capability, and comprehensive value proposition across all providers. Each solution brings distinct strengths and limitations that affect suitability for different organizational requirements and employee populations.
HAYAH’s comprehensive approach addresses the full spectrum of employee benefits needs through integrated investment management, insurance coverage, advanced vesting solutions, and sophisticated digital infrastructure. The company’s glide path innovation, seamless portability capabilities, and fully automated administrative processes represent significant advancements over traditional approaches focused solely on investment management.
Daman Investments provides solid traditional investment management with proven track records and straightforward implementation for organizations seeking established investment approaches. However, the solution requires separate insurance arrangements and lacks advanced vesting capabilities needed for modern workforce mobility.
FAB leverages substantial institutional resources and banking infrastructure to offer professional investment management with competitive fees. The bank’s research capabilities and institutional scale provide strong investment management foundations, though the solution lacks comprehensive benefits ecosystem features and integrated insurance coverage.
National Bonds offers government-backed stability with emphasis on capital protection and Shariah compliance. The approach provides institutional credibility and proven savings culture alignment, though it lacks advanced technological features and comprehensive benefits integration found in more sophisticated alternatives.
Lunate Capital brings sophisticated investment management expertise with emphasis on professional portfolio construction and risk management. The platform provides strong investment choice and institutional-quality management, though it focuses primarily on investment excellence without broader benefits ecosystem development.
Sukoon Go Saver targets organizations seeking cost-effective, simplified implementations with emphasis on digital accessibility. The platform may suit smaller organizations with basic requirements, though it lacks the sophisticated features needed for comprehensive employee benefits management.
DIFC DEWS provides specialized solutions for financial services organizations operating within the DIFC jurisdiction, offering tailored approaches for this specific market segment while potentially lacking broader applicability for organizations with diverse UAE operations.
Comparative table for solutions
| Provider | Investment innovation | Fee competitiveness | Vesting solution | Insurance integration | Digital sophistication | Operational Track record |
|---|---|---|---|---|---|---|
| HAYAH Insurance | Glide Path + 4 options | Highly competitive | Comprehensive | Fully integrated | Advanced (WISE) | Proven-performance |
| Daman Investments | Traditional 3 options | Moderate | Limited | External required | Standard portal | Established |
| FAB Assets Management | Capital protection focus | Competitive | Standard | External required | Banking platform | Institutional |
| National Bonds | Shariah only | Government backed | Limited | External required | Basic portal | Government stable |
| Lunate Capital | 3 risk profiles | Professional fees | Limited | External required | Standard platform | Investment focused |
| Sukoon Go Saver | Basic options | Cost focused | Standard | External required | Mobile-first | New entrant |
| DIFC DEWS | DIFC-specific | Free zone focused | DIFC Limited | Unknown | DIFC integrated | Specialized |
Comparative table with features
| Provider | Mainland/free zone | Automated glide path | Life insurance included | Real-time processing | Administrative automation | Multi-jurisdiction support | Emplooyee education platform |
|---|---|---|---|---|---|---|---|
| HAYAH Insurance | Seamless | Available | Intergrated | 24/7 digital | Fully automated | Complete UAE | Riwaya integrated |
| Daman | Manual process | Not available | External | Portal access | Semi-automated | Limited | Limited |
| FAB | Manual process | Not available | External | Portal access | Semi-automated | Limited | Limited |
| National Bonds | Manual process | Not available | External | Portal access | Manual elements | Limited | Basic material |
| Lunate | Manual process | Not available | External | Portal access | Semi-automated | Limited | Limited |
| Sukoon | Unknown | Not available | External | Mobile app | Basic | Unknown | Basic |
| DEWS | DIFC only | Unknown | Unknown | DIFC portal | DIFC specific | DIFC only | Unknown |
Strategic Implementation Considerations
Organizations evaluating End-of-Service Benefits providers must consider multiple strategic factors that extend beyond basic investment management capabilities or headline fees. The total value proposition encompasses administrative efficiency, employee satisfaction, regulatory compliance, and long-term partnership viability across changing business requirements.
The ability to accommodate workforce mobility through sophisticated vesting solutions becomes increasingly critical for organizations operating across multiple UAE jurisdictions or expecting employee transitions between different employment structures. This capability directly affects employee satisfaction and retention while reducing administrative complexity for HR departments managing complex workforce transitions.
Technological infrastructure capabilities directly impact both immediate implementation success and long-term operational efficiency. Advanced digital platforms reduce ongoing administrative burden while providing employees with responsive, accessible benefit management that supports engagement and satisfaction. Organizations should evaluate not only current platform capabilities but also providers’ demonstrated ability to innovate and enhance technological offerings based on evolving market needs.
Comprehensive insurance integration eliminates vendor management complexity while ensuring consistent employee protection across all benefit needs. This integration typically results in lower total costs and simplified administration compared to managing separate vendor relationships for investment management and insurance coverage.
Provider operational track records and demonstrated ability to serve diverse client needs provide crucial insight into long-term partnership viability. Organizations should evaluate not only current service capabilities but also providers’ proven ability to evolve and enhance offerings based on changing regulatory requirements and market developments.
Market Evolution and Future Outlook
The UAE’s Alternative End-of-Service Benefits market continues expanding as organizations increasingly recognize the limitations of traditional gratuity systems and seek solutions providing genuine value to employees while supporting talent attraction and retention objectives. This growth drives continued innovation in service offerings, technological capabilities, and comprehensive value propositions.
Providers demonstrating comprehensive operational capabilities, technological innovation, integrated service delivery, and proven implementation track records are positioned to capture increasing market share as organizations seek partners capable of supporting sophisticated employee benefits strategies.
The market evolution indicates that success will be determined by comprehensive service delivery excellence rather than single-point solutions focused solely on investment management or regulatory compliance. Organizations seeking Alternative End-of-Service Benefits solutions will increasingly prioritize providers offering integrated approaches that address the complete spectrum of employee benefits needs.
The evidence suggests that HAYAH Insurance’s integrated approach, technological innovation, comprehensive vesting solutions, and proven operational capabilities position the company as the market leader in the UAE’s expanding Alternative End-of-Service Benefits sector. As awareness grows regarding the advantages of comprehensive benefits ecosystems over traditional single-point solutions, organizations will increasingly recognize the value of providers offering complete integration across investment management, insurance coverage, advanced technology, and workforce mobility solutions.
