Since traditional insurance companies earn credit by the number of their branches and agents across the country, some of them resisted cooperation with fast-growing Iranian InsurTech startups who need no brick and mortar workplace. However, some of those firms have finally accepted the reality of insurance sector developments and its coming changes.
This article has been written originally in Farsi by Mrs Haleh Chitsazan (a freelancer Digital Executive Consultant)
Amid Iranian startups active in various sectors, Fin-Techs are somehow more important to look for since they handle the monetary transactions after all. The other factor made the industry more attractive in the eyes of entrepreneurs is the fact that backing by a bank, an insurance or a financial institution keep these businesses on the safe side (financial wise) which eventually lead into a better-focused team with no costs concerns. A simple payment application will make you enough money for your entrance to the mysterious “finance” world and this sector’s players are there to back you up whenever necessary.