Kidbrooke, a financial analytics API developer, has partnered with HAYAH Insurance to provide it with its financial simulation engine.
Established in 2008 and headquartered in Abu Dhabi, HAYAH provides life insurance solutions to the UAE market.
According to Kidbrooke, HAYAH is the UAE’s “up-and-coming” insurance company, specialising in life, medical and savings, providing innovative, easy and safe digital services to their customers.
As a new client to Kidbrooke, HAYAH will be provided with OutRank®, Kidbrooke’s financial simulation engine driving the ALM functionality for self-service goals-based investment journeys.
HAYAH will retain Kidbrooke on a three-year contract to deliver the OutRank® API driving the insurer’s brand-new self-service investment journeys for customers based in the UAE.
The new service, Kidbrooke said, will allow the customer to set-up investments predominantly using collective investment vehicles such as portfolios of mutual funds and ETFs, to meet one or more investment goals as defined by risk/return, future cash flows and a time horizon.
Mohamed Seghir, CEO, HAYAH Insurance Company, said, “We are delighted to partner with Kidbrooke® as we strive towards becoming the world’s first AI-powered life insurer. Kidbrooke® provides the cutting-edge technology we need to stand out against the competition and become a true disrupter in our industry, by providing a fully digital insurance experience that is simple and secure.”
Fredrik Davéus, the founder and CEO at Kidbrooke®, added “We are very excited on winning new business in the Middle East region and using OutRank® to revolutionise insurance and wealth management sectors, dramatically improving societies’ financial well-being. We look forward to developing personalised digital wealth journeys powered by OutRank® and focus on providing added value across the board.”
Last year, Kidbrooke released a report on accident insurance, which detailed how the company helped a family financially plan for their future after a traditional financial institution were unable to adequately help them.
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