-
Delivering on Mass Market Insurance in Africa: Debunking the Myth of Low Demand
Africa’s insurance penetration rate in 2019 was only 2.78%, significantly lower than the global average — and insurance usage is concentrated among the urban elite, with minimal adoption among the people with the most risk of financial shocks. According to Ted Pantone at Turaco, there's a widespread belief in the industry that this lack of uptake means African customers don't see value in the benefits of insurance. But he argues that Turaco’s rapid growth in Africa is debunking that myth. He explores three aspects of the company's model that have enabled it to unlock African customers' latent demand for insurance.
- Categories
- Finance, Telecommunications
-
Pan-African Early-Stage Firm Ventures Platform Closes Fund, Hits $46 Million
Ventures Platform, a Pan-African early-stage venture capital firm, has closed its fund at $46 million as it looks to double down on “category-leading” companies across the continent.
- Categories
- Investing, Technology
- Region
- Sub-Saharan Africa
-
Kenyan Insurtech Firm Turaco Secures $10 Million Series A Round Fundraise
Turaco, the leading insurtech driving mass market insurance adoption, has announced the close of a $10 million Series A equity round led by AfricInvest.
- Categories
- Finance, Health Care, Technology
- Region
- Sub-Saharan Africa
-
France’s Eurazeo Launches $215 Million Southeast Asia ‘Insurtech’ Fund
Investors are deepening their foothold in the region despite a market cool-down.
- Categories
- Technology
- Region
- South Asia
- Tags
- innovation, insurance, startups
-
Insuring the Next 400 Million in India: Why the Mutual Insurance Model Presents a Clear Path to Scale
COVID-19 has had a devastating impact on India’s healthcare system, causing challenges ranging from a lack of medical oxygen to limited hospital capacity. But as Payal Agarwal at Uplift Mutuals explains, the pandemic has also brought to light the inadequate insurance infrastructure in the country, which accounts for almost 18% of the world's population but only 1.72% of the global insurance market. She shares the results of a new report exploring the potential of mutual and cooperative insurance to close that gap in India, and discusses how this model can be scaled.
- Categories
- Finance, Health Care
-
UK Pledges £10 Million for Energy Projects In Nigeria
The UK is providing up to £10 million of concessional aid to reduce the risk for pension and insurance funds to invest in energy access projects, and support Nigeria’s COP26 commitments.
- Categories
- Energy
- Region
- Sub-Saharan Africa
-
Press Release: Nowports Raises $60 Million to Revolutionize Latin America’s Supply Chain
Tiger Global leads this Series B. World-renowned investors such as SoftBank Latin America Fund and DST join the round.
- Categories
- Technology
- Region
- Latin America
-
Alibaba-Backed eWTP Fund Enters Indonesia by Joining Insurtech Startup Fuse’s Series B Round
eWTP, an Alibaba-backed fund based in China, aims to tap startup opportunities in emerging markets.
- Categories
- Technology
- Region
- South Asia
Subscribe to Our 'Business in Global Development' Newsletter!
Our new weekly LinkedIn newsletter features NextBillion's latest original articles, along with curated news, jobs, bizdev opportunities and events from our recent coverage of impact-focused business in emerging markets.
We respect your privacy. Your information is safe and will never be shared.
Don't miss out. Subscribe today.