ABU DHABI // After Samantha Maasarjian resigned her job, she and her husband, Jack, and their nine-month old daughter could no longer rely on the health insurance her company had provided.
Mr Maasarjian, from Lebanon and self-employed, began seeking insurance for his family and for future employees of his trading firm.
At Daman "the process took ages" and the family had to pay for medical assessments, he said.
When Mr Maasarjian approached the Abu Dhabi National Insurance Company (Adnic), the family was sent to a local private hospital for tests, which would be paid for. But it took weeks to get an appointment, then weeks more for results to arrive from Brussels, he said.
Finally, "Adnic said insurance would cost Dh65,000 for the three of us, and Daman said Dh63,000. I was simply shocked," he said.
Mr Maasarjian is planning to close his business and move to Dubai, where health insurance is not compulsory, if he is unable to afford insurance for his family.
"One thing that shocks me is that if my wife starts working again tomorrow and goes back to the insurance company, they will quote her a normal price," he said.
* Caline Malek
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Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
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Company%C2%A0profile
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Profile of Udrive
Date started: March 2016
Founder: Hasib Khan
Based: Dubai
Employees: 40
Amount raised (to date): $3.25m – $750,000 seed funding in 2017 and a Seed round of $2.5m last year. Raised $1.3m from Eureeca investors in January 2021 as part of a Series A round with a $5m target.
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)