The Digital Innovation Award - Democrance

1. © Democrance DMCC 2016
INSURANCE TO INCREASE PROTECTION
© Democrance DMCC 2020

2. 2
Democratizing Insurance
12
Countries in
MEA,
SE Asia,
LatAm
More than
1 million
active
Policies
$0.05
to
$5,000
Premium
Democrance’s technology platform enables to
scale partnerships between insurance
companies and non-traditonal insurance
distributors such as telco providers and
remittance houses to bring insurance products
to the most-deserving population.
Through our “Plug & Play” Software-as-a-
Service (SaaS) platform we enable insurers
to increase digital sales and unlock new
market segments.
Democrance already works across Asia,
Africa, South America and the Middle East to
help bridge the gap between the insurer
and the uninsured.

3. 3
A Migrant Centred Approach To Remittances
Democrance’s partnership with AXA
Emerging Customers, along with the
money transfer operator HelloPaisa allows
AXA to offer insurance to migrant workers in
MENA.
When a migrant worker chooses to send
money using HelloPaisa she is
automatically eligible for a free life insurance
coverage.
The insured (sender of the remittance) and
the beneficiary (receiver) receive a SMS with
their policy details as well as the one-step
digital process to make a claim. The whole
process is simplified using only their mobile
phone. The beneficiary can claim on her
phone and, once approved, the payment is
made via a remittance transfer.

4. 4
Click to play

5. 5
The Philippines is one of the world’s leading
labour-sending countries, facilitating the
migration of an estimated 2.2 million
Overseas Filipino Workers (OFWs) in total.
Democrance in partnership with AXA is
working to promote insurance for OFWs to
help mitigate the risk of emergency
remittances due to unforeseen
circumstances.
Using the Democrance platform, Filipinos
abroad will be able to benefit from a
comprehensive insurance plan to cover their
immediate family back home.
OFWs will be able to pay for insurance for
their families in the Philippines, through the
OFW Family at Home program.
Impacting The Lives Of Overseas Filipino Workers

6. 6
Democrance joined forces with
Cambodia Life Insurance (Camlife) to
offer affordable and accessible life
microinsurance products via the mobile
channel.
Democrance’s platform integrates
Camlife’s entire insurance system to
digitize and automate.
The partnership with Cambodian mobile
operator, Cellcard, means that their
mobile subscribers only need their
phones to buy, use and make claims for
affordable life and health microinsurance
product, thanks to Democrance platform.
The premiums payment can be made
through phone balance, and claims are
paid in under four days.
The Rise of Mobile Payment in Cambodia

7. 7
We are working with the leading e-payment
platform in Egypt, offering financial services to
consumers through more than 160,000
locations. Democrance has also recently
partnered the market leader in micro non-life
insurance in Egypt, to bring micro insurance
to the informal SME sector.
Micro, small and medium enterprises
(MSMEs) are an important source of
employment in Egypt: lying at the bottom of
the pyramid, their needs and risks are
consistently overlooked.
With the new offerings offered by gig-Egypt
and Democrance, micro business owners
can insure their goods as well as gain health
care coverage in the first pre-underwritten
product for MSMEs delivered at scale
worldwide.
Adding Value To The Bottom Of The Pyramid
Photo of actual customer and his insured business