Y Combinator summer 2021 graduate Amenli has secured a $2.3 million seed round funding to provide digital insurance services in Egypt.
Who is affected🤷: Traditionally, insurance companies in Egypt tend to partner with banks so they can identify high-spending consumers with solid credit ratings & sell them insurance. Those kinds of consumers are the most lucrative. Amenli, on the other hand, is looking to access a $2 billion untapped insurance market, a pool of about 50 million middle-income adults.
Why is this important🤔: Amenli seeks to address the large untapped insurance market in Egypt. When users log onto its platform, they are asked to answer a few questions, and the platform determines which insurance plan, whether life, medical, or motor based on the answers provided.
