back Back

INSTANDA enters the UAE through partnership with NewTechMe

By Leandra Monteiro

September 22, 2021

  • Instanda
  • Insurance
  • Middle East
Share

INSTANDA INSTANDA, a customer and policy management platform for the insurance industry, has successfully started working with a new client and partner in UAE, NewTechMe.

NewTechMe is an insurance broker established through a strategic partnership between The Private Office of Sheikh Saeed Bin Ahmed Al Maktoum, and carefully chosen insurance industry veterans. As well as building various affinity schemes, for example motor insurance with Khaleej Times and Contractor’s Plant and Equipment insurance with a high growth start-up, they are also focused on developing tailored health insurance, using AI, ML and Data Science to plug a specific gap in the insurance marketplace in UAE.

By carrying out training on their platform, INSTANDA has enabled NewTechMe to create their own digital insurance products, to be distributed to UAE customers either directly or via other affinity channels. Technological solutions provided by INSTANDA will allow NewTechMe to build a digital arm to bring to market new and existing products at speed.

The partnership is a first for INSTANDA in the Middle East and will aim to serve as a launch pad for other partnerships in the region. It is also a demonstration of INSTANDA’s continued global expansion, following the announcement of the partnership with Standard Bank South Africa last year.

Tim Hardcastle, CEO & Founder of INSTANDA comments, “We are excited to be entering the insurance marketplace in the Middle East and to be partnering with an insurance intermediary not only committed to their own digital innovation but also in the UAE insurance space.”

“They needed a partner who understood their ambitions to offer innovative products to customers in this region and INSTANDA’s unique solutions and increasing global footprint was a perfect fit. We believe that our offering will add value to NewTechMe and help deliver their digital goals.”

Vaibhav Kashyap, Director, Strategy and Innovation of NewTechMe, “The idea for a new digital offering has come about due to a very strong need to rejuvenate and innovate within the insurance space, particularly in the UAE insurance marketplace, where there is a race to embrace technology and catch up with more developed markets.”

“We also see that COVID has had a huge impact on the region, especially in terms of ways of working. Our health product is hoping to tap into the newfound acceptance for remote working, monitoring, digital healthcare for example and to improve customer experience and insurer outcomes. INSTANDA quickly grasped this and our vision for a digital arm that can bring to market new and existing products at speed. We are certain that their platform will enable to us move quickly, speed up market progress and achieve what we set out to do.”

Previous Article

September 22, 2021

SphynxSwap announces a partnership with CertiK International

Read More
Next Article

September 22, 2021

TransferMate selects ComplyAdvantage for AML and risk screening

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

Instanda

Security experts sound the alarm on Deepfake threats in the age of AI

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

April 12, 2024

Genesis launches Credit Insurance Application

Read More

April 10, 2024

3 InsurTech platforms disrupting the insurance industry in UAE

Read More

April 10, 2024

Insurtech Novidea secures $30m to boost organic expansion

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 Q4 2023
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