Revolutionizing Claims Payouts with Instant Payment
EYST Technology, an InsurTech startup founded in 2022 by Tunisian entrepreneur Marwen Amamou, aims to transform the claims payout process into an instant payment system. Developed in Tunisia by local talent, the solution is now deployed with insurance companies in several European countries.
The Solution
The startup has designed a SaaS platform that enables insurers to instantly issue virtual bank cards credited with the indemnification amount. The insured receives the card directly on their smartphone and can use it via Apple Pay or Google Pay to pay for expenses related to their claim, without having to advance the costs and wait for reimbursement. This approach breaks with the traditional insurance model, where clients usually have to finance repairs themselves before being reimbursed. It improves the insured's experience, reduces handling times, and simplifies file processing.
Benefits for Insurers
The virtual cards can be configured to be used only with specific categories of service providers related to the claim, such as car garages, plumbers, repair professionals, and airlines. This mechanism helps limit fraud risks, better control fund usage, and reduce costly checks.
International Market
Although the technology is developed in Tunisia, its market is decidedly international. EYST currently operates in seven European countries and works with six insurance companies. The startup plans to increase this number to ten clients by the end of the year and is preparing to expand to Latin America and Asia from 2027. To support this growth, EYST has just completed a €1.7 million fundraising round with French and Tunisian investors. This funding will enable the startup to accelerate the development of new features, particularly around data intelligence and cashback, strengthen its commercial and data teams, and continue its deployment in new international markets. With this operation, EYST aims to consolidate its position in the digital insurance market and continue developing a technology designed in Tunisia to meet the needs of insurers operating internationally.
