SixThirty makes first African investment into InsurTech startup
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<p>SixThirty has made a multi-million Rand investment in Cape Town-based InsurTech company <a href="https://click2sure.co.za/">Click2Sure</a>, marking the first time an African startup has caught the eye of theUS-based tech venture fund.</p>
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<p>SixThirty invests in early-stage enterprise technology companies building InsurTech, FinTech and Cybersecurity solutions. The investment will enable <a href="https://click2sure.co.za/">Click2Sure</a> to further develop its product and ensure businesses offering insurance take advantage of the benefits of digitisation: omnichannel distribution, reduction in administration costs, and better decisions with real-time reporting and insights, explains Daniel Guasco, who co-founded <a href="https://click2sure.co.za/">Click2Sure</a> in 2016.</p>
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<p>“Another reason we are thrilled to have SixThirty on board is their Go-To-Market Summer programme, where we were introduced to key individuals, Executives and other Founders well placed in the US market within blue chip companies, to help us get a foot in the door, and mentor us on what the US market and stakeholders expect to see from a startup and technology partner,” says Guasco.</p>
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<p>SixThirty’s investment in <a href="https://click2sure.co.za/">Click2Sure</a> was motivated by a recognition of the surprisingly low penetration of digital distribution in the insurance industry. Along with the forced digitalisation ushered in by COVID-19, SixThirty found <a href="https://click2sure.co.za/">Click2Sure</a>’s exclusive focus as an enabler of digital distribution a key differentiator that can help it scale into new sectors and markets.</p>
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<p>“<a href="https://click2sure.co.za/">Click2Sure</a> doesn’t sell insurance. We provide our clients who sell insurance with a comprehensive cloud-based, digital platform for the distribution, management and purchasing of insurance at the point of sale,” explains Guasco.</p>
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<p>Digitisation replaces the time-consuming manual process of filling in multiple page policy documents. It also means insurers can get new products to market much faster and diversify their revenue streams.</p>
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<p>The customer-centric offering lets customers buy insurance through any digital channel, depending on their preferences. These could be web/mobi channels, WhatsApp, SMS, eCommerce, and QR Codes. This satisfies the modern customer’s need for accessibility, convenience and speed as insurance companies can provide almost immediate coverage via a mobile app for example.</p>
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<p>Guasco, who was previously CEO of Groupon South Africa and the founding director of online group buying website Twangoo, says: “Digitisation has many benefits for consumers; being able to use digital channels increases accessibility for the under- and uninsured, enables customisation of insurance cover, and assists customers in getting the most affordable insurance cover.”</p>
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<p>SixThirty joins Greenlight Reinsurance, another US based investor, amongst other investors, as capital partners in <a href="https://click2sure.co.za/">Click2Sure</a>.</p>
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