Dubai-based insurtech startup that recently announced their launch with a funding of $18 million from its corporate founders is expanding into the crowded space of cloud-based HR software. The new AI-powered platform, Aqeed People, according to a statement by the company, will allow small and medium businesses to manage their insurance, payroll, and human resources, all in one place.
Hadi Radwan, Chief Product Officer of Aqeed, speaking about the motivation to expand into this space, said, “As we were building the new platform, we stumbled upon non-insurance related pain points related to managing payroll, administering time-off and attendance, running real-time performance evaluation and feedback, managing recruiting and retention, and reporting on a timely manner that SMEs face. All of those pain points are related to their most important asset, their People,”
“Because we are all about adding more value to our customers, we leveraged our technology to couple the new solution with features to solve those pain points and help their People become more productive, happier and more fulfilled,” he continued.
There are tens of local, regional and international HR SaaS available in the market but Aqeed’s closest competitor is perhaps Dubai-based well-funded Bayzat which also offers an HR suite with insurance. Aqeed’s CPO acknowledges the fact that there are multiple players in the market offering similar solutions but claims that Aqeed People is better, faster and cheaper.
Aqeed People will come with a smart AI bot that will help businesses increase employee engagement with features like real-time answering of HR-related questions, running payroll in minutes, improving the onboarding processes, introducing the “self-serve” experience, and more.
The platform is currently in a private beta and will be available for public in February. Anyone can request early access from here.