Kenya’s insurtech Turaco maintains 1 billion user target as it raises $10M funding

Insurance penetration in Africa is currently below 3% largely attributable to the slow adoption of innovation in the sector. Many underwriters rely on traditional systems involving agents and lots of paperwork to sign-up new customers, which limits customer reach, and hampers the uptake of their products. However, a change-point is in the offing as insurtechs like the Kenya-based insurtech Turaco introduce new technologies and products that are disrupting the market.
Through its B2B2C model, Turaco has created an expansive distribution channel that is enabling it to tap into a large pool of po

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