Online insurance startup, Comin Insure, is looking to raise funds of between $3m and $5m from a strategic partner, to fund its regional expansion.
The company intends to enter the markets of the Gulf countries and Egypt, beginning this year, reported Commerce of Levant. The aim is to offer insurance services on a regional scale via partnerships with foreign insurers.
Comin Insure was launched a year ago by Roger and Raphael Zaccar with their own funds. The company is seen as a natural continuation of a long family history because the two co-founders are sons of Mr Max Zaccar, president of Commercial Insurance who is also head of the Association of Insurance Companies of Lebanon.
Comin Insure offers simple products such as travel, motor, pet or home insurance (fire and theft). At this point, Comin Insure claims to sell about 100 insurance policies a month, all products of Commercial Insurance.
"The idea is to open a new sales channel with an accessible and inexpensive service," said Mr Raphael Zaccar, explaining the formation of the online insurer.