UAE - Insurance Tech firm Aqeed Launched
Wednesday, 05 09 2018, Category: Technology, Country: U.A.E
Aqeed, an insurance tech platform, has officially launched in the U.A.E. after securing about $18 million in Series A funding.
The funding, which was one of the largest amount that was raised by an insurance tech firm, will help Aqeed.com penetrate the U.A.E. and Saudi markets, hire the right staff and invest in the latest insurance technology.
Founded by the shareholders behind Barents, an international Reinsurance group, and Equitrust, a part of advertising firm Choueiri Group, Aqeed aims to help the users sort through the right insurance options.
“Our aim is to go beyond the traditional and online distribution model and invest heavily in bringing the latest InsureTech innovation, from artificial intelligence, machine learning, Internet of Things, telematics, as well as business process enhancement and automation,” said Rachid Abi Nader, CEO of Aqeed.
The company claims that the new platform will allow users to “understand, manage and buy insurance in an easy and transparent manner.”