Inclusivity Solutions, a leading insurtech company, has set its sights on solidifying its presence in at least 12 African markets by the close of 2024. With a mission to provide accessible insurance solutions to underserved populations, the company integrates simple insurance products into platforms and services that consumers are already familiar with, ensuring protection for life, health, and businesses.
Integration of insurance products
At the core of Inclusivity Solutions’ approach is the seamless integration of insurance into existing platforms, making it effortless for individuals to obtain coverage. By partnering with leading African brands and leveraging their reach, they can effectively deliver insurance solutions to a wide range of consumers. Whether through mobile money platforms, e-commerce websites, or other digital channels, Inclusivity Solutions ensures that insurance products are easily accessible and tailored to meet the needs of its target demographic.
Funding and Growth Areas
To support its expansion goals and further enhance its offerings, Inclusivity Solutions recently secured funds through an extension round. These funds have been earmarked for specific growth areas, such as technology development, market research, talent acquisition, and marketing initiatives. By strategically investing in these areas, the company aims to strengthen its position and better serve the growing demand for inclusive insurance solutions across the African continent.
Investment decision
The decision by Goodwell Investments, a reputable impact investment firm, to invest in Inclusivity Solutions is a testament to the company’s innovative approach and potential for scalability. Els Boerhof, Managing Partner at Goodwell Investments, highlighted their confidence in Inclusivity Solutions, stating, “Inclusivity Solutions makes insurance easily available and reliable, and thanks to their technology, highly scalable.” This endorsement further validates the importance of Inclusivity Solutions’ work in bridging the insurance gap for low-income populations.
Outreach strategy
Inclusivity Solutions has strategically aligned itself with leading African brands to maximize its outreach and impact. Through these collaborations, the company can leverage the brand equity and customer trust associated with its partners, thereby increasing the adoption of insurance solutions among the target market. By joining forces with established entities, Inclusivity Solutions can leverage existing networks, customer bases, and distribution channels to reach a wider audience and create meaningful change.
Complimentary Services
Beyond its core technology platform, ASPin, Inclusivity Solutions offers an array of complementary services to its partners. These services encompass vital areas such as research, design, pricing, analytics, and support in implementation. By providing comprehensive support throughout the insurance value chain, Inclusivity Solutions ensures that its partners have the necessary tools and expertise to offer tailored insurance solutions that meet the specific needs of their customers.
Goodwell Investments’ Support
Goodwell Investments has earned a reputation for supporting growing African businesses that cater to the essential needs of low-income demographics. Their decision to invest in Inclusivity Solutions underlines their commitment to driving social and financial inclusion on the continent. The collaboration between Inclusivity Solutions and Goodwell Investments aligns their shared vision of harnessing financial technology and strategic partnerships to address pressing social challenges.
The power of technology and strategic partnerships
Inclusivity Solutions understands the transformative power of technology and the importance of strategic partnerships in achieving its goals. By using technology, the company can streamline and automate processes, making insurance more accessible and affordable. Through partnerships with both established brands and emerging players, Inclusivity Solutions can leverage expertise, resources, and market reach to amplify its impact and accelerate its expansion into new markets.
Quote from Airtel Money’s Head of Insurance and Investments
Dennis Victor Wafula, Airtel Money’s Head of Insurance and Investments, spoke highly of their partnership with Inclusivity Solutions, stating, “Choosing them as a partner is a decision I will take pride in for a very long time.” This endorsement highlights the value that Inclusivity Solutions brings to its partners and their commitment to providing inclusive insurance solutions that protect individuals from the unforeseen shocks that often perpetuate poverty and inequality.
Inclusivity Solutions is at the forefront of addressing urgent social challenges in Africa by offering accessible and reliable insurance solutions. Their integration of insurance products into existing platforms and services, supported by technology and strategic partnerships, is revolutionizing the way insurance is delivered to underserved populations. By expanding their reach and solidifying their presence in African markets, Inclusivity Solutions is playing a vital role in helping individuals protect themselves from the unforeseen shocks that are often the root cause of poverty and inequality. As they continue to innovate and collaborate with key stakeholders, Inclusivity Solutions are poised to make a lasting impact in improving financial security and fostering economic growth across the continent.