Qashio, a fintech company that provides an expense management and corporate card platform, is launching “Qashio Insurance” in partnership with YallaCompare. The branded health insurance product is a cost-effective solution with a simplified and automated digital declaration process, which takes under a minute to complete.

Qashio Insurance is the only digital-first health insurance package for SMEs of all sizes, from freelancers to 25,000-employee corporations. The platform enables applications to be processed ten times faster than conventional methods, many of which still rely on paper and physical signatures.

In addition to improved efficiency, Qashio Insurance offers up to 25% more affordable rates compared to the rest of the market. The platform has three tiers of coverage, allowing businesses to find the right plan to suit their unique needs, as well as an installment payment option.

Armin Moradi, Co-founder and CEO of Qashio said, “Qashio is privileged to be able to support the growing SME sector with Qashio Insurance, further simplifying otherwise complicated and lengthy processes. Qashio’s mission is to empower SMEs with a streamlined, cost-effective way to manage their health insurance needs. The platform that has taken close to a year to develop is a testament to our dedication to innovation and our unwavering support for SMEs as well as Enterprises”.

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Luke Craven, CCO of YallaCompare, added, “The launch of Qashio Insurance represents a significant milestone in our journey to provide comprehensive, user-friendly, and efficient services. Our partnership with Qashio embodies the synergy of expertise and shared vision”.

The MENA health and medical insurance market is currently undergoing significant growth. Driven by an expanding population and demographic shifts, the UAE now has over 557,000 SMEs, all of which must provide health insurance to employees and their dependents.