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Kenyan Startup Develops App to Facilitate Access to Insurance in Africa

Kenyan Startup Develops App to Facilitate Access to Insurance in Africa

MotiSure was co-founded this year by Joel Macharia, Jane Njau and Thuita Wachira after they questioned over 400 cyclists on why they did not subscribe to existing insurance solutions.

“Their main issues were affordability, on demand, flexibility of cover, benefits offered, and ease of access to insurance. Above all, they were more concerned about themselves than the asset, especially in the event of an accident. As a result, we came up with a cover that resonates with most of them,” Macharia, a veteran in Kenya’s fintech space, told Disrupt Africa.

“Traditional personal accident insurance is expensive, rigid and out of reach for over 600 million people who commute daily and are at risk of an accident in Africa.”

MotiSure addresses this issue by applying innovative Internet of Things (IoT) and technology to the moto-taxi industry, and having market-tested the product with over 4,600 pilot users is now looking to implement it with its first major customer.

“We have had zero complaints with pilot users of our platform and have seen many mobility service providers in Kenya and other various markets looking to partner to extend our coverage through them,” Macharia said.

“Of those confirmed, we are looking at over two million rides and over 45,000 riders covered in the next six months to a year.”

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Based on this positive response, MotiSure is seeking funding, and plans to expand into “at least” three other markets within the next 12 months.

“Some of the customers we are signing up are already in at least four countries in Africa, we will launch the product in phases through them and other partners who are interested in this type of micro insurance product,” Macharia said.

“We are able to keep a percentage of the premiums paid by our clients – almost half. We use this to allow us to give some of our partners a free asset tracking and telematics platform for their internal use.”

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