Wellx.ai partners with INSTANDA to launch an industry first fully digital insurance experience
News
- INSTANDA has enabled Wellx.ai to launch an end-to-end digital health insurance product for individuals, families and SMEs
- Announcement further cements INSTANDA’s position in the market and demonstrates its commitment to support digital transformation in the UAE
Wellx.ai, an insuretech based in the UAE, in partnership with INSTANDA, the leading customer and policy management platform for the insurance industry, have successfully launched a seamless, frictionless, fully digital health insurance experience that caters to individuals, families and SMEs.
The cutting-edge technological solutions provided by INSTANDA enabled rapid testing and product development, meaning Wellx.ai could build and take a complex product to market at speed. The INSTANDA platform also allows for changes and enhancements, all without writing a single line of code.
Tim Hardcastle, CEO & Founder of INSTANDA, comments: “Partnering with Wellx.ai has enabled us to modernize medical insurance and play an integral role in supporting the digital transformation of the insurance sector in the region. Together, our goal is to go beyond the typical traditional insurance solutions, combining the power of data, quick deployment and seamless integration to offer a new type of insurance experience that enables entities to digitally transform their insurance journeys instantly.”
Wellx.ai seeks to change how medical insurance is underwritten and consumed by bridging the gap between wellness and medical insurance. By utilising real-time activity and wellness data, Wellx.ai incentivises healthy behaviour and personalizes insurance premiums. Wellx.ai believes that in the future, companies will compete on the illness they are able to prevent, rather than cover, thus pioneering a new age of health insurance.
Vaibhav Kashyap, CoFounder & CEO of Wellx.ai: “The mandatory nature of medical insurance in the UAE and state of overall health of citizens and residents called for a new type of insurance. Wellx.ai exists to enable insurers to embrace their responsibility as a care partner. We must focus on preventing our customers from falling ill in the first place, instead of just picking up the cheque, by prioritizing prevention over financial indemnification”
“At Wellx.ai, we’re firm believers in the power INSTANDA affords underwriters and product owners. Allowing subject matter experts to build and augment their own insurance products at pace creates an environment that fosters innovation, flexibility and growth.”
This is second product distributed in the Middle East via the INSTANDA. The launch of Wellx.ai and INSTANDA’s continued focus on the region signals the growing importance of digital transformation in the UAE and demonstrates INSTANDA’s continued global expansion.
