Click2Sure: Groupon co-founder set to take on insurance sector

Daniel Guasco, the former Silicon Cape chairperson and ex-founding director of Groupon South Africa, has launched Click2Sure, which looks set to disrupt the insurance sector.

Guasco is also the co-founder of early-stage investment fund Team Africa Ventures, which is run by himself and co-founder Wayne Gosling.

The service stands out from traditional offerings by digitising the distribution as well as the management and administration of insurance.

“With Click2Sure, we have simplified the processes and limited the documents and human intervention required, that go together with traditional insurance offerings and have replaced them with a simple, completely customer-centric offering. As a result, we have been able to make insurance more affordable for the consumer,” said Guasco in a press release to Ventureburn.

Guasco and the rest of the Click2Sure team have worked closely with insurers to co-develop long-term and short-term insurance based on market demand. Their cover includes life insurance, medical insurance as well as public liability, credit risk, cyber theft and musical equipment.

Click2Sure’s cover provides protection against loss, accidental damage, and extension of warranties. The cover is provided in three or more different pricing options, depending on how much you can afford. Customers are also able to make once-off or recurring payments depending on the timeframe and the value of the item.

Click2Sure aims to disrupt the insurance market with their own unique offerings

For example, customers of Click2Sure are able to take out cover for the duration of their trip to a potentially risky event or environment instead of having to pay out for long-term life insurance.

Guasco’s company has also gone to great lengths to create a tailored offering. Partnering with many retailers both offline and online, they’ve created a service which allows customers to receive immediate cover on items such as bicycles, cellphones, handbags and hearing aids at the retailers’ point of sale.

The company has also simplified their policies into a one-page, easy-to-understand digital document. Click2Sure also allows customers to create their own account to insure their items online, being accessed via their cellphone for “on-the-go admin and management”.

“By putting the customer first in every aspect of our offering, we believe that we can easily achieve our aim of becoming the largest digital distributor of insurance in emerging markets,” concluded Guasco.

Ventureburn interviewed Guasco last month before the launch of Click2Sure, covering the company’s funding, expansion plans, and more.