Financial products are important regardless of your economic situation. This is the premise that started Democrance.
“Democrance aims at democratizing insurance by making it accessible and affordable to the low-income population of MENA,” explained founder, Michel. “We are an Insurance Technology provider that enables insurance companies to access underserved consumers through mobile phones.”
Having lived in the UAE and other countries in the past 10 years, Michel is passionate about tapping into the low-income population – which makes up a huge chunk of the UAE consumer group.
As one of Forbes’ 50 most promising UAE Startups, Democrance is set to take the insurance to the next level.
“The uniqueness of our business model played a role,” said Michel. “We also have a great product and team. That may have helped.”