Grace Ashiru
Guardrisk has launched a new Initiative called LAUNCHPAD which aims to support insurtech Startups. They are a South African cell captive insurance provider with a budget of ZAR50 million($2.8 million) and are on the lookout for partnerships with venture capital investors. A Partnership with them would result in sufficient support for entrepreneurs mainly in the field of insurtech scale-ups and startups that can provide a tangible innovative solution that renders value to people.
Guardrisk intends to utilize the capabilities of its tech-enabled ecosystem to create opportunities and solutions that will be of value to the company, its partners, customers, and entrepreneurs. According to Xolani Nxanga, managing executive for microinsurance and insurtech lead at Guardrisk, The business landscape is constantly evolving and organizations in the insurance sector must also evolve alongside it to stay relevant. He added that technology aimed at insurtech solutions can turn businesses around and address the challenges of clients
Their Initiative LAUNCHPAD will provide financial and non-financial aid to selected entrepreneurs through funding, business, and technical mentorship and help entrepreneurs discover the best and most effective distribution channels that correlate with each venture’s expertise. In addition to that, Guardrisk intends to help entrepreneurs navigate opportunities and challenges they may be exposed to in the process of growing their businesses. Nxanga reiterated that Guardrisk is an entrepreneurial-minded business by nature and is capable enough to help entrepreneurs grow and develop products and services that solve clients’ needs while encouraging flexibility, convenience, and cost-effectiveness.
“We are excited about the opportunity to partner and collaborate with entrepreneurs and venture capital investors to build a robust insurtech ecosystem that pushes beyond industry boundaries and uses innovation to solve real customer and business challenges in South Africa.”
The LAUNCHPAD initiative provides an excellent opportunity for startups to receive the needed support to improve their business and come up with innovative solutions that can handle the ever-changing needs of the industry and its customers. They are calling on all entrepreneurs and investors who are interested in partnering with Guardrisk to provide valuable insurtech solutions. More information can be found on the company’s website.
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