CAPE TOWN – Click2Sure Holdings, a South African full stack digital insurance platform, launched in 2017, has announced the formalisation of a partnership with Greenlight Re Innovations, part of Greenlight Capital Re, a specialist property and casualty reinsurance company headquartered in the Cayman Islands.
The announcement heralds recognition from the prolific organisation, and sets the local company on course to scale the business globally.
According to Orbis Research, the global insurance market had total gross written premiums of $4.6 trillion (R65 trillion) in 2016, representing a compound annual growth rate of 4 percent between 2012 and 2016. The platform's innovative API-first approach seeks to tap into that market, by simplifying the creation and deployment of insurance products through digital channels including distributing, managing and purchasing insurance at the point of sale.
The investment has been motivated by two factors – a unique cloud-based technology that is both modular and scalable, thereby disrupting a traditional face-to-face broker network, call centre, and server-based industry. Secondly, the experience of the founding partners, serial entrepreneurs Daniel Guasco and Jacques Van Niekerk.
Formerly CTO at Naspers, Jacques has served as chief technology officer to several e-commerce companies in South Africa including Takealot, Mr Delivery, and Prodigy Finance. Daniel previously led Groupon South Africa as CEO and prior to that was the founding director of online group buying website; Twangoo. The combination delivered a proposition that has attracted the attention of global players.