Sehteq, Dubai-based health InsurTech start-up, has announced that Dr Hazem Al Madi has joined company as a managing partner.
Dr Hazem Al Madi has two decades of executive experience in the regional insurance market, says Dr Saif AlJaibeji, co-founder and chairman of Sehteq in a statement on LinkedIn.
Dr Hazem led the restructuring of Green Crescent Insurance Company and its acquisition by AXA Gulf. Prior to that, he was EVP at Oman Insurance. Dr Hazem is a certified healthcare innovative leader from Stanford University and a certified Six Sigma Black Belt in risk management.
“With its deep pool of talent, strong customer base, and robust technology, Sehteq has the potential to lead and thrive. I am excited for the opportunity to invest in the company and look forward to inspire Sehteq’s new phase of strategic development along with its efficient, high-functioning team,” Dr Hazem commented.
Dr AlJaibeji said, “Dr Hazem is the leader of our new chapter. We’ve completed Sehteq’s first phase and Sehteq 2.0 has been launched under his leadership.”
Sehteq (Arabic for 'Your health') was established as a startup incubator in Ras Al Khaimah in November 2017, and started operations in February 2018 with the acquisition of its first health insurance provider licence, which is specifically a third party administrator (TPA) licence. The startup grew with at least 12 subsequent acquisitions and heavily invested in a solid technology platform to be the largest provider of low-cost health insurance for individuals and companies in the UAE. Last year, it secured a $20m commitment to set up a reinsurance vertical, with the investment led by its anchor investor 971 Capital.