UAE-born InsurTech startup Democrance has entered a partnership with MetLife in a bid to simplify customer interactions through innovation and digitisation.
Under the agreement, MetLife customers will be able to benefit from the comfort of easy access to its wide range of targeted critical illness, accident, and health insurance retail solutions via their mobile devices.
In the initial stage, products will be available via SMS and mobile web and eventually included in mobile applications, providing a fully digital insurance experience.
The Democrance platform will allow MetLife to quickly and easily deploy intelligent automated processes that drive efficiency, accessibility and deliver insurance solutions to its customers in five minutes or less.
Michele Grosso, Chief Executive Officer at Democrance, said, “With financial service customers embracing digital channels and social distancing becoming the norm, banks and insurers today must refine their partnerships to ensure they can jointly respond to changing consumer demands. Through pooling their customer, product, and technology expertise, they can transform the way they serve their shared client base.
Grosso added that Democrance is confident that this partnership with MetLife will enable the company to deploy its digital platform across the customer value chain to expand customer access to a broad range of need-based products and services. “In doing so, we hope to enhance efficiencies further and leverage the existing ecosystem to facilitate superior experiences for banking and insurance customers,” he said.
Apostolos Ailamakis, Head of Bancassurance and Direct to Consumer at MetLife in the Gulf, said, “Continuously enhancing our processes and actively looking for opportunities to simplify and automate manual activities is embedded in the core of our strategy. We are committed to investing in tools that place our customers in the driver’s seat. The new partnership with Democrance will enhance our customers’ insurance buying experience by creating a seamless digital process that caters to their ever-evolving needs.”
