Insurtech startup secures US$1.56 million Series A Round
Summary
Their model bridges the insurance protection gap for underserved through products that are designed to be simple, affordable and accessible, even on the most basic mobile phone. We are immensely excited for the road ahead and look forward to supporting Inclusivity Solutions fulfil its potential,’ Harry Apostoleris, Director, Umkhathi Wethu Ventures. ‘RGAX is excited by the potential of the digital microinsurance model, and we have confidently supported Inclusivity Solutions from the early days,’ said Andre Dreyer, Vice President, Ventures and Acquisitions, RGAX. Through Ingoboka Cash, a product designed and operated by Inclusivity Solutions and delivered through Airtel Tigo Rwanda, 24 year old Theoneste was able to access vital treatment after being hospitalised for 20 days following a serious accident. I still need to go through the final operations but now that I know I can afford it, I can use all of my energy to recover and move on with my life.” Jeremy Leach: ‘Until now the most vulnerable consumers in emerging markets, such as Theoneste, have been largely unable to access insurance because it has been geared toward higher income earners and established businesses.