SA’s insurtech startup, CTRL has raised funding from Santam insurance company. CTRL is a digital insurance design that lets users request and accept quotes from diverse users, amend and get advice. It has been in a test phase and will soon launch publicly. Santam who bought a minority stake in the startup company, aided the funding.
Pieter Venter, Co-founder and Chief Executive Officer (CEO) of Ctrl, said they are excited about the partnership, as it will enable them give South African consumers the best of innovation and trust.
“Founded in 1918, Santam is a trusted, household name with an excellent reputation and exactly what consumers want when it comes to insurance – reliability.” He said.
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Edward Gibbens, Executive Head: Commercial and Personal at Santam also confirmed his excitement. He said “Innovation is at the centre of what we do at Santam, and we are always on the lookout for new distribution channels and ways to innovate. This is exactly what Ctrl offers through the Ctrl insurance advice app. Digital technology offers an incredible opportunity for intermediaries. We are operating in exciting times and the prospects are endless. Intermediaries must be responsive and seek these lucrative opportunities”