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Startup launches insurance product

CURACEL, an insurance infrastructure startup, has launched Curacel Grow, an embedded insurance product that allows technology companies to offer insurance as part of their existing products and services.

According to the firm, it is also part of the Winter 2022 cohort of the Y Combinator accelerator programme. It added that Grow would support a more effective distribution of insurance to many Africans through partners like Barter by Flutterwave, Float, Payhippo, and other leading technology companies.

In a statement, the Chief Executive Officer and co-founder of Curacel, Henry Mascot, said, “Risk protection is a major consideration for Africa’s growing middle class.

“As it becomes easier to access credit and other financial services to enable new experiences, we want to make it easier to protect these experiences and enjoy them with full confidence.

“The success of various technology companies over the years has opened the door to many previously underserved people and we want to take advantage of this to accelerate the penetration of much-needed insurance products across the continent.”

The startup added that it would enable seamless embedding of insurance in customer user journeys. It said with its product, airlines would be able to offer travel insurance to their customers through simple APIs.

According to Curacel, it has a presence in eight African countries.

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