Founders from SA startup InvestSure excited after inclusion on Insurtech100 list

The founders of Johannesburg-based insurtech startup InvestSure are over the moon after being included on the Insurtech100 2019 list.

The Insurtech100 is an annual list of 100 of the world’s most innovative insurtech companies selected by a panel of industry experts. This year’s edition was released this week. It was compiled by Fintech Global.

The list (opens as PDF) helps senior management and insurance professionals evaluate which digital insurance models have market potential and are most likely to succeed and have a lasting impact on the industry.

InvestSure was founded in 2017 by Ignatious Nkwinika, Mbulelo Mpofana and Shane Curran

InvestSure has created what it claims is a world first — insurance that protects innocent shareholders from loss caused by allegations of management fraud and dishonesty of Johannesburg Stock Exchange (JSE) listed companies.

The startup’s service is currently available on the EasyEquities platform and the startup said in a statement yesterday that it is working on integrations with multiple investment platforms in South Africa. It also plans to roll out the product to all investors in South Africa in December.

The startup was founded in 2017 by Ignatious Nkwinika, Shane Curran and Mbulelo Mpofana (pictured above, left to right). InvestSure raised $9.6-million in its first funding round earlier this year (see this story).

‘Extremely proud of achievement’

Curran said the startup is “extremely proud” of the achievement and thanked the panelists for the recognition.

“This shows the world that South Africa is a market to watch in the insurtech industry,” he added.

Mpofana said achieving this recognition a few months after the startup celebrated its first anniversary indicates that InvestSure is on the right path and is excited to introduce its product to new markets.

It appears InvestSure is the only African startup to have made the Insurtech100 list.

The 100 insurtech solutions on the list were selected based on the following criteria:

• Industry significance of the problem being solved
• Growth in terms of capital raised, revenue and customer traction
• Innovation of technology solution
• Potential cost savings, efficiency improvement, impact on the value chain and revenue enhancements generated for clients
• How important it is for insurance executives to know about the company

Companies that meet the criteria are nominated by a panel of insurtech experts. Thereafter, the founders and CEOs of the shortlisted firms participate in in-depth interviews and surveys.

Read more: SA insurtech Investsure in R9.6m round from 4Di, Lireas Holdings, Compass Insure
Read more: Merrill Lynch, Royal Bafokeng awards R4m to four black fintech startups
Read more: Seven SA insurtech startups to watch [Digital All Stars]
Read more: How Michael Jordaan inspired Investsure, the ‘world’s first cover for investors’

Featured image: InvestSure co-founders Ignatious Nkwinika, Shane Curran and Mbulelo Mpofana (Supplied)