Democrance
Founded in 2015, Democrance is a B2B SaaS company that offers a technology platform enhancing digital insurance sales and market access for insurers and brokers globally.
Company Overview
Founded in 2015, Democrance operates in over 16 countries across the Middle East, Africa, Asia-Pacific, Latin America, and beyond. The company offers a B2B data-enabled, white-label SaaS plug-and-play technology platform designed to help insurers and insurance brokers increase digital sales and access new markets. Democrance's platform can support any insurance product and distribution channel globally.
Products and Services
Democrance supports more than 50 Life, P&C, and Health products and has managed over 15 million policies to date. The platform is API economy ready, allowing seamless integration with Super Apps, Aggregators, Mobile Wallets, Telcos, HR Platforms, Retailers, Money Transfer Operators (MTOs), and Governments. Key features include a Product & Journey Builder for a seamless experience across channels and segments, and an Underwriting & Rating Engine to boost straight-through processing sales and reduce referrals.
Strategic Partnerships
Democrance's strategic partners include major industry players such as MetLife, AXA, AIG, Mapfre, Manulife, Tokio Marine, Zurich Insurance Group, and Salama. These partnerships enable Democrance to leverage out-of-the-box integrations with external data sources, local authorities, and third-party services for underwriting and insights, enhancing the capabilities of their platform.
Global Expansion
Democrance continues to expand its global footprint, including a notable expansion in Saudi Arabia following a funding round led by Wa’ed Ventures. The company also formed a strategic partnership to scale digital health insurance in Kenya. These efforts demonstrate Democrance's commitment to increasing accessibility and adoption of digital insurance solutions across diverse markets.
Recognition and Achievements
Democrance has been recognized as a Future 100 Company by the Ministry Of Economy, UAE, and the Ministry of Cabinet Affairs. This recognition underscores the company's innovative approach and impact in the insurance technology sector. Democrance continues to enhance its platform and expand its market reach, supported by a range of strategic partnerships and successful funding rounds.