yallacompare says it sold more than AED60m worth of insurance premiums so far in 2017
yallacompare, the Middle East comparison site, has announced it has sold over AED60 million worth of insurance premiums over the course of 2017.
It said over 30,000 car insurance policies were sold through yallacompare, formerly known as compareit4me.com, helping the company to double its revenue over 2016.
The highest premium sold through yallacompare in 2017 was worth AED166,500 ($55,331) – for a McLaren P1 valued at AED9 million, the company added.
“To say that our insurance business has been successful this year would be an understatement... However, there’s still room to grow – we believe that we account for less than 10 percent of the UAE’s overall insurance market, so we expect to maintain this momentum in 2018 as more and more consumers turn to insurance comparison for better deals,” said Jon Richards, CEO of yallacompare.
“On top of that, we’ll be launching insurance comparison in three new markets in the coming year, allowing more consumers around the Middle East to save time and money. And in the UAE, we have big announcements on health insurance to make in the coming months.”
He said yallacompare hit a number of milestones throughout 2017 after raising $4.1 million in venture capital as part of a larger Series B round of funding due to be completed in the coming months. Yallacompare has raised over $10 million in venture capital funding to date.
Richards said yallacompare’s banking comparison business also thrived this year, serving well over 2 million individuals in the UAE alone, and processing over 61,000 banking applications.
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