• Guardrisk this week announced a new insurtech investment platform called LAUNCHPAD.
• It is looking for South African entrepreneurs and venture capital investors to partner this initiative.
• The platform aims develop solutions to create value for customers, selected entrepreneurs, partners, and Guardrisk.

This week Guardrisk announced a new insurtech platform called LAUNCHPAD. For those unfamiliar with Guardrisk, it specialises in the provision of cell captive insurance, and is now looking to court potential local entrepreneurs and investors to partner with it via its newly launched platform.

The company explains that the initiative aims to utilise its technology-enabled ecosystem in identifying opportunities to develop relevant solutions, in turn creating value for customers, selected entrepreneurs, partners, and itself.

Guardrisk says it will partner with venture capital investors to co-invest in, and support, entrepreneurs in insurtech scale-ups predominantly. Added to this will be an investment in startups where the solution is seen as innovative and compelling enough to drive tangible and measurable business value.

“The digital economy and the business landscape of today is constantly changing, making it essential for organisations in a fast-paced and competitive sector like insurance to evolve to stay relevant. This means adapting to specific business and industry challenges and changing customer needs,” notes Xolani Nxanga, managing executive for Microinsurance and Insurtech lead at Guardrisk.

“Technology – and insurtech solutions, in particular – increasingly provide the ability to transform one’s business and address client challenges,” he adds in a press release sent to Hypertext.

Unpacking what it is looking for, Guardrisk highlights that there should be a real need for the product or service, with solutions relating to customer engagement, product development and innovative technology-based business models. 

“These can cover areas like customer engagement, underwriting, pricing, the claims process and payments – and should aim to improve the overall experience for the businesses and customers alike,” it adds.

“The initiative will provide tailored support for each entrepreneur, including both financial support through funding and non-financial support through business and technical mentorship. Support will also include finding the best and most effective distribution channels to match individual venture expertise,” the company continues.

To find out more about LAUNCHPAD, as well as make contact with Guardrisk, head here.

[Image – Photo by Towfiqu barbhuiya on Unsplash]