Eltizam insurance marketplace raised $666K

Eltizam logo

Saudi Arabia-based insurance as a help (IaaS) stage that Eltizam has raised SAR2.5M which is roughly $666K through the crowdfunding platform ‘scopeer’. Established by Hani Al Malki (CEO) and Khaled Al Ahmadi (CTO), Eltizam hopes to digitize the nearby insurance business industry AI innovation. It offers insurance-related items crossing across various businesses, for example, wellbeing, automotive even investment funds, among others as well. Al Maliki was already the CEO of financier insurance agency Sanad Al Wakalah, which was established back in 2016. Recently, the organization rotated to turn into a tech-empowered insurance supplier.

As indicated by the startup, the Saudi insurance market is worth around SAR38 billion. However much 35% of a year ago’s tasks were by insurance representatives. The organization intends to put good use of the new assets to develop its group, tweak its activities, just as improving its showcasing endeavors, Al Maliki said. The platform will authoritatively dispatch within the following three months and is destined to be authorized by the Saudi Arabian Monetary Authority (SAMA) which will open up new grounds for the platform.