back Back

3 InsurTech platforms disrupting the insurance industry in UAE

By Delisha Fernandes

April 10, 2024

  • Click2Secure Me
  • Data Analytics
  • Democrance
Share

InsurTech

The InsurTech market is booming in the UAE. Many companies and startups are getting into the insurance space using technology. InsurTech is a merger of two words, “insurance” and “technology”, inspired by the word “FinTech”. It solely means using technology innovations designed to drive efficiency and savings from the current industry model.

InsurTechs tackle diverse insurance distribution challenges by using technology to create new distribution channels, simplify distribution processes, and provide better customer experiences. They use data analytics to identify customer needs and preferences and offer personalised insurance products and services to the underserved. By automating underwriting and claims processing, InsurTechs reduce costs and increase efficiency.

Mentioned below are 3 InsurTech platforms disrupting the insurance industry in UAE:

Click2Secure Me is an Insure-Tech Platform where creators are building the digital insurer and helps insurers put their digital transformation on the fast track in Middle East Region. Insurance companies use Click2Secure Me to build and continuously improve mobile and web apps that drive business innovation. Our platform is uniquely designed to support rapid, iterative development by a broad range of users while ensuring that IT retains control. The platform integrate seamlessly with existing legacy systems using our Connector Kit and messaging services based on industry protocols such as Acord.

Democrance helps insurers and insurance brokers to increase digital sales and access new markets. Headquartered in Dubai, UAE and operating across the Middle East and Africa, South-East Asia and Latin America, Democrance works with insurers, mobile operators and other industries to offer insurance and protection to the underinsured and uninsured population of emerging markets. With its SaaS platform, partners are able to enhance their digital sales mechanisms by automating workflows, and increase their operational efficiency and profitability in the insurance market.

Sehteq is a technology-driven, health insurance startup based in Dubai. Sehteq received a $20 million in series A funding in August 2020. The company provider value-based health insurance to individuals, families and enterprises in UAE. The product range is $150-500 per member per year.

ALSO READ: Wealth Management & Private Banking Systems Report Q1 2024

Previous Article

April 10, 2024

FinTech funding trends: Digital payments reign supreme in India, Neobanks and InsurTech on the rise

Read More
Next Article

April 10, 2024

Spendesk acquires Okko to integrate procurement and spend management

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Click2Secure Me

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Erste Bank Hungary taps Companjon to offer flight delay insurance

Read More

May 17, 2024

INSTANDA & UnderwriteMe team to transform life insurance with no-code tech

Read More

May 15, 2024

Dutch digital bank Bunq enters the insurance market

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023