InsureAfrika.com is solving the problem of buying insurance in Kenya, which is currently dominated by intermediaries (brokers, agents, etc.), who often are not transparent when selling insurance products. Insurance providers are not able to get in touch with the end consumers as brokers control them and often misguide them on what an insurance product entails by giving fake contact details of the consumers.
Intermediaries also collect the money on behalf the companies and usually sit on that money for months before passing it on to the insurance companies. Consumers are given little choice on selecting the insurance product of their liking. Consumers are not explained proper details of the product thereby not knowing what they are covered for.
Consumers are unable to make INFORMED decisions as more often or not intermediaries push only one company’s product down consumers’ throat.
The team is building a robust cloud based technology platform, which will enable companies to launch a new product instantly, connect directly to the consumers, and control user data.
Also, companies can sell products online through a payment gateway integration and Use this as CRM system to serve customers better.
For users, they are able to compare insurance quotes for various categories from leading insurance providers, get a proper understanding of the insurance products as all details are published on the platform through product pages.
Moreover, users get to read about the Insurance Company, access the information 24/7 from anywhere in the country, and talk to a well experienced insurance expert to make decisions easier.
DEMO Africa was a good event to pitch at because
- it would help them to showcase InsureAfrika.com to the entire continent.
- they can benefit from the PR InsureAfrika.com will receive from the event.
- the team can raise investments from VC’s.
- it allows them to get further validation for their idea and use the feedback to make the product better.
- Gagandeep Hayer, Co-Founder & Operations Head
- Chetan Hayer, Co-Founder & Business Head
- Paul Dhaliwal, Co-Founder & Tech Head
- Matthew Okusimba, Software Developer
- Dennis Njuguna, Creative Designer
- Peris Kanyeria, Business Analyst – Client
- Martha Kamuthu, Sales Insurance Agent
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