Africa Next’s Post

Happy New Year! As we dive into 2025, I’m excited to reflect on Octamile ’s incredible journey in 2024 and share a glimpse of what’s ahead. 🚀 2024 Highlights: - Grew number of On-demand insurance products supported by our API Marketplace to 10 products across 12 providers in Nigeria including Passenger Liability Insurance, Device Insurance, - Launched Africa's first Insure Now, Pay Later widget, making insurance more accessible. - Launched PayCover for Businesses - AI powered insurance advisory and insurance wallet - Upgraded our AI-powered Motor claims automation for faster, smarter claims processing and automatic damage detection - Partnered with leading companies such as Fincra, Renda Africa, Creditswitch Limited, Shuttlers, Treepz and Terminal Africa Inc. just to name a few to integrate on-demand, flexible Insurance into everyday transactions. - Successfully piloted our embedded insurance solution in Kenya. - Honored to join the Bank of America Breakthrough Lab, Westerwelle Foundation Young Founders Program, and ZEP-RE (PTA Reinsurance Company) Insurtech Accelerator. 🌍 2025 Outlook: The potential for flexible, on-demand insurance in Africa is immense. With AI and new technologies, we’re transforming how insurance is delivered, making it more inclusive, efficient, and customer-centric. A big thank you to all our customers, partners, investors and supporters, let's make 2025 a better year. To fellow founders and builders: despite challenges, the future is bright. Keep building, innovating, and pushing boundaries. Together, we’re shaping the future of insurance in Africa. Here’s to a transformative 2025! 💪 #Insurtech #AI #Innovation #Growth #Africa #2025Vision

Stay safe, stay secure, no matter where life takes you. #InsuranceLo #Pakistan #Startuppakistan #Startup #InsurTech #FinTech #Insurance #Takaful #Digital #Microinsurance #TermLife #Hospitalization #PersonalAccident #DomesticTravel #CommunityHealth #CropInsurance #AI #Artificialintelligence #Bigdata #Innovation #Technology

Insurance Lo: Creating Value Beyond the Hype #InsuranceLo #Pakistan #Startup #InsurTech #fintech #Insurance #Takaful #Digital #Microinsurance #AI #Artificialintelligence #Bigdata #Innovation #technologynews #techonology #finance #financetips #travel #travelling #healthylifestyle #money #home #family #venturecapital

A few weeks ago, I spoke with an industry friend about the insurance harvest being ready. . . What makes me think that the insurance harvest is ripe this time around? How can people’s trust in this industry be restored up to the point that they become advocates themselves? Here are my thoughts. The industry is regulated: Being regulated ensures transparency, which in turn enhances trust. In a regulated industry, Insurtechs have access to verified information, reducing disputes and fostering trust. Technology drives innovation: Technology solutions expedite claims assessments and payouts. Quick and fair processing builds customer confidence and shows that insurers are committed to honouring their promises. Seamless processes drive great customer experiences: Digital platforms provide 24/7 access to policy information, customer support, and claims status. This constant availability and responsiveness reassure customers that their insurer is always there for them. Personal finance education: Insurtech companies can leverage digital tools to educate the public about the benefits of insurance, demystifying the process and making it more accessible. Informed customers are more likely to trust and invest in insurance products. In Nigeria, where the insurance penetration rate is relatively low, Insurtechs offer a unique opportunity to rebuild trust and drive market growth. By addressing the key pain points of transparency, efficiency, and customer engagement, Insurtech can transform the perception of insurance from a necessary burden to a valued financial safety net. #NOSpeaks#Insurtech #Nigeria #Insurance #Trust #Innovation #CustomerExperience #DigitalTransformation

South African 🇿🇦 insurtech Naked has raised $38 million (R700 million) in a Series B2 funding round, led by BlueOrchard Finance Ltd and supported by investors including Hollard Insurance, Yellowwoods, IFC - International Finance Corporation, and DEG 🚀. The funding will help Naked expand its use of AI, automation, and product offerings while meeting regulatory capital requirements as the company scales. 💼 Launched in 2018, Naked offers a fully digital insurance platform that uses AI to provide quick quotes, easy online purchases, and seamless claims without phone calls. The company’s “Naked Difference” model allocates unclaimed funds to customer-chosen causes, building trust and avoiding conflicts of interest. 💬 “We’re thrilled to have the support of investors who share our vision for transforming the insurance industry,” said co-founder Ernest North. “This funding will help us innovate and provide a faster, fairer, and more transparent insurance experience, while also highlighting the growing trend of digital transformation in the industry,” added co-founder Sumarie Greybe (FIA). 📈 Naked's Series B2 round, following a $17 million Series B in 2023, brings total funding to $69.6 million. The platform offers instant car and home insurance with a focus on transparency and technology. This investment underscores the digital transformation in insurance, as Naked aims to expand access and drive financial inclusion in South Africa and beyond. Read more: https://lnkd.in/d6GXMUiM Techpoint Africa ✨Stay in the know! For the latest African news and insights, follow our WhatsApp channel - https://lnkd.in/ddAsW5S4  and never miss an update! 🌍📲 #Africa #SouthAfrica #Insurtech #Funding #Growth 

