Turaco Insurance Group Director of Business Development Cedric Todwell during a previous event. [File, Standard]
Technology-driven microinsurance provider Turaco has signed a partnership deal with ASA International aimed at easing access to the African market.
The partnership deal was crowned by the launch of an enhanced credit life insurance designed to provide uninterrupted protection against credit, life, and health-related risks for their clients across the African region.
The partnership is expected to significantly contribute to raising insurance penetration in Africa from the current 2 per cent to double digits, while also advancing key Sustainable Development Goals, reducing poverty, improving healthcare access, and fostering lasting financial resilience.
Just at $0.30 per month, the policy requires no complex paperwork and is seamlessly integrated into ASA’s existing loan systems, easing the burden on both clients and loan officers.
Turaco’s group director of business development, Cedric Todwell, said the firm’s end-to-end digital platform supports onboarding, policy administration, and claims processing through seamless API integration.
This, he said, allows clients to initiate claims using mobile channels, reducing friction and ensuring fast turnaround.
“We’ve now grown to protect over 4 million lives across the continent and we have done it by combining execution, technology, and deep partnerships,” said Mr Todwell.
He added, “We are honoured and delighted to be partnering with ASA International across all eight of their African markets. This partnership directly aligns with Turaco’s bold vision to insure 1 billion people in emerging markets.”
His sentiments were echoed by group CEO Ted Pantone who emphasised the broader impact of the partnership.
“This insurance product is a statement that inclusive protection can be done at scale. Together with ASA International, we are embedding dignity, security, and peace of mind directly into the financial journey of millions across Africa,” said Pantone.
Rob Keijsers, Group CEO of ASA International said unlike traditional credit insurance that primarily safeguards lender portfolios, the new product prioritises clients and their families, offering a financial safety net during times of crisis.
“This launch represents an important step for ASA International as we seek to deepen and broaden financial inclusion by offering access to life and health insurance services that have traditionally been out of reach for many,” said Mr Keijsers.
The enhanced credit life cover replaces ASA International’s previous death-only cover, expanding benefits to include health-related claims and faster payouts.
The initiative follows a successful pilot in Uganda and marks the beginning of a broader rollout across ASA’s eight African markets.
Turaco Insurance Group Director of Business Development Cedric Todwell during a previous event.
[File, Standard]
Technology-driven microinsurance provider Turaco has signed a partnership deal with ASA International aimed at easing access to the African market.
The partnership deal was crowned by the launch of an enhanced credit life insurance designed to provide uninterrupted protection against credit, life, and health-related risks for their clients across the African region.
The partnership is expected to significantly contribute to raising insurance penetration in Africa from the current 2 per cent to double digits, while also advancing key Sustainable Development Goals, reducing poverty, improving healthcare access, and fostering lasting financial resilience.
Just at $0.30 per month, the policy requires no
complex paperwork and is seamlessly
integrated into ASA’s existing loan systems, easing the burden on both clients and loan officers.
Turaco’s group director of business development, Cedric Todwell, said the firm’s end-to-end digital platform supports onboarding, policy administration, and claims processing through seamless API integration.
This, he said, allows clients to initiate claims using mobile channels, reducing friction and ensuring fast turnaround.
“We’ve now grown to protect over 4 million lives across the continent and we have done it by combining execution, technology, and deep partnerships,” said Mr Todwell.
He added, “We are honoured and delighted to be partnering with ASA International across all eight of their African markets. This partnership directly aligns with Turaco’s bold vision to insure 1 billion people in emerging markets.”
His sentiments were echoed by group CEO Ted Pantone who emphasised the broader impact of the partnership.
“This insurance
product is a statement that inclusive
protection can be done at scale. Together with ASA International, we are embedding dignity, security, and peace of mind directly into the financial journey of millions across Africa,” said Pantone.
Rob Keijsers, Group CEO of ASA International said unlike traditional credit insurance that primarily safeguards lender portfolios, the new product prioritises clients and their families, offering a financial safety net during times of crisis.
“This launch represents an important step for ASA International as we seek to deepen and broaden financial inclusion by offering access to life and health insurance services that have traditionally been out of reach for many,” said Mr Keijsers.
The enhanced credit life cover replaces ASA International’s previous death-only cover, expanding benefits to include health-related claims and faster payouts.
The initiative follows a successful pilot in Uganda and marks the beginning of a broader rollout across ASA’s eight African markets.
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By Teresia Karanja