InsuranceMarket
InsuranceMarket.ae is a UAE-licensed insurance broker and aggregator, founded 1995, that compares and distributes policies from 40+ insurers to 200,000+ individual and SME policyholders in Dubai and Abu Dhabi via its website, the 800-ALFRED phone channel, and the myAlfred mobile app.
- Company typePrivate
- Founded1995
- HeadquartersDubai, United Arab Emirates
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What InsuranceMarket does
InsuranceMarket.ae (legally AFIA Insurance Brokerage Services LLC, parented by Alfred Holdings) is a UAE-licensed insurance broker and aggregator operating since 1995. It runs insurancemarket.ae together with a 400+-employee inside-sales operation reached via the 800-ALFRED hotline, and serves 200,000+ policyholders across individual consumers and SMEs in Dubai and Abu Dhabi. The platform enables side-by-side quote comparison and policy purchase across 40+ insurer partners (RSA, AXA, Oman Insurance, Qatar Insurance, Tokio Marine, Zurich, Allianz, Metlife, BUPA, Cigna, AIG, Sukoon, Orient, Takaful Emarat, etc.) spanning 14 personal lines (motor, health, home, life, travel, savings, yacht, pet, cyber, etc.) and 16 commercial lines (group health, liability, professional indemnity, fleet, drone, trade credit, political violence, etc.).
The technical surface is a web-based comparison and brokerage platform with real-time integrations to multiple insurers for quote generation, policy issuance, and claims processing, plus the myAlfred mobile application on iOS, Google Play, and Huawei AppGallery that delivers a digital Insurance Wallet, claims submission and tracking, renewal management, and a freemium Premium membership offering up to AED 8,000 in annual rewards across 150+ UAE brands. Distribution is omnichannel: direct-to-consumer digital self-service, phone-based inside-sales advisors, and enterprise-grade field support for complex business lines, supplemented by a strategic MOU with Parkin PJSC to embed insurance inside Dubai's parking ecosystem and by extensive radio, social, and event-marketing partnerships.
Revenue is generated primarily through brokerage commissions on policies placed with the 40+ partner insurers, augmented by partner-funded economics on the myAlfred rewards programme. The company is privately held under founder/management control via Alfred Holdings, with no disclosed external institutional investment; it has accumulated Superbrand 2025, Most Admired Companies 2024, Inc. Arabia Leaders of Tomorrow 2025, Best Workplaces UAE 2026, and multiple insurer partner awards, and is the namesake of the InsuranceMarket Metro Station in Dubai.
InsuranceMarket firmographics
Firmographics- Name
- InsuranceMarket
- Legal name
- AFIA Insurance Brokerage Services LLC
- Website
- https://insurancemarket.ae
- Company type
- Private
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- InsuranceMarket.ae is a UAE-licensed insurance broker and aggregator, founded 1995, that compares and distributes policies from 40+ insurers to 200,000+ individual and SME policyholders in Dubai and Abu Dhabi via its website, the 800-ALFRED phone channel, and the myAlfred mobile app.
- Ownership category
- akta.pro rank
InsuranceMarket industry classification
Industry- Product category
- Insurance Brokerage
- NAICS
- Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)
Keywords
Where InsuranceMarket is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices2 records
Markets served
InsuranceMarket business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Technology or R&D, Operations, Others
Revenue model
- Insurance Brokerage Commissions: As a licensed insurance broker registered with the Central Bank of the UAE (Registration No. 85), InsuranceMarket.ae earns commissions from insurance providers for policies sold through its platform. The company facilitates connections between customers and over 40 insurance company partners.
- myAlfred Premium Membership: Free membership is provided with every policy purchase. Premium membership offers additional benefits including rewards from 150+ UAE partner brands and savings up to AED 8,000 yearly. Revenue may be generated through partnerships with partner brands offering rewards.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Others | Free membership with every policy - includes basic policy management, claims support, and access to myAlfred rewards |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels7 records
InsuranceMarket product offering
Product offeringCore offering
InsuranceMarket.ae is a UAE-licensed insurance broker and aggregator operating a digital comparison platform that lets customers compare and purchase personal and business insurance policies from more than 40 partner insurers. The service is delivered through insurancemarket.ae, the myAlfred mobile app, and a phone-based advisor team (800-ALFRED), supported by digital policy management, claims submission and tracking, and a free myAlfred Premium rewards membership with 150+ UAE brands.
