Waad - Flat6Labs


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Company Brief
A B2B2C full-stack insurtech disrupting the retail insurance market. While acting as an MGA with their insurance and reinsurance partners, Wa’ad provides end-to-end digital insurance (product development, point-of-sale software, claims management, customer support) distributed through banks, telcos, brokers, etc., enabling them to offer and manage insurance policies. Currently the largest insurtech in Pakistan, Wa’ad’s founder relocated to Riyadh in Q2 2023 to expand operations to Saudi Arabia. They have since signed with Malath Insurance as partners and various local banks as distributors.

Flagship Launch Product
Protection & Savings Plan (P&S)
– Long term (15 years+) premium contract
– Increased product value vs. current market due to lean team and tech
– Breakeven in 3 vs. 7 years
Future Products
– Group Health Insurance for SMEs
– Marine Insurance
– Motor Insurance

Target Market
KSA / Pakistan


Business Model
Yearly/monthly insurance premium

Target Customer
– Young population
– Growing private sector
– Increasing female workforce
– Single parents / mothers

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