Bayzat
insurtech . aggregators / policy management
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About
Bayzat is the work life platform that benefits everyone. We are redefining the way work works for the better, making automated HR, payroll, employee benefits, and insurance a possibility for all businesses.Our unique solutions are based on the needs of people like you, and can free your team to do work that matters. And the time and money well save you, can be spent taking your business and employee experience to the next level.
Bayzat is a cloud platform that allows individuals & business units to search and compare insurance plans of car & health industry. It provides insurance services including policy management, plan benefits & insurance payments by using mobile application for insurers.
Focus
PRODUCTS & SERVICES
Online aggregrator platform for health & car insurance industry. It helps users to do quick searches and get instant quotes to buy the right insurance products on the mobile app.
REVENUE MODEL
The company earns commission from insurers.
MAIN CLIENTS
DMCC
Fetchr
beehive connecting for growth
Medigital group
Mumzworld.com
Subway
LC the luxury closet
Man'dushe street
Big bus etc
EXISTING PARTNERSHIPS
Partnered with insurance firms.
PRIMARY PROBLEM SOLVED
Managing Benefits HR Automation
INTELLECTUAL PROPERTY
Patent(s) NOT_FILED
COMMENT
Bayzat platform is the first one-stop-shop to offer real-time comparison of health insurance rates in MENA.
Traction
COMPANY TYPE:
For Profit
REVENUE
$1.0M - $4.99M
NUMBER OF TRANSACTIONS:
1 M
TRANSACTIONS VALUE:
1.5 M
ACTIVE USERS:
2000
ACTIVE USERS COMMENT:
The company claims that it has connected 12,000+ users in health insurance and receives more than 50,000 monthly visits with 350 percent revenue growth per annum (May 2017).
People
FOUNDERS
Talal Bayaa
Tarek Bayaa
Amir Farha
Brian Habibi
BOARD MEMBERS AND ADVISORS
Amir Farha
Yousef Hammad
NUMBER OF EMPLOYEES
51-200
INVESTORS:
Bolurfrushan International Group
Mubadala Capital | Ventures US
KEY EMPLOYEES:
Talal Bayaa (CEO)
Gregory Le Henand (COO)
Safa Sofuoglu (CTO)
Momentum
FUNDED
YES
NUMBER OF FUNDING ROUNDS
2
TOTAL FUNDING
$21 M
DATE OF LAST FUNDING
Oct 2019
IPO STATUS
Private
TOTAL FUNDING COMMENT
The company intends to use the funds to continue to accelerate growth and product development in 2018 (Dec 2017).
ESTIMETED REVENUE RANGE
$1M to $10M
FUNDING SERIES
SERIES A · $5 M · Dec 2017
SERIES B · $16 M · Oct 2019
LISTED
NO
Web Traffic
MONTHLY VISITS
27,023
AVERAGE VISITS (6 MONTHS)
35,289.62
MONTHLY VISITS GROWTH
-19.52%
VISIT DURATION
293
VISIT DURATION GROWTH
-2.09%
PAGE VIEWS VISIT
6.14
PAGE VIEWS VISIT GROWTH
-19.65%
BOUNCE RATE
31.26%
BOUNCE RATE GROWTH
-4.53%
GLOBAL TRAFFIC RANK
569,074
MONTHLY RANK CHANGE
-5,241
MONTHLY RANK GROWTH
-0.91%
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Bayzat
About
Bayzat is a technology company that provides insurance and HR services. Our online insurance platform enables individuals and companies to compare and apply for health insurance policies in the UAE. In addition, it offers Bayzat benefits, a platform/app for users to access their policies, coupled with HR automation tools to help them save time and money. Bayzat was founded in 2011 and is headquartered in Dubai, United Arab Emirates.
Focus
PRODUCTS & SERVICES
Bayzat offers two services: Health Insurance Helping companies (and individuals) compare, buy and use their health insurance. HR Automation Providing Bayzat Benefits™ platform which simplifies HR benefits for employers and employees, while automating admin work to save our clients time and money.
REVENUE MODEL
The company earns commission from insurers.
TOP PROBLEM SOLVED
Managing Benefits HR Automation
PRODUCT DEVELOPMENT STAGE
COMMERCIAL LAUNCH
PRODUCT DEVELOPMENT COMMENT
We are the first and only tech-company in the UAE with an insurance platform and OCR feature in HR automation
KEY DIFFERENTIATORS
Technology Platform/App OCR
PRIMARY CUSTOMER TYPE
Enterprise - Others
Small and Medium Business - Online Retail
Consumer
STRATEGIC CLIENTS AND PARTNERSHIP
BECO Capital : Investors
Traction
ANNUAL REVENUE:
$1.0M - $4.99M
NUMBER OF TRANSACTIONS:
1 M
TRANSACTIONS VALUE:
1.5 M
ACTIVE USERS/ACCOUNTS:
2000 Million
LIVE USERS/TRANSACTIONS:
Yes, in live production
CHANNEL STATUS
CHANNEL SECURE
NUMBER OF CLIENTS OR PAYING CUSTOMERS
1000
People
TEAM COMMENT:
We believe high-tech,transparency are the key to improving lives. Our diverse & genuine culture is our strongest point. Come visit us,you will see!
INVESTORS:
Momentum
FUNDED
YES
TOTAL FUNDING:
$1 M
LISTED
NO