Naked Insurance was the overall winner at the eighth edition of the 2019 MTN Business App of the Year Awards. Photo: File

Naked Insurance was the overall winner at the 2019 MTN Business App of the Year Awards.

The eighth edition of the MTN Business App of the Year Awards concluded with the much-anticipated announcement of the overall and category winners in South Africa’s most prestigious app development competition. The winners were announced at a gala event held in Johannesburg last night.

The app uses cutting-edge artificial intelligence and chat-bots to give consumers insurance cover at the touch of a smart-screen in under three minutes. The app is almost fully automated to manage clients’ policies, keeping costs lower while driving greater efficiency.

Users have constant control over when and how much cover they have, and all claims and processing are done via the app. Naked Insurance charges a fixed fee of 20 percent of premiums for costs and some profit.  The remaining 80 percent of annual profit after claims, is given to local communities.

Recently the AI-driven car insurance provider introduced a new feature that lets car buyers generate a proof of insurance certificate for their car financing company in a matter of minutes.

"We at MTN Business were very impressed to see the calibre of entries in this year’s competition.  It’s truly rewarding to see how this premier app development platform continues to grow from strength to strength.  Ultimately, this is at the heart of everything that we do – it’s about creating platforms that enable innovators and entrepreneurs. Our congratulations go out to Naked Insurance for taking the top spot this year. They join a club of elite previous winners whose apps have gone on to become household names," said Wanda Matandela, Chief Enterprise Officer of MTN Business.