At Lami, we’re working to bridge Africa’s insurance gap by empowering agents with a digital platform that simplifies the sale of insurance. 🚀 By digitizing the process, we’re not just supporting agents, but creating new opportunities to bring insurance to millions across Africa. How do you think technology can help bridge this gap? Let us know in the comments! 👇 #Insurtech #AfricaInsurance #DigitalTransformation #InsuranceFacts

The global insurtech market size, valued at USD 5.45 billion in 2022 is expected to expand at a compound annual growth rate (CAGR) of 52.7% from 2023 to 2030. Motor and health insurance is the space where innovation is experimented at peak, followed by life, crop and property. At all the layers of a built up of an insurance company viz. claims, accounting, underwriting and data management & hygiene, the use of insurtech is on the rise. The magic lies in the speed of execution where insurtech plays a dominant role enroute the decision making process. I did spend time at the Digital Insurance(16th and 17th December, Dubai) exploring startups and established insurtechs showcasing their offering to bring the right solution to the companies. The insurtech industry will grow in the worldwide insurance markets which will also contribute to increase penetration from the awareness perspective. At J.B.BODA Group, we gladly associate with various insurtech firms globally to explore opportunities and establish cross border partnerships. Let us talk! J.B.BODA Group Digital Insurance #insurance #reinsurance #insurtech #tech #technology #climate #underwriting #claims #funds #mena #India #leadership #management #fintech #sustainability #innovation #creative #digital #market #capital #finance

#Digitalization, expanding mobile penetration, evolving customer expectations, regulatory changes, and a growing need for innovative #insurance solutions. Factors such as emerging tech adoption, demand for #personalized_services, and a maturing startup ecosystem further drive its growth are the key factors propelling the growth of the #𝙈𝙞𝙙𝙙𝙡𝙚_𝙀𝙖𝙨𝙩_𝙖𝙣𝙙_𝘼𝙛𝙧𝙞𝙘𝙖_𝙄𝙣𝙨𝙪𝙧𝙩𝙚𝙘𝙝_𝙈𝙖𝙧𝙠𝙚𝙩 during the #forecast period between 2023 and 2029. 🌐𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐭𝐨 𝐁𝐥𝐮𝐞𝐖𝐞𝐚𝐯𝐞 𝐅𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 "𝙈𝙞𝙙𝙙𝙡𝙚 𝙀𝙖𝙨𝙩 𝙖𝙣𝙙 𝘼𝙛𝙧𝙞𝙘𝙖 𝙄𝙣𝙨𝙪𝙧𝙩𝙚𝙘𝙝 𝙈𝙖𝙧𝙠𝙚𝙩" ➖ https://lnkd.in/g6SspD67 ▶ 𝐌𝐚𝐣𝐨𝐫 𝐩𝐥𝐚𝐲𝐞𝐫𝐬: ✔ERGO Türkiye ✔Bayzat ✔Aqeed ✔yallacompare ✔Harel Insurance & Finance, ✔Migdal Group, ✔Old Mutual Limited, ✔Liberty Group, ✔Clal Insurance & Finance- כלל ביטוח ופיננסים, ✔Momentum, ✔Emirates NBD. 📢𝐈𝐧𝐬𝐮𝐫𝐭𝐞𝐜𝐡 𝐌𝐚𝐫𝐤𝐞𝐭 – 𝐁𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞➖ Middle East and Africa #𝙄𝙣𝙨𝙪𝙧𝙩𝙚𝙘𝙝_𝙈𝙖𝙧𝙠𝙚𝙩 is divided into Consulting and Support & Maintenance segments. These segments encompass various facets of technological advancement within the #insurance_sector. The Consulting segment emphasizes advisory services, offering strategic insights and guidance for technological implementation, while the Support & Maintenance segment concentrates on the continual upkeep and enhancement of existing systems. #BlueWeave #marketresearch #bfsi #insurancesector #insuranceindustry #bfsitechnology

🚀 Transforming Africa’s Insurance Industry with Innovation and Impact 🌍 Big things are happening in South Africa’s insurance scene! 💡 Naked, the country’s first fully digital insurance platform, just secured $4 million in equity capital from German development finance institution DEG as part of a $38 million funding round. 🎉 With this boost, Naked is set to expand its AI-powered platform, introduce new products, and bring affordable, transparent insurance to even more people. 📱✨ Co-founder Alex Thomson calls it “a huge win” as the company continues redefining what insurance can be. This isn’t just about one company—it’s a leap forward for financial inclusion, innovation, and economic growth across the continent. 🌟 Let’s celebrate the power of technology and bold ideas in shaping Africa’s future! Read more: https://lnkd.in/g96Z7g2T #Innovation #Insurance #AfricaRising #TechForGood #FinancialInclusion

Is your organization considering Technology as a way to Bridge the Protection Gap in your Country? #Insurtech #Insurance #protectionGap #Innovation #Technology #InclusiveInsurance https://wix.to/bTA3fLx