Product overview
InsuranceMarket.ae operates as an insurance aggregation and brokerage platform offering a comprehensive portfolio of personal and business insurance products across 40+ partner insurers. The core platform enables quote comparison and policy purchases, supported by the myAlfred mobile app which provides policy management, claims submission and tracking, and premium membership rewards. The Insurance Wallet feature within the app enables access to policy documents, while dedicated advisor services guide customers through selection and claims. Personal insurance offerings span vehicle (car, bike, jet ski), property (home), health, life, savings, travel, yacht, pet, smartphone, cycle, and specialty lines (cyber, involuntary unemployment, political violence). Business insurance covers group health, liability lines, property, professional indemnity, workers compensation, and niche commercial coverages including drone and trade credit insurance.
Differentiator
Problem solved
Functional benefit
Brands
- myAlfred: Premium membership app offering policy management, claims tracking, renewals, and rewards from 150+ UAE brands.
Products and services
- Personal Insurance A bundle of personal insurance lines available to UAE residents including car, home, health, life, savings, travel, yacht, bike, pet, smartphone, cycle, jet ski, involuntary loss of employment, and cyber insurance, aggregated from 40+ partner insurers for side-by-side comparison and purchase.
- Business Insurance Commercial insurance products for UAE SMEs and enterprises including group health, public liability, professional indemnity, workmen's compensation, group life, marine cargo, medical malpractice, motor fleet, property and business interruption, contractors' all risks, event, drone, cyber security, SME, trade credit, and political violence insurance.
- myAlfred Mobile App Companion mobile application that serves as the digital hub for InsuranceMarket.ae policyholders, offering policy viewing, claims submission and tracking, policy renewals, and access to premium rewards from 150+ UAE partner brands.
- myAlfred Premium Membership Premium membership program included free with every InsuranceMarket.ae policy, offering rewards and savings up to AED 8,000 yearly across car services, health and wellness, home services, electronics, dining, and 150+ UAE partner brands including Careem, Samsung, Prypco, JustLife, and Zofeur.
Quantifiable outcome
- 4.8/5 Google rating from 30,000+ reviews
- +3 more outcomes
Companies that use InsuranceMarket
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
InsuranceMarket technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
InsuranceMarket partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Parkin PJSCcoreAt GITEX Global 2025, Parkin PJSC (Dubai's leading parking operator managing approximately 212,000 parking spaces) signed a strategic MOU with InsuranceMarket.ae to integrate parking, valet, and insurance services into a single digital platform. This partnership enables seamless access to insurance services through Parkin's parking ecosystem.
- Gulf NewscoreInsuranceMarket.ae and Gulf News co-hosted the Future of Work Summit in Dubai (April 2026), focused on AI, workforce transformation, and regulatory compliance. The event brings together policymakers, industry leaders, and experts to discuss future workplace trends.
- 40+ Insurance CompaniescoreInsuranceMarket.ae serves as an insurance broker/distributor for over 40 insurance companies in the UAE including RSA Insurance, AXA Insurance, Oman Insurance, Qatar Insurance, Tokio Marine, Takaful Emarat, Orient Insurance, Zurich, Cigna, BUPA, Allianz, Metlife, AIG, and many others. These partnerships enable the company to offer comparison and brokerage services across the UAE insurance market.
- 150+ UAE Partner Brands (myAlfred Rewards)minormyAlfred Premium membership provides access to exclusive rewards from 150+ UAE brands including Careem, Samsung, Prypco, JustLife, and Zofeur. These partnerships provide value-added benefits to InsuranceMarket.ae policyholders.
- Phygital International / Games of the FutureminorInsuranceMarket.ae (insurancemarket.ae) presented the Phygital Drone Racing championship at the Games of the Future Abu Dhabi 2025 tournament. Drone Racing One won the championship finishing 21 seconds ahead of Team BDS.
- Kris Fade (Brand Ambassador)minorKris Fade serves as Brand Ambassador for InsuranceMarket.ae. He represents the brand in promoting trust and reliability in the UAE market, stating that 'Alfred and InsuranceMarket.ae represent trust in the UAE.'
