Insurtech Startups that Boost Insurance Accessibility in UAE

Insurance is an important aspect of one’s financial and social well-being. Modern technology facilitates and improves universal access to different insurance types and helps both sides settle claims seamlessly. In the UAE, health insurance is mandatory, so insurtech services target literally every Emirati citizen. 

Insurtech Startups that Boost Insurance Accessibility in UAE

Benefits of Insurtech

Insurtech tools drive efficiency, enhance customer experiences, and foster innovation in the insurance industry. Tech innovations in this field enable tailored insurance products and pricing strategies, novel insurance models like peer-to-peer or on-demand insurance. 

Numerous insurance marketplaces facilitate the comparison of various insurance policies, providers, and payment plans. Furthermore, insurtech platforms dedicate a lot of time to improving personalized and user-friendly experiences for customers. This includes faster quotes, simplified claims processes, data-driven recommendations, mobile access and more. 

For insurers, advanced data analytics provides better audience insights, more precise claim evaluation, improved efficiency and enhanced decision-making. Besides, tech automation reduces manual processes in insurance, cutting administrative costs and limiting business risks. 

Insurtech in UAE

The insurance market is thriving in the UAE. As of 2022, local insurance market size had a value of USD$12.9 billion, based on the gross written premium (GWP) data. Insurtech solutions cater to a large share of this market. The UAE insurtech scene is one of the fastest growing ones in the region.

Traditional insurers, reinsurers, and other stakeholders in the ecosystem do not often collaborate with insurtech startups in the UAE to boost the existing market proposition. Therefore, the quality and innovation available at traditional insurance companies may drastically differ from the insurtech offerings. 

However, the growing interest in advanced insurance technologies has led to emerging intra-sector collaboration in the form of pilot projects, proof of concepts, incubator or accelerator programs, etc.

Here are some of the most prominent UAE insurtech startups. 


The company provides insurance and HR solutions for businesses and individuals. Bayzat offers services such as insurance comparison, policy management, automated payouts, recruitment solution, payroll and bookkeeping integration, employee performance records, benefits administration, and more. As for the insurance types available on the platform, there’s group health, vehicle, term-life and maternity insurance. Bayzat collaborates with the trusted UAE insurance providers such as Cigna, GIG Gulf, Daman, Aetna, etc. The comparison tool enables one to choose between verified cheap and premium policies. Besides, the platform provides a great deal of automation to employers since its OCR tech automatically extracts the information needed from existing documents. Medical insurance certificates can be downloaded directly from Bayzat HR Management Platform as well.


Recognized as one of the Future 100 enterprises in the UAE, Democrance labels itself as a B2B data-enabled, white-label SaaS plug-and-play insurance and finance technology platform. The company works in over 16 countries across the Middle East, Africa, Asia-Pacific, Latin America and other regions. Its offering includes 50 Life, P&C and Health products and 15+ million various insurance policies. The cloud platform enables embedding insurance products into the ecosystems of different distribution partners like super apps, online aggregators, mobile wallets, mobile network operators (MNOs), HR platforms, retailers, money transfer operators (MTOs), microfinance institutions (MFIs), or governments. Besides, it provides the benefits of real-time underwriting, quoting, binding, policy issuance, endorsements and claims (FNOL). 


One of the top alternative lenders in the UAE, has helped numerous users to find and compare credit cards, personal loans, mortgages, car loans, insurance, and bank accounts from both local and international financial institutions. Moreover, yallacompare users may get free access to exclusive offers from leading banks and financial institutions not available to the general public. Its insurance offering includes dental care, car, health, travel, home, life, pet, jewelry, SME insurance and car warranty from multiple providers. When customers find the right insurance policy, they can use the platform’s secure checkout to immediately buy it online.


Addenda uses artificial intelligence technology (AI) to streamline motor insurance and vehicle repair. It allows motor insurers, brokers, repairers, workshops, OEMs & parts suppliers to manage policy renewals, FNOL, repair updates, car valuation, RSA and towing, NPS, and more. The company’s First Notice of Loss solution instantly captures images and documents with AI significantly facilitating the claim submission process. The AI engine also supports accurate damage capture and categorization.

PolicyBazaar is a well-known online insurance aggregator in India, and it has recently expanded its operations to the UAE. This convenient transparent platform allows users to compare and purchase various insurance products, including health insurance, life insurance, car insurance, term insurance, and more. Besides insurance, it offers comparison of financial products e.g. personal loans or credit cards. 

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.