QuiQ claim

Quiq Claim is a FinTech peer-to-peer settlement and investment platform, catering to the medical insurance industry, which aims to create a new streamlined financing marketplace for health claims

The total addressable market in Jordan is around 300 Million JDs with a CAGR of 11% on average.

The assumed growing market penetration is 12% over the next 5 years, and could be revised higher to 20% based on market appetite.

Following global trends as pointed out by PWC the manufacturing & consumer goods industries are the top SCF Supply chain financing to consider for factoring & reverse factoring.

The whole process of receiving medical claims amounts from the insuranc companies takes around 90 days which creates a cash flow problem
HCPs are mainly SMEs having problems when it comes to 90 days
For example Pharmacies pay Pharmaceutical factories upfront in charge of medicines and they will have to wait up to 90 days. HCP Pharmacies (SMEs).

Creating a Marketplace bridging the liquidity Gap allowing HCPs to finance their claims at day 0 & at a fair discount
Greater liquidity
Regulates cash cycle
Manage claim payment time
Fair pricing and tax regulations
All stakeholders; will be connected on one platform (QC) and payments will be through Gate-to-Pay.

HCP: bridge the liquidity gap
Investor: Higher ROI on their investments
Insurance: Help managing the claims in an organized timeline

Factorial Decision QC TPAs Local Lenders Claims Market
Credit Decision Instantaneous 15 days 15 days 7 days
Interest Rate 6-8% 18% 25-30% 7-9%
Guarantees BAC Checks Promissory notes BAC
Technology Full Automated N/A N/A Semi Automated
Logistics Costs Minimal 3-5% 5-7% Minimal

The business identity of QC is the authorization of central bank of Jordan CBJ in financing medical claims, our product is being run under the sandbox test in which it is organized by CBJ. The current lending companies are on a different mandate in which they finance persons or companies at higher interest rates, while the TPAs as well has a different mandate on managing the insurance companies claims, where we are aiming to fill in the cash flow gaps of SMEs by allowing investors to early finance HCPs throughout applying both discounting & Factoring features.

Year 2020 2021 2022 2023
Total Revenue JOD 0 JOD 70,955 JOD 175,672 JOD 359,239
Total COGs JOD 0 JOD 0 JOD 0 JOD 0
Gross Profit/loss JOD 0 JOD 65,182 JOD 175,672 JOD 359,239
Gross margin #DIV/0! 92% 100% 100%
Operaitional ExpensesJOD 22,956 JOD 47,405 JOD 96,389 JOD 108,829
Net Profit/Loss (JOD 22,956) JOD 17,776 JOD 79,283 JOD 250,410
Net Profit Margin #DIV/0! 25% 45% 70%

QC has an admin fees of 1-3% out of every transaction between the investor and the HCP, in addition to the role of investor that QC will act on in which it is more effective.

Product Development
Business Development
Finalizing the Legal Frameworks
Biz Dev Salaries
Tech Dev Salaries
Legal Expenses
Rent & Utilities
Other Expenses

To be negotiated after defining the time of valuation.

Risk for investors is at its minimal considering the fact that insurance companies will ultimately pay the medical claims to the HCPs in addition to the investments agreement that has its terms and conditions.

Participating in Oasis500 Amman Acceleration Program.

JULY, 2019: 1st place in AB Accelerator Competition, Amman, Jordan.