Guardrisk, a South African mobile captive insurance provider, is searching for creative insurtech firms to support through its ZAR50 million (US$2.8 million) LAUNCHPAD project.
Guardrisk, a Momentum Metropolitan company, stated that the programme intends to leverage the strength of its tech-enabled ecosystem to uncover chances to produce relevant solutions that would generate value for customers, chosen entrepreneurs, partners, and Guardrisk.
“The digital economy and the business landscape of today is constantly changing, making it essential for organisations in a fast-paced and competitive sector like insurance to evolve to stay relevant. This means adapting to specific business and industry challenges and changing customer needs,” says Xolani Nxanga, managing executive for microinsurance and insurtech lead at Guardrisk. “Technology — and insurtech solutions, in particular — increasingly provide the ability to transform one’s business and address client challenges.”
Guardrisk will collaborate with venture capitalists through LAUNCHPAD to co-invest in and support entrepreneurs in insurtech scale-ups, as well as startups where the solution is creative and compelling enough to produce actual and demonstrable economic value.
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The project will give targeted support to each entrepreneur, including both financial and non-financial assistance in the form of business and technical mentorship. Finding the greatest and most successful distribution channels to fit individual venture skills will also be part of the support.
“Guardrisk is by nature an entrepreneurial business, so we understand the challenges and opportunities that entrepreneurs face in building and scaling their businesses — and are nimble enough to help them navigate these, grow and develop products and solutions that meet client needs while simultaneously enabling convenience, flexibility and cost-effectiveness,” said Nxanga. “We are excited about the opportunity to partner and collaborate with entrepreneurs and venture capital investors to build a robust insurtech ecosystem that pushes beyond industry boundaries and uses innovation to solve real customer and business challenges in South Africa.”
Here are further details for entrepreneurs or investors wishing to collaborate with Guardrisk to develop value-adding insurtech solutions.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard