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Naked, South African Insurtech Firm Grabs $17mn

Things To Know About Naked

The privately held company founded in 2016 is headquartered in Johannesburg and is especially the sector working for financial services.

Naked is a future generation based insurance company. Here the users can easily redeem claims for insurance in a digital mode within a snap of 90 seconds without the requirement of any external help of an agent.

The Current Funding Information 

As per the current reports pick6 from Disrupt Africa, the following financial round was led by International Finance Corporation (IFC), a member of the World Bank Group which is also counted amongst the world’s largest global development institution centered and working on the emerging market. It also had an active participation from the firm’s like German Development Finance Institution (DEG) and Yellowwoods and Hollard, which are the company’s original investors .

The major services offered by the firm are  coverage for cars, homes, and for standalone items. The firm helps you to redeem these claims and offers through the help of using AI and automation to make this procedure completely digitalized. 

What Are The Views Of Leading Members Of The Firm On This 

Adamou Labara, IFC country manager for South Africa, shared about her views on this. To this he said “ Improving access to insurance products was a key driver of financial inclusion in South Africa as it has the potential to preserve assets, increase incomes and reduce uncertainties. IFC’s investment in Naked will help increase the penetration of tech-driven insurance in the country and contribute to job creation and economic growth.”Regarding to this statement, Thomson said, “More than five years ago, we set out to create an insurance platform that people would love for being fair, convenient, and transparent, at game-changing prices. Since our launch in 2018, we have been overwhelmed by customers’ enthusiasm for our offering and have exceeded our growth targets every year.”

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