Guardrisk, a South African cell captive insurance company, is looking for innovative insurtech companies to help with its US$2.8 million LAUNCHPAD project.
Guardrisk, a subsidiary of Momentum Metropolitan, says that the goal of the effort is to use the power of its tech-enabled ecosystem to make it easier for relevant solutions to be made that will help customers, the shortlisted innovators, partners, and Guardrisk.
Today’s corporate landscape and the digital economy are continually evolving, necessitating the evolution of organizations in a fast-moving and cutthroat industry like insurance.
Xolani Nxanga, the managing executive for microinsurance and insurtech lead at Guardrisk, says that this means changing to meet customers’ evolving needs and the company’s and industry’s limits. “Insurtech solutions, in particular, can completely change a business and address customer needs,” Nxanga said.
Each startup will get customized help from the initiative. This help will come from funding and business and technical mentoring.
Guardrisk will work with venture capitalists through LAUNCHPAD to co-invest in and help business owners of scale-ups in the insurtech sector and companies whose products are new and interesting enough to provide real, quantifiable economic value.