Egyptian startup ClickMare is providing users with health micro-insurance to make private healthcare accessible to all by breaking financial barriers.
Launched in October 2016, ClickMare aims to bridge the gap between public and private health insurance, in a country where millions of people and 87 per cent of SMEs are medically uninsured.
These kind of figures have convinced Dr Ahmed Yousef, ClickMare’s founder and chief executive officer (CEO), that there is room for a solution like his.
“Egypt’s large and growing population will continue to fuel demand for healthcare projects,” he said.
“There is a neglected category of SMEs and families that can’t pay for the private sector of medical insurance and can’t appeal to the national health insurance.”
ClickMare looks to operate in this area, and has so far helped around 15,000 Egyptians access private health insurance. It was the first health plan in Egypt to offer benefit coverage up to 80 per cent with monthly premiums of less than EGP10 (US$0.60) per family, and has partnered with over 1,600 care organisations.
All this while being bootstrapped, though the startup is seeking funding for expansion. Yousef said its diversity of revenue streams – which include subscription fees, commissions from medical providers, advertising revenue, and transactional fees for laboratory tests and scanning – have helped the startup become self-sufficient, but nationwide coverage will depend on raising capital.
“ClickMare started in Greater Cairo and we are planning to expand to the rest of the governorates after the investment, starting from Alex to Delta,” he said.