The top three shortlisted companies will be offered a platform to meet the insurance industry.The winner will get a cash prize of $20,000.
The reinsurance firm has asked interested participants to visit the website of the initiative. The window to submit applications is opened from February 18 to April 30.
The Group Managing Director, Corneille Karekezi, said the initiative is also part of the current African Insurance Awards programme and its grand finale will hold at a gala dinner during the annual conference of the African Insurance Organisation (AIO) in Johannesburg, South Africa on June 10.
According to him, technology is redefining the way we do business and the insurance industry is not left out of this disruptive change especially with the growth of InsurTech companies leveraging on best-in-class technologies to simplify the product life cycle for consumers,
He said: “As part of our corporate mission to develop the industry, Africa Re is launching InsurTech Challenge, an initiative which aims at identifying, promoting and rewarding technology companies especially start-ups owned by Africans or built by individuals’ resident in Africa that are solving some of the identified challenges in the insurance value chain.
“InsurTech Challenge is a new category of the African Insurance Awards. It is targeted at non-insurers that are collaborating with insurers to improve their customer service delivery, product development and overall innovation all around Africa,” he added.