10 South African Entrepreneurs Innovating In Insurance
10 South African Entrepreneurs Innovating In Insurance. These entrepreneurs are pioneering new ways to offer insurance, making it more accessible, affordable, and tailored to the needs of South African consumers through technology and innovative business models. The insurance industry in South Africa is being reshaped by innovative entrepreneurs who are leveraging technology and new business models to offer better products and services. Here are ten South African entrepreneurs making significant strides in the insurance sector:
Cornet Thabiso Mamabolo
Digni Financial Services was founded in 2014 by Cornet Thabiso Mamabolo and Johnny Modiba. For Cornet and Johnny, this was the time for the universe to breathe life into a vision they had been nurturing as sales representatives. Having been involved in sales, data management, training, consulting, intermediary and advisory services, they have seen a need to build a community in which financial service products are customised in accordance with the African way of defining and doing things.
Nkazi Sokhulu
Co-founder of Yalu, which offers a digital platform for credit life insurance that is transparent and user-friendly. Yalu simplifies the process of getting insured and helps customers avoid paying for unnecessary coverage.
Alex Thomson
Alex Thomson co-founded Naked Insurance, a fully digital insurance company that uses artificial intelligence to provide car, home, and contents insurance. The company focuses on transparency, affordability, and customer control over policies.
Marnus van Heerden
He is the founder of Pineapple. Founded in 2017 and officially launching on the 30th of July 2018, Pineapple allowed clients to insure their ‘stuff’, namely gadgets, appliances, musical instruments and other single-item valuables. In 2020, Pineapple’s growth reached new heights when motor vehicle insurance became part of its already impressive repertoire.
Thabang Butelezi
He is the co-founder of black-owned insurtech startup Vaai.co, which has established an affordable on-demand car insurance solution providing locals with access to 24 hour accident cover. 70% (8.4 million) of the cars on SA roads are uninsured. Vaai.co aims to be the best solution to get cheap car insurance.
Brett Dyason
He is the founder of Hepstar, a travel ancillary aggregator and recommendation engine focused on optimal and personalised packaging of ancillary products for customers of online travel providers. Its engine uses anonymous historical and empirical data collected from the travel booking process, including contextual and behavioural data of customers, in order to profile customers and respond with products that are relevant and have a higher probability of being purchased by different profiles. Its innovative merchandising techniques include combining travel insurance with value-added products and services to increase product value perception and address an industry synonymous with dwindling insurance conversion.
Pieter Erasmus
Pieter Erasmus is the co-founder of Ctrl, an app that allows users to compare, manage, and buy insurance products from various providers in one place. The app simplifies the insurance process and gives consumers more control over their policies.
Vuyo Tofile
Vuyo Tofile is the founder of Entbanc Group, which focuses on financial services and insurance innovation. The company provides technology solutions that enhance the efficiency and reach of insurance products, particularly in underserved markets.
