With the growing insurance tech market, getting quality insurance in Africa is gradually becoming the norm. Today, we have a number of new insurance startups revolutionizing the industry. So, insurance companies are becoming more customer-centric, they are easier to sign-up for and they allow micro-payments. This makes insurance a lot more accessible to the average African.
The best insurance companies in Africa do not usually dwell under one umbrella. This means one insurance company has a product for automobiles, health, agriculture, businesses, and even Life insurance. While it might make you skeptical about choosing a brand, it is a big win because when you register under one company, you’re sure to have all your insurance under one institution. This saves you the stress of having to manage different accounts and track how they are all faring.
In this article, we’ll be looking at the best insurance tech companies in Africa and the insurance services they offer.
1. Tangerine Insurance
Tangerine Life is a Nigerian insurance company that offers business and personal insurance services in Africa. They cover insurance for Automobiles, Burglary, Bond, Life, Marine, Fire, Money, Umbrella policies, Personal items and so much more. Making insurance payments is also super convenient as customers can pay through a bank transfer, POS, or other online options.
There are also flexible overdraft series so you can access your insurance as soon as you need it. You can access their services on the web or via their app available on Playstore and the iOS app store.
2. Jubilee Insurance
Jubilee insurance offers all types of insurance services across East African countries like Kenya, Tanzania, Burundi, Mauritius, and Uganda. These services include Life, Health, Motor, Life, pension plans, and general insurance. Jubliee also categorizes its offers to fit families or individual plans and businesses. So there are flexible payment plans and claims across each insurance. For example, there’s a micro-health cover and an individual health cover.
3. ETAP Insure
ETAP insure is a Nigerian car insurance provider that offers flexible insurance plans. You can choose to pay weekly, monthly or quarterly. The comprehensive car insurance plan covers the theft of insured vehicles, third-party injuries or deaths, fire damage and so much more. They also offer a flexible plan cancellation process that allows you to temporarily put your subscription plans on hold.
Track your entire claim history, plans, payments, and more directly from the app. ETAP also boasts of one of the fastest payment claims in the country. You can also choose to use any of the verified repair centers they’ve partnered with if you’d prefer to not deal with car repairs yourself.
Are you looking for instant insurance for your personal items? Then this South African Insuretech startup is for you. Jasure provides on-demand insurance for cars, home items, tech gadgets, and personal gear. You have app controls that allow you to pick and choose the specific items you’d want to insure. This makes their insurance plans very easy and flexible.
You also pay for the days you switch on your insurance and the days it’s turned off don’t require any additional costs. At the moment, you can only pay for any insurance with a valid debit/credit card. Find out more on their website, or download the mobile app from Playstore or the iOS app store.
5. OKO Assurance
Offering crop assurance for micro-finance institutions, agricultural players, Government, and NGOs, OKO crop assurance is the best insurance provider for farmers. This provider uses satellite imagery and weather forecasting to offer low-cost insurance for farmers. Asides from flexible insurance, Oko offers bundled services to educate and assist customers with informed registrations. You can access this service in Mali, Uganda, and Luxembourg. The app also makes it easy to track your applications and claims.
Casava is a Nigerian insurance tech startup that focuses on health and income protection for its customers. This digital insurance app allows you to insure your income so when you lose your job, you’d have unemployment benefits for up to six months. The amount you pay for income protection is also dependent on how much you make.
They also have healthcare insurance that gives you access to telemedicine and partner hospitals. The insurance covers accidents, emergency healthcare, tests and screening, mother and child care, etc. You’d of course have to subscribe to a healthcare plan. Unfortunately at this time, health insurance is only available in hospitals within Lagos State Nigeria.
Moving away from micro-insurance platforms, WazInsure is a software service that helps insurance companies streamline their efforts. They provide data-driven insurance solutions to make the insurance value chain transparent and cost-effective. So they offer a web portal for managing insurance business, a mobile app where clients can view insurance policies, lay claims and renew payments. This Kenyan Insuretech company also offers data-driven insights that help its customers calculate risks better and make informed choices.
As a health insurance provider in Nigeria, Reliance HMO offers health insurance plans for individuals, family members, and corporate establishments. They usually allow you to select from a list of over 1,500 hospitals they’ve partnered across the country with so you can access healthcare whenever you need it.
Some of the offers this insurtech company provides are a 24/7 customer care service, flexible payments which could be monthly, quarterly, or annually, and a 20% payback when you don’t use the insurance. You can learn more about this health insurance provider by using the web version or installing the Reliance app.
Kakbima is a Kenyan insurance startup that provides cutting-edge technology through a simple platform for insurance buyers, brokers, micro-insurers, and insurers. This software helps brokers with quotations, binding, and services for their customers. Insurers can use this platform to manage risks, build trust, and enhance customer experience. Also designed for individuals, people can save money by comparing insurance quotes from multiple providers.
Asides from having a configurable insurance platform there’s also an open API for easy integration. You also have access to the customer portal and insights.
As a Nigerian insurance company that offers health, life, motor, and travel insurance, AxaMansard provides services for 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’ll pair you with partner hospitals all over Nigeria. The travel insurance covers loss of passports, flight delays, loss of baggage, and medical emergencies.
You have access to an updated app where you can manage claims and payments. There’s also an easy renewal process accessible from the app or web version. Insurance claims take between 24 to 48 hours. All you have to do is fill out a form and share the required documents.
Insurance tech startups will continue to grow in Africa and the goal is to provide more accessible insurance plans. We do hope you found this article insightful. Let us know which of these insurance companies you’ll be using soon.