Armed with $8 Million in Funding, yallacompare Launches Affordable Insuranceby Fintechnews Middle East 15. January 2019
yallacompare, comparison site for financial products based in UAE and Dubai has recently announced the launch of their affordable life insurance product.
According to the company, the product dubbed “Smart Term Life Insurance” can be purchased online within 5 minutes and without needing to go through medical examination. It is available to the general public for as low as 3 AED per day.
Since launching the comparison platform in 2016, the company has built a dominant position in digital insurance sales in the UAE, accounting for more than 75% of online insurance transactions.
This news follows their recent announcement of raising US$ 8 Million from existing VC and one significant investor yallacompare currently employs over 120 people serving 9 markets – the new funds will be used to grow the workforce by up to 50% as the company seeks to bring insurance aggregation to additional regional markets.
Featured image credit: yallacompare