By Tom Jackson
South African insurtech startup Inclusivity Solutions has not so much as sold a policy in its home market, but has expanded rapidly across Africa and is targeting expansion even further afield after securing Series A funding.
Launched in 2015, Inclusivity Solutions designs, builds and operates inclusive digital insurance solutions and delivers them through digital channels in partnership with mobile operators, insurance companies and other distribution partners to deliver simple and affordable insurance cover through mobile phones.
Currently the products it has in place are all hospital cash offerings. This means that if a customer of a mobile operator partner spends a certain threshold amount with that operator, the customer automatically qualifies for hospital insurance cover for the following month.
“This is the loyalty cover which does not require the customer to pay a premium. The insurance product offers the customer cash back if they spend three or more days in hospital, and this is deposited into the customer’s mobile money account for them to use as they please. The upsell product is offered to the customer at a small premium and allows the customer to double or triple their cash back or add family members,” Jeremy Leach, founder and chief Click here to read entire article