UAE fintechs Qashio and YallaCompare partner to launch Qashio Insurance

UAE fintechs Qashio and YallaCompare partner to launch Qashio Insurance

Qashio, a multi-award-winning Fintech company providing financial tools, Corporate Cards and  Expense Management solutions is launching ‘Qashio Insurance’ their own branded Health Insurance in partnership with YallaCompare. Qashio Insurance is a cost-effective solution with a simplified and automated digital health declaration process, taking less than a minute to complete.

This initiative marks the inception of the first and only fully online health insurance journey for SMEs of all sizes, from freelancers to companies with a workforce of up to 25,000 employees, enjoying the same benefits and pricing as large enterprises, offering a digital-first approach that is faster, transparent and more cost-effective than traditional insurance models. The platform’s digital efficiency enables applications to be processed immediately on the spot, 10x faster than conventional methods, which rely on paper and wet signatures.

The platform comes at a time when the MENA health and medical insurance market is experiencing significant growth driven by increasing demand from the healthcare sector, population growth, and demographic shifts. In the UAE, which has over 557,000 SMEs, health insurance is mandatory for its residents and all employers must provide health insurance to employees and their dependents.

‘Qashio Insurance’ challenges the status quo by offering up to 25% more affordable rates compared to the market. The platform presents three tiers of coverage, allowing businesses to find the right plan to suit their unique requirements. Furthermore, an installment payment option is available, providing the financial flexibility that modern SMEs demand.

Armin Moradi, Co-founder and CEO of Qashio, stated, “Qashio is privileged to be able to support the growing SME sector with Qashio Insurance, further simplifying otherwise complicated and lengthy processes. Qashio’s mission is to empower SMEs with a streamlined, cost-effective way to manage their health insurance needs. The platform that have taken close to a year to develop is a testament to our dedication to innovation and our unwavering support for SMEs as well as Enterprises.'”

Luke Craven, CCO of YallaCompare, remarked, “The launch of ‘Qashio Insurance’ represents a significant milestone in our journey to provide comprehensive, user-friendly, and efficient services. Our partnership with Qashio embodies the synergy of expertise and shared vision.'”

‘Qashio Insurance’ is now available, inviting businesses to join the digital disruption in health insurance.