Top 10 Insurance Tech Companies in Africa 2022Thank you for reading this post, don't forget to subscribe!Thank you for reading this post, don't forget to subscribe!
With the growing insurance technology market in Africa, access to quality insurance is slowly becoming the norm. Today, we have several new insurance startups that are revolutionizing the industry. Therefore, insurance companies are more customers oriented, easy to register and allow small payments. This makes insurance more accessible to the average African.
The best insurance companies in Africa do not live under the same umbrella. This means that an insurance company has products for automobiles, health, agriculture, businesses, and even life insurance. While it may make you hesitant to choose a brand, it’s a big win because when you sign up under one company, you’re sure to have all your insurance under one institution. This saves you the stress of managing different accounts and keeping track of how they’re all doing.
In this article, we look at the best insurance technology companies in Africa and the insurance services they provide.
1. Tangerine Insurance
Tangerine Life is a Nigerian insurance company providing commercial and personal insurance services in Africa. They cover additional insurance for cars, theft, bonds, life, marine, fire, cash, umbrella policies, personal belongings and more. Making insurance payments is also extremely convenient as customers can pay via bank transfer, POS or other online options.
Flexible overdraft ranges are also available so you can access your insurance as you wish. You can access their services on the web or through their apps available on Playstore and iOS app store.
2. Jubilee Insurance
Jubilee Insurance provides all types of insurance services in East Africa such as Kenya, Tanzania, Burundi, Mauritius and Uganda. These services include life, health, motor, life, pension plans and general insurance. Jubilee allocates its discounts to family or personal plans and businesses. So there are flexible payment plans and claims on every insurance. For example, there is micro-health coverage and individual health coverage.
3. ETAP Insure
ETAP Insurance is a Nigerian car insurance provider that offers flexible insurance plans. You can choose to pay weekly, monthly or quarterly. A comprehensive car insurance plan includes coverage for vehicle theft, third party injury or death, fire and more. They also offer a flexible plan cancellation process that allows you to temporarily keep your subscription plans.
Track your complete claim history, plans, payments and more right from the app. ETAP boasts one of the fastest billing rates in the country. You can also choose to use any of the certified repair centers if you don’t want to handle the car maintenance yourself.
Looking for instant insurance for your personal belongings? Then this South African insurtech startup is for you. Jasur offers on-demand insurance for cars, furniture, tech gadgets and personal gear. You have app controls that allow you to pick and choose the specific items you want to insure. This makes their insurance plans very simple and flexible.
You also pay for the days you have your insurance open and no extra costs are required for the days you lose. Currently you can only pay for any insurance with a valid debit/credit card. Learn more on their website or download the mobile app from PlayStore or iOS App Store.
5. OKO Assurance
Providing crop assurance to microfinance institutions, agricultural players, government and non-government organizations, OKO Crop Assurance is the best insurance provider for farmers. This provider offers low-cost insurance to farmers using satellite imagery and weather forecasts. In addition to flexible insurance, OCO offers bundled services to educate and assist customers in informed enrollment. You can find this service in Mali, Uganda and Luxembourg. The app makes it easy to track your applications and claims.
Cassava is a Nigerian insurance technology startup that focuses on health and income protection for its customers. This digital insurance app allows you to verify your income so you have up to six months of unemployment benefits when you lose your job. The amount you pay for income protection also depends on how much you make.
They also have health care insurance that allows access to telemedicine and partner hospitals. Insurance covers accidents, emergency healthcare, check-ups and screenings, maternity and child care etc. You will need to sign up for a health care plan. Unfortunately at this time, health insurance is only available in hospitals in Lagos State, Nigeria.
Away from micro insurance platforms, WazInsure is a software service that helps insurance companies streamlines their efforts. They provide data-driven insurance solutions to make the insurance value chain transparent and cost-effective. So to manage insurance business they offer web portal, mobile app where customers can view insurance policies, submit claims and renew payments. This Kenyan insurtech company also provides data-driven insights that help clients better calculate risks and make informed choices.
As a health insurance provider in Nigeria, Reliance HMO offers health insurance plans to individuals, family members and corporate institutions. They allow you to choose from a list of over 1,500 partner hospitals across the country so that you can get health care whenever you want.
Some of the offers that this insurance company offers are 24/7 customer care service, flexible payments that can be monthly, quarterly or annually and 20% cashback when you don’t use the insurance. You can know more about this health insurance provider by using the web version or by installing the Reliance app.
Kakbima is a Kenyan insurance startup that provides cutting-edge technology to insurance buyers, brokers, micro-insurers and underwriters using a simple platform. This software helps brokers with quotes, liaising and services for their clients. Insurers can use this platform to manage risks, build trust and improve customer experience. Also designed for individuals, people can save money by comparing insurance rates from multiple providers.
In addition to having a configurable insurance platform, there is an open API for easy integration. You can also get customer logins and insights.
As a Nigerian insurance company offering health, life, motor and travel insurance, AxaMansard caters to corporate clients and individuals. There are also business insurance plans that cover small and medium businesses across the country. Enjoy flexible health insurance plans that connect you with partner hospitals across Nigeria. Travel insurance covers passport loss, flight delay, baggage loss and medical emergencies.
You have access to an updated app where you can manage claims and payments. There is also a simple update process available from the app or web version. Insurance claims take 24 to 48 hours. All you have to do is fill the form and share the necessary documents.
Insurance technology startups will continue to grow in Africa and the goal is to provide more accessible insurance plans. We hope you found this article informative. Let us know which of these insurance companies you use most.
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