Meet the team

At the core of Democrance’s offering lie the mutually beneficial partnerships we create between insurance and telecommunications companies – two highly regulated and complex industries.

We understand and anticipate the challenges that may arise during complex projects. Years of experience in the MENA region’s insurance and telecommunications industries and building technological platforms have equipped our team with the right skills and knowledge to create and drive these initiatives hand in hand with our partners.

Michele Grosso

01 Sep 2017

Michele Grosso

01 Sep 2017

Co-Founder and CEO of Democrance

Driven by the desire to restore insurance to its original purpose of providing mutual aid for those who need it most, but can afford it least, he founded Democrance in 2015.

Prior to that, Michele worked in strategy and distribution at global insurance powerhouses AXA and MetLife in France, Egypt and the UAE.

Italian by birth, Michele holds a Master in Management / Grande Ecole from ESCP Europe in Paris and MSc in Economics from Turin University. He is also a graduate of Carlos III University in Madrid and City University in London.

Michele is a frequent speaker and contributor to microinsurance, entrepreneurship and social innovation events and publications in the Middle East and worldwide.

Alberto Perez

01 Sep 2017

Alberto Perez

01 Sep 2017

Co-Founder and COO of Democrance

Alberto is the Co-Founder and COO of Democrance.

Alberto Pérez was educated at ICAI School of Engineering and EOI Business School in Spain.

Driven by his passion to provide access to telecommunications services to underserved regions, he spent over four years reshaping the mobile Value Added Services (VAS) ecosystem in several Sub-Saharan African markets together with leading MNOs, such as Safaricom (Vodafone), Airtel and MTN.

Seeking new horizons, he relocated from South Africa to the UAE as the CEO of a newly born B2C enterprise and soon after founded his own award-winning venture, an on-demand fuel service.

Damian Dimmich

01 Sep 2017

Damian Dimmich

01 Sep 2017

Chief Technology Officer

Damian Dimmich is the Chief Technology Officer of Democrance.

Founder of his own boutique software development company Tauri-Tec, throughout his career he built cutting-edge software for a diverse range of clients, including the United Nations, the UK government, a Nigerian electricity operator and a variety of startups in e-government, fintech and media.

Damian holds a PhD in Parallel Programming from the University of Kent and BSc in Physics at King’s College.

He is fluent in English, German and Polish.

Aarno Tenhunen

01 Sep 2017

Aarno Tenhunen

01 Sep 2017

Lead Software Engineer

Aarno Tenhunen is the Lead Software Engineer of Democrance.

In this capacity, he is in charge of developing the microinsurance platform and scaling the IT infrastructure according to business needs.

In pursuit of a new challenge, Aarno joined Democrance and made Dubai his new home. Previously, he worked as a software engineer and agile coach for CSC – IT Center for Science, an IT service provider for the Finnish Government.

Aarno was born in Finland and graduated with a major in Computer Science and minor in Industrial Management from Tampere University of Technology.

Santiago Carvajal

01 Sep 2017

Santiago Carvajal

01 Sep 2017

Legal Counsel

Santiago is Democrance’s in-house legal counsel.
With core experience in corporate law, he has worked with a wide variety of clients across a broad spectrum of industries of all sizes in the private, public and third sectors.

Before moving to Dubai, Santiago lived and practiced in a number of different countries including Spain, Norway, and The Netherlands.

He holds a Licentiate in Law (LLB + LLM equivalent) from the Universidad Carlos III of Madrid and a Master`s Certificate in Project Management from George Washington University.

Jyoti Desai

01 Sep 2017

Jyoti Desai

01 Sep 2017

Business Development

Jyoti advises Democrance on Business Development and also acts as CEO of Digalance, a strategy advisory and planning firm focused on technology. Her expertise includes mobile financial services, digital transformation and the execution of large scale projects.

Before founding Digalance, Jyoti spent over 35 years working in financial services, fixed and mobile telecoms across Africa, the Middle East and Iran. She previously acted as a Board Member and Group Chief Operating Officer at MTN, the largest telecom operator in the Middle East and Africa region.

Jyoti holds a Bachelor of Commerce (B.Com.) focused on LAW and Economics from the University of South Africa/Universiteit van Suid-Afrika.

Abdel Hafiz

01 Sep 2017

Abdel Hafiz

01 Sep 2017

Business Development

Abdel Hafiz Fouad acts as a regional consultant for Democrance out of Sudan.

Well versed in both, the insurance and telecom sectors, Abdel previously represented Celltek Egypt in Sudan before acting as a marketing consultant for his family’s insurance company, The Blue Nile Insurance (BNI), and brokerage firm, Protect Insurance Services. He later joined Elnilein Insurance and currently works with The Sudanese Insurance & Reinsurance (SUDINRECO).

