DESAISIV, a MENA-based AI insurtech startup specialising in health insurance, has successfully raised $2 million in a pre-seed funding round. The funding round was led by 500 Global, Terra VC, Oqal angel investors, family offices, and a group of influential investors with backgrounds in top insurance companies across the MENA, UK, and USA.
Additionally, DESAISIV is backed by various international and regional organisations, including Sanabil 500, IPSD, TAQADAM KAUST, USAID, CrossBoundary, TASMU, and The CORE HTU.
The fresh funds will fuel DESAISIV’s growth in the MENA region, empowering the company to develop further groundbreaking AI products, expand its operations and teams, and venture into new markets.
Saed Khawaldeh, Co-Founder and CEO of DESAISIV declared, “Our mission is to revolutionise the insurance sector by leveraging the limitless potential of artificial intelligence. We envision a future where insurance becomes smarter, more efficient, and, most importantly, tailored to customer needs. Our sights are set on a global revolution. By harnessing the power of AI, we are reshaping the insurance industry worldwide, empowering insurers and clients with unprecedented capabilities and paving the way for a brighter future.”
Mohamad Nabhan, Co-Founder and COO of DESAISIV, proclaimed, “Our ambition knows no boundaries. By fusing AI-driven innovations with the insurance industry, we are on a mission to transform the entire global landscape, bringing forth a new era of unparalleled efficiency and customer-centricity. With this strategic funding, DESAISIV is poised to transform the insurance sector at its core. Our vision is to pioneer an AI-driven future, where insurance becomes a seamless and personalised experience for all.”
Helps insurers reduce loss ratio
DESAISIV was founded in 2021 by serial entrepreneurs Saed Khawaldeh and Mohamad Nabhan in Saudi Arabia, with decades of experience in building tech ventures and business development. The company aims to reshape the entire insurance sector through visionary leadership and the unparalleled potential of the next-generation insurance customisation platform, powered by state-of-the-art AI.
DESAISIV’s vision goes beyond disruption. It strives to lead a paradigm shift in the insurance industry. By leveraging cutting-edge AI solutions developed in collaboration with top machine learning scientists from the University of Oxford, the company pioneers a future where AI becomes the driving force behind all insurance decisions.
Its AI-powered products streamline various facets of health insurance, automating underwriting procedures, tailoring policies to provide optimised benefits and coverage, predicting emerging diseases, identifying high-risk behaviors, and reducing customer attrition.
Benefiting from access to an extensive database of hundreds of millions of patient records, DESAISIV has achieved an impressive average prediction accuracy of over 95%.
