Guardrisk, a South African cell captive insurer, is searching for cutting-edge insurtech firms to support through its US$2.8 million LAUNCHPAD project.
The effort, according to Guardrisk, a Momentum Metropolitan subsidiary, intends to leverage the power of its tech-enabled ecosystem to open doors for the development of pertinent solutions that will benefit customers, the shortlisted innovators, partners, and Guardrisk.
“The corporate landscape and digital economy of today are continually evolving, necessitating the evolution of organizations in a fast-moving and cutthroat industry like insurance. This entails modifying to meet evolving consumer needs as well as particular company and industry constraints, according to Xolani Nxanga, managing executive for microinsurance and insurtech lead at Guardrisk. “Insurtech solutions, in particular, provide the ability to revolutionize one’s business and meet client concerns,” Nxanga added.
Each startup will receive customized help from the initiative, which will include both financial support in the form of funding and non-financial support in the form of business and technical mentoring.
In order to complement each venture’s competence, support will also entail identifying the greatest and most efficient distribution channels.
Via LAUNCHPAD, Guardrisk will collaborate with venture capitalists to co-invest in and help business owners in scale-ups that primarily focus on the insurtech sector as well as companies whose products are novel and engaging enough to provide real, quantifiable economic value.
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