QIC Insurance Group has announced the creation of Digital Venture Partners (QIC DVP), a business unit bound to become the ecosystem orchestrator for insurance and ‘insurtech’ in the Mena region.
QIC DVP, which is part of the group’s digital strategy, aims to reshape the digital insurance landscape by building new digital ventures, leveraging existing assets, partnering with the Big Tech and corporates, and strategically investing in high potential early-stage startups.
“The launch of QIC Digital Venture Partners is a significant milestone for our digital future. Grounded by our strong regional and international performance, QIC DVP will reshape the digital insurance ecosystem and become the go-to digital insurance partner in the Mena region,” said Salem al-Mannai, Group CEO of QIC Group.
He added: “We are providing insurance companies, tech players, and government entities both, regionally and globally, the platform and the opportunity to expand their digital businesses into new markets.”
QIC DVP will act as a hub to connect regional and international ventures with strategic growth opportunities through the group’s regional footprint and global reach. It will form partnerships and collaborate with Big Tech players and corporates to co-create new digital ventures.
Additionally, QIC DVP will be setting up a corporate venture capital function to invest in early-stage and growth-stage startups that have strategic alignment with its focus areas.
In 2022, QIC, listed by Forbes among the top 30 most valuable companies in the Mena region, ranked ‘Top Investment House’ by The Asset magazine for the fourth year in a row.
Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and Mena region. QIC is one of the highest-rated insurers in the Gulf region with a rating of A/Stable from Standard & Poor’s and A (Excellent) from A M Best. In terms of profitability and market capitalisation, QIC is also the largest insurance company in the Mena region. It is listed on the Qatar Stock Exchange and has a market capitalisation of over $4bn.
QIC DVP, which is part of the group’s digital strategy, aims to reshape the digital insurance landscape by building new digital ventures, leveraging existing assets, partnering with the Big Tech and corporates, and strategically investing in high potential early-stage startups.
“The launch of QIC Digital Venture Partners is a significant milestone for our digital future. Grounded by our strong regional and international performance, QIC DVP will reshape the digital insurance ecosystem and become the go-to digital insurance partner in the Mena region,” said Salem al-Mannai, Group CEO of QIC Group.
He added: “We are providing insurance companies, tech players, and government entities both, regionally and globally, the platform and the opportunity to expand their digital businesses into new markets.”
QIC DVP will act as a hub to connect regional and international ventures with strategic growth opportunities through the group’s regional footprint and global reach. It will form partnerships and collaborate with Big Tech players and corporates to co-create new digital ventures.
Additionally, QIC DVP will be setting up a corporate venture capital function to invest in early-stage and growth-stage startups that have strategic alignment with its focus areas.
In 2022, QIC, listed by Forbes among the top 30 most valuable companies in the Mena region, ranked ‘Top Investment House’ by The Asset magazine for the fourth year in a row.
Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and Mena region. QIC is one of the highest-rated insurers in the Gulf region with a rating of A/Stable from Standard & Poor’s and A (Excellent) from A M Best. In terms of profitability and market capitalisation, QIC is also the largest insurance company in the Mena region. It is listed on the Qatar Stock Exchange and has a market capitalisation of over $4bn.