Farshad Sabet, CEO and Cofounder

Farshad Sabet

CEO and Cofounder

Medcover

Location
Iran - Tehran
Education
Bachelor's degree, Metallurgical Engineering
Experience
18 years, 9 Months

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Work Experience

Total years of experience :18 years, 9 Months

CEO and Cofounder at Medcover
  • Iran - Tehran
  • March 2022 to September 2023

As a startup, our company offers the first risk assessment and rating engine for personal & family health insurance policies as well as policy issue. Beside that company offer the first open-insurance platform for retail insurance in the country.

Key Roles:
• Played a key role in the development of the company strategy for growth in the Insurtech segment
• Effectively identified market gaps and designed innovative products
• Led multiple functions such as company management, negotiations at the highest level and product management

Significant Highlights:
• Successfully designed a new insurance retail product for package delivered via motorbikes in contribution with Saman Insurance and Snapp Box (the Biggest online delivery platform in Iran)
• Played a key role in implementing & integrating the solution with insurance company and Snapp Box
• Successfully issued over 120, 000 policies per day via webservices and deliver the first imbedded insurance platform in the country
• Demonstrated success in creating the first online quote engine for family health insurance in the country and launched the first health insurance online sales through 724 super app based on SaaS Model

Deputy to CEO at Darmanet
  • Iran - Tehran
  • January 2019 to March 2022

Darmanet is a TPA (Third Party Administration) which offers aftersales services for health insurance policies. Darmanet was responsible to analyze and reimburse over 200K medical claims per month in a very tight and rigid SLA.

Key Roles:
• Successfully led all operational departments, process optimization, and KPI definition with a number of 120 employees
• Significantly prepared operational IT requirements for the IT department
• Actively participated in board meetings, strategic corporate planning to manage business operations

Significant Highlights:
• Successfully improved:
o Number of service receivers (end customers and policy holders) from 25000 to 130000 people
o Ratio of customer to employees from 833 customers to 1 employee to 1083 customer to 1 employee
• Significantly increased the processing time SLA from 25 days to 6.5 days for outpatient reimbursement cases and from 70 days to 28 days for impatient reimbursement cases through continuous business process and software improvement.
• Increased the health providers network from 180 centers to 1250 centers all over the country
• Proven track record in establishing over 30 branches in all provinces in Iran
• Shown success in lunching the first managed distributed platform for claim adjudicators in Iran
• Acknowledged for transforming the business from a legacy and paper based process to a new digitized model (according to regulations provided by regulatory)
• Implemented the customer service and claim management departments to handle over 2000 calls a day
• Developed and Implemented BI dashboard based on Microsoft Power BI (as self-interest and side project) to monitor the processes and have a better overview for continuous process optimization

Chief Executive Officer at Noyan System
  • Iran - Tehran
  • January 2017 to January 2019

Key Roles:
• Founded the company and successfully increased the staff from 5 to 40
• Played a key role in aligning the company's strategy with the needs of the insurance industry
• Successfully introduced 6 Enterprise-Level IT platforms and the first Insurance SOA platform at Saman Insurance
• Effectively managed e-commerce activities at Saman Insurance, increasing online sales

Significant Highlights:
• Successfully implemented:
o The first ecommerce platform for retail insurance products for Saman Insurance
o Software Production process based on agile methodology with required self-improvement loops using Microsoft Team Foundation Platform

Project Director / Business Analyst at SVD GmbH
  • Germany - Frankfurt am Main
  • January 2013 to January 2017

Key Roles:
• Actively participated in pre-sales sessions to understand customer needs and requirements
• Worked in coordination with stakeholders to analyze and finalize system and process requirements
• Prepared user stories and use cases based on project and stakeholder goals
• Defined "Definition of Done" and test requirements, collaborated with the test team
• Assumed the role of "Product Owner" throughout the project lifecycle

Significant Highlights:
• Trained a team of 6 people for FADATA INSIS Core insurance customization and implementation
• Implemented INSIS life insurance platform for an insurance company
• Created and effective requirement gathering and gap resolution process through agile methodologies using different tools like Jira and Trello and using scrum and kanban models

IT Director at Saman Insurance
  • Iran - Tehran
  • January 2005 to January 2013

Key Roles:
• Team based leadership style, wherein led & grew a team consecutively
• Played a key role in defining, updating, and implementing the IT strategy, global software architecture and implemented solutions as well as organized and implemented the IT department
• Administered diverse functions such as:
o Setting up the IT service standards and architecture, budgeting and allocating IT resources at the enterprise level
o Procured hardware/software and managed IT providers & suppliers
o Business analysis and project implementation for insurance products
• Monitored the implementation of the "IT Administration Framework"
• Worked in coordination with the network and security team for specific projects


Significant Highlights:
• Acknowledged for transforming the infrastructure to a 100 percent virtualized environment and private cloud technology, using HP server and Storage solutions and Vmware platform in year 2007
• Implemented 9 ITIL processes to support the day to day needs of organization using Manage Engine software solutions.
• Effectively implemented software production model based on waterfall technology in 2006 and shifted it to a hybrid model of agile and waterfall in 2010
• Delivered the first retail platform to distribute & issue travel insurance policies to be able to function in travel agencies called “Travis” and through a course of two years saman insurance became the market leader for this product able to issue policies in over 12000 travel agencies via agents portal and later integrated to over 350 points via web services to offer the first fully online travel insurance policy with capacity to issue 20000 policies per day in high seasons (Saman Insurance still is market leader using the V2 of same platform which has been developed by my team in Noyan system)
• Led the successful digital transformation for Life Insurance Policy issuing process and transformed a paper based process to a 100% digital platform based on Microsoft SharePoint to handle 500+ cases per day
• Successfully established core insurance software for all the insurance product lines in the company & reached 100% electronic policy issuance in year 2006

Education

Bachelor's degree, Metallurgical Engineering
  • at Sharif University Of Technology
  • February 2001

Specialties & Skills

Data Analysis
Process Optimization
IT Project Management
Product Management
Business Analysis
Product Ownership
IT Operations
Business Analysis
Agile Methodologies
Project Management
Stakeholder Engagement
Cross-Functional Coordination
Strategic Planning & Execution
Team Building & Leadership
Data Analysis
IT Service Portfolio Management
Product Management
P&L Management
Process Optimization
Product Strategy and Roadmap
Collaborator & Innovator
Decision Maker & Thinker
Change Agent
Risk Assessment
Digital Transformation
Visionary & Strategist
Problem solver
Communicator & Planner
Creative & Initiator

Languages

English
Expert
German
Intermediate
Persian
Native Speaker