Democrance

Democrance is a Dubai-based B2B insurtech that sells insurers a lightweight, cloud-based core platform - Democrance Pulse - which sits on top of legacy systems rather than replacing them. Founded in 2015 by Michele Grosso, Alberto Perez and Dr. Damian Dimmich, the company began by trying to sell low-cost microinsurance to people in emerging markets who had never held a policy, then discovered that the real bottleneck was the insurers' own technology. Today its no-code product configurator, distribution portals, underwriting engine and API library let carriers including AXA, MetLife, AIG, Manulife, Zurich, Tokio Marine and Sukoon launch and administer life, health and P&C products in days rather than months, across 15-plus markets in the Middle East, Africa, Asia and Latin America. The mainstream book cross-subsidises the microinsurance one, which is how a financial-inclusion mission survives contact with a P&L.