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Author: search.filters.author.Nhlapo, Zanele CynthiaSubject: search.filters.subject.Inclusive insurance

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    Promotion of inclusive insurance by a South African InsurTech company
    (University of the Witwatersrand, Johannesburg, 2024) Nhlapo, Zanele Cynthia; Totowa, Jacques
    This study examines the strategies an insurance technology company deployed to promoteinclusivity within the insurance sector across its operational markets in South Africa,Uganda, Ghana, Zambia, Côte d’Ivoire, and Cameroon. This research focuses on the SouthAfrican market within the context of a multinational corporation. The name of the companyunder study is concealed for ethical reasons. Employing qualitative research, this studyexplores how an insurance technology company utilises digital technologies to offer easilyaccessible and unique insurance products such as prepaid hospital, funeral and life cover.The company focuses on aiding underserved communities and promoting financial inclusionand sustainable development. Despite a generally low insurance penetration in Africa andthe slow uptake of technological innovations among established insurers. This specificinsurance technology company stands out as a pioneer in embracing digital solutions to meetinsurance needs. The research identifies barriers to insurance adoption, analyses the use ofdigital technology in enhancing accessibility, and evaluates the company's strategies forimproving affordability and customer satisfaction. The study finds that an insurancetechnology company's innovative approaches, such as mobile technology utilisation andstrategic partnerships, have significantly increased insurance coverage and provided a safetynet for vulnerable populations, which has implications for the scalability of similar modelsin comparable markets. The research contributes to the academic discourse on insuranceinclusion, highlighting the role of InsurTech in achieving Sustainable Development Goalsset by the United Nations and providing recommendations for further enhancing the reachand impact of insurance technology initiatives. As such, the study takes its place among otherstudies in the disciplines of business leadership and management