Aqeed.com a website that prides itself as the “First InsureTech Specialist” in the Middle East, is now up and running. The company recently wrapped up a very successful Series A round of funding that added $18 million to its pockets.
The website aims to facilitate a simple, accessible, and transparent platform to users where they can understand and choose the insurance options best suited to their needs.
The company behind Aqeed.com mentioned that its goal is to disrupt the way in which people purchase insurances. Aqeed.com aims to emerge as an all-encompassing platform for buying and managing insurance schemes from a practically limitless portfolio of insurance companies.
“As an InsureTech veteran myself, Aqeed does not only addresses problems common to the insurance market, but the concept goes over and beyond insurance aggregators currently in place. Indeed, the team we have put in place for Aqeed has tremendous expertise in both the insurance and technology fields,” said Rachid Abi Nader, CEO of Aqeed.
He added, “We aim 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.”
Aqeed was founded by a collaboration of Barents shareholders and Equitrust. For the uninitiated, Barents is an A-rated global reinsurance group, whereas Equitrust is a member of one of MENA’s largest media and advertising group, Choueiri.