For most families, small businesses, and communities in emerging markets, recovering from adverse shocks is one of the biggest challenges. But new technologies are dramatically changing the way people can protect themselves from rainy days. Emerging insurtech models are innovating to make insurance more affordable, accessible and appropriate for customers with varying incomes and risk mitigation needs.
From 6 insurtechs in 2000 to over 202 insurtech initiatives today, Africa has seen a tremendous growth of insurance providers using technology (insurtechs) to provide cover and security to meet the growing demands in the continent. The potential of insurtechs to reach underserved populations via technology and new business models is unmatched.
Partnerships are the heart of emerging business models. From digital platforms as distribution rails to P2P insurance wherein users pool risk and demand-based insurance which provides personalized cover triggered by real-time and just-in-time needs.
In South Africa, startups like Click2Sure, Pineapple, and Simply are paving the way, yet, insurtech companies remain only 6% of all fintech companies in the continent. How can insurtech become “a tap away” for all underserved populations?
Catalyst Fund, BFA’s inclusive fintech accelerator program, in partnership with CENFRI will share insights on these emerging business models in Africa and explore why Africa is the space to watch for tomorrow’s insurance products and business models.
12:30- 1:00 PM : Registration and lunch
1:15-1:25 PM : Opening remarks by BFA; lunch
1:25-1:40 : Presentation on the landscape of insurtechs’ business models by CENFRI
1:45-2:15 PM : Panel Discussion with leading insurtech startups and investors*
2:30-3:15 PM : Group activity to uncover the next big thing for insurtech in South Africa and new Investment Areas
3:15-3:30 PM : Open forum
Date: September 6, 2019
Time: 12:30 pm to 3:00 pm
Venue: Workshop 17, Watershed, Cape Town
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