Company Brief
A B2B2C full-stack insurtech disrupting the retail insurance market. While acting as an MGA with their insurance and reinsurance partners, Wa’ad provides end-to-end digital insurance (product development, point-of-sale software, claims management, customer support) distributed through banks, telcos, brokers, etc., enabling them to offer and manage insurance policies. Currently the largest insurtech in Pakistan, Wa’ad’s founder relocated to Riyadh in Q2 2023 to expand operations to Saudi Arabia. They have since signed with Malath Insurance as partners and various local banks as distributors.
Product
Flagship Launch Product
Protection & Savings Plan (P&S)
– Long term (15 years+) premium contract
– Increased product value vs. current market due to lean team and tech
– Breakeven in 3 vs. 7 years
Future Products
– Group Health Insurance for SMEs
– Marine Insurance
– Motor Insurance
Target Market
KSA / Pakistan
Industry
InsureTech
Business Model
Yearly/monthly insurance premium
Target Customer
– Young population
– Growing private sector
– Increasing female workforce
– Single parents / mothers
A B2B2C full-stack insurtech disrupting the retail insurance market. While acting as an MGA with their insurance and reinsurance partners, Wa’ad provides end-to-end digital insurance (product development, point-of-sale software, claims management, customer support) distributed through banks, telcos, brokers, etc., enabling them to offer and manage insurance policies. Currently the largest insurtech in Pakistan, Wa’ad’s founder relocated to Riyadh in Q2 2023 to expand operations to Saudi Arabia. They have since signed with Malath Insurance as partners and various local banks as distributors.
Product
Flagship Launch Product
Protection & Savings Plan (P&S)
– Long term (15 years+) premium contract
– Increased product value vs. current market due to lean team and tech
– Breakeven in 3 vs. 7 years
Future Products
– Group Health Insurance for SMEs
– Marine Insurance
– Motor Insurance
Target Market
KSA / Pakistan
Industry
InsureTech
Business Model
Yearly/monthly insurance premium
Target Customer
– Young population
– Growing private sector
– Increasing female workforce
– Single parents / mothers
Location: Pakistan, Sindh, Karachi
Total raised: $1.3M
Investors 2
| Date | Name | Website |
| - | Planet N G... | planetngro... |
| - | Flat6labs | flat6labs.... |
Funding Rounds 1
| Date | Series | Amount | Investors |
| 04.11.2022 | Seed | $1.3M | - |
Mentions in press and media 3
| Date | Title | Description |
| 28.08.2024 | VC firm Waad Investment launches debut fund with $200 mn target | Premium Yaser AlGhamdi, founder, Waad Investment Waad Investment, a Saudi Arabia-based venture capital firm backed by a consortium of Gulf-based investors and family offices, launched its debut fund to back growth-stage startups in the regi... |
| 08.04.2021 | NIC Pakistan and NextWallet Host Pakistan’s First InsurTech Panel Discussion | Building The Ecosystem for Digitising Insurance for Hacktivate 4.0 Under the Hacktivate 4.0 banner National Incubation Center Pakistan and NextWallet hosted a virtual panel discussion on InsurTech: Building The Ecosystem for Digitising Ins... |
| - | Waada | “Waada Digital Private Limited is a rising insurtech startup that aims to empower Pakistan with simple, affordable and accessible insurance. The vision is to bring insurance penetration of the country at par with other South Asian economies... |