Democrance is an insurance marketplace for underserved customers

Country: United Arab Emirates

Year: 2015

Concept

  • Democrance is an insurance marketplace for underserved customers in the MENA region
  • Democrance builds partnerships between telecommunication and insurance companies to make insurance accessible for those who need it most but can afford it the least.
  • Through the use of technology, Democrance reduces the distribution and operational costs of the insurance value chain while simultaneously opening up new revenue and distribution channels for their partners.

Consumer Benefits

  • Multi-purpose platform: Insurers leverage on Democrance’s proprietary mobile InsurTech platform for sales, premium collection & claims management
  • Mobile-first, digital-only: Insurers access customers via their mobile phone and administer insurance policies via a fully digital and automatized platform without impacting their core systems

How to use

  • The solution is available on mobile devices

Illustration