- myAlfred LLCcoremyAlfred LLC handles non-insurance related transactions and rewards for the myAlfred platform. InsuranceMarket.ae shares data with myAlfred LLC for service facilitation while maintaining separate data storage. myAlfred LLC is part of Alfred Holdings.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
InsuranceMarket competitors and assessment
Company assessmentBroad incumbents
- Policybazaar (PB Fintech): India-headquartered (NYSE-listed via PB Fintech) insurance aggregator with UAE operations. Operates the same digital insurance comparison model at greater scale across South Asia, and is an emerging benchmark for UAE aggregator strategy.
- Lemonade: NYSE-listed US insurtech combining underwriting with AI-driven direct distribution of renters, homeowners, pet, and life insurance. Comparable as a public-market benchmark for digital insurance distribution economics.
- Marsh McLennan (Marsh): Global insurance broker and risk advisor operating across MENA. Comparable as a broad incumbent in the commercial insurance brokerage space against which InsuranceMarket.ae's SME/commercial book competes.
Direct peers
- Yallacompare: UAE-based insurance comparison platform offering car, health, home, and other personal lines from multiple providers. Direct competitor to InsuranceMarket.ae in the UAE insurance aggregator market, with overlapping product categories and GTM motion.
- Souqalmal: UAE-based financial product comparison platform covering insurance (motor, health, home, life) alongside banking, credit cards, and loans. Closest direct peer to InsuranceMarket.ae in the UAE comparison space, with similar multi-product aggregation model.
Emerging players
- Coverfox: Indian digital insurance brokerage and comparison platform offering life, health, and motor insurance from multiple carriers. Comparable as an emerging insurtech aggregator pursuing digital broker economics in a different geography.
- Acko General Insurance: India-based digital-first insurance company that combines underwriting with a direct-to-consumer digital model. Comparable in pioneering embedded, app-first insurance distribution and competing with traditional aggregators/brokers.
Others
- Careem: Dubai-based super-app offering mobility, food, payments, and rewards across MENA. Comparable as a UAE consumer super-app and rewards ecosystem partner—already integrated into myAlfred's rewards network—that demonstrates the platform trajectory InsuranceMarket.ae may follow.
- Bayut: Dubai-based property marketplace (and broader classifieds platform) with UAE consumer reach. Comparable as a UAE digital marketplace category leader showing the scale of attention and lead-gen that property-adjacent insurance could tap.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
InsuranceMarket social profiles
Digital presenceInsuranceMarket compliance and trust
Trust signalCompliance15 records
InsuranceMarket financial estimates
Financial estimateRevenue estimate
Valuation estimate
InsuranceMarket leadership team
Management profileNumber of profiles
Profiles2 records
InsuranceMarket subsidiaries and ownership
Company hierarchySubsidiaries1 record
InsuranceMarket funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
InsuranceMarket M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about InsuranceMarket
What does InsuranceMarket do?
InsuranceMarket.ae is a UAE-licensed insurance broker and aggregator operating a digital comparison platform that lets customers compare and purchase personal and business insurance policies from more than 40 partner insurers. The service is delivered through insurancemarket.ae, the myAlfred mobile app, and a phone-based advisor team (800-ALFRED), supported by digital policy management, claims submission and tracking, and a free myAlfred Premium rewards membership with 150+ UAE brands.
Is InsuranceMarket a public or private company?
InsuranceMarket is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was InsuranceMarket founded?
InsuranceMarket was founded in 1995. It employs 251 to 500 people.
Where is InsuranceMarket based?
InsuranceMarket is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does InsuranceMarket make money?
Two revenue lines are on record. Insurance Brokerage Commissions are the primary driver. The others are myAlfred Premium Membership.
Who are InsuranceMarket's main competitors?
Broad incumbents on record are Policybazaar (PB Fintech), Lemonade and Marsh McLennan (Marsh). Direct peers are Yallacompare and Souqalmal. Emerging players are Coverfox and Acko General Insurance. Others are Careem and Bayut.
Does InsuranceMarket have an API?
No public API is recorded for InsuranceMarket.
What industry is InsuranceMarket in?
InsuranceMarket's product category is Insurance Brokerage. Its primary akta.pro industry code is FSAGAGAL, Embedded Insurance & Affinity Distribution Platforms. Its NAICS code is 524210 and its SIC code is 6411.