Abdel holds a BSc in Environmental Studies from Omdurman Ahlia University in Sudan and a Project Management Diploma from The Regional IT Institute (RITI) in Egypt.

Linda Luu and Oreabetse Mathlare

01 Sep 2017

Linda Luu and Oreabetse Mathlare

01 Sep 2017

Finance and Administration

Linda and Ore are Founding Partners at The Scalable CFO, a team of Finance Professionals that is providing the first dedicated source of flexible Experts for Startups and SMEs in the United Arab Emirates. The Scalable CFO introduces customers to a new breed of CFO, and through meaningful collaboration, provides a service that is essential to an often underserved market.

Together they bring to Democrance 25+ years of experience in strategic financial management and audit experience across insurance and other industries and several accreditations including FCCA and CA(SA).

Newsroom

This is a section where we put up news clippings and press releases.

Democrance ranked among Forbest Best Startups for the second year in a row

03 Oct 2017

Democrance ranked among Forbest Best Startups for the second year in a row

03 Oct 2017

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2016: 50 UAE Startup to Watch [link]
2017: Top 100 Startups in The Arab World [link]

Startup Democrance Makes Insurance Accessible For MENA's Low-Income Population

05 May 2017

Startup Democrance Makes Insurance Accessible For MENA's Low-Income Population

05 May 2017

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Sindhu Hariharan

In the MENA region (and perhaps the world over), ask fintech entrepreneurs about their startup’s core business, and chances are that it’s likely to be around digital payments, peer-to-peer lending, or blockchain. While these fintech businesses have dominated investor and funding action for a while now, one can’t exactly say the same for innovations happening in the insurance space. However, globally, upstarts are emerging to change this scenario, and the insurance industry is seeing increased collaborations between the old and new guard.

According to CB Insights data, the annual deal activity in the insurance-technology (insurtech) space clocked US$1.69 billion in 2016, with the number of deals rising 42% on a year-on-year basis. Not just that, in a positive sign for aspiring insurtech entrepreneurs, “two of every three deals in 2016” took place at the early-stage. Be it through the application of artificial intelligence in insurance, or by facilitating microinsurance, this new breed of fintech startups are beginning to make their presence felt. One such entrepreneur who has entered the MENA region’s insurance sector is Michele Grosso, founder and CEO, Democrance, an insurtech startup based in the UAE. Given his passion for microinsurance (a model focused on insuring low-income people) and its impact on society, Grosso was surprised to learn that the concept was “simply not available” in the region.

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Fincluders Startup Challenge

07 Apr 2017

Fincluders Startup Challenge

07 Apr 2017

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And the Winner is…

After 15 exciting pitches and demanding questions by the high level jury, a very difficult choice had to be made to select the three winners of the Fincluders Startup Challenge prizes. Out of the all round excellent field of contenders the following startups were awarded prizes at the thrilling award-ceremony.

The main sponsor of the event, the SANAD Fund for MSME’s Technical Assistance Facility, congratulates the winners of the pitching competition and expresses its gratitude to everyone who contributed in making the Fincluders Event such a success.

Third place and its cash award of USD 5,000 went to UAE-based Democrance, a micro-insurance provider for low-income populations. The prize was sponsored by ZAIN, the leading mobile and data services provider in MENA. The trophy was presented by ZAIN Jordan CEO Ahmed Hanandeh.

Democrance’s mission of making insurance accessible and affordable for the lower-income population through the power of modern technology convinced the jury in nominating this promising fintech as the third startup on the winners’ podium.

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Making insurance accessible for everyone

03 Apr 2017

Making insurance accessible for everyone

03 Apr 2017

ktimes

There are 350 million low- to middle-income people in MENA who do not have access to any sort of insurance. For this segment, risk protection tools such as life insurance, social security, public healthcare, personal and family savings would be life-changing.

Recognising the opportunity, Michele Grosso, founder and CEO of Democrance (www.democrance.com), decided to do something about it. He has spent over seven years in the insurance industry, first with AXA and then with MetLife, across Paris, Cairo and Dubai. He has seen first-hand how providing insurance to the masses could solve social challenges in the region. He decided to channel his knowledge and passion for this business and convert it into a profitable and meaningful venture.

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Microinsurance - Protecting migrant workers from risk

01 Sep 2016

Microinsurance - Protecting migrant workers from risk

01 Sep 2016

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With one in two residents in the GCC being a migrant worker, there is much that insurers can do to protect their interests, say Ms Annalisa Bianchessi of the Microinsurance Network and Mr Michele Grosso of Democrance.

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Our Supporters

Democrance is indebted to a number of supporters, who continue helping us on our journey: