February 7, 2023

Founded in 2015 by Daniel Guasco and Jacques Van Niekerk, the Insurtech company’s platform allows retailers, service providers, distributors, and brokers to offer a wide selection of developed insurance products at the point of sale. 

Traditionally customers will buy an item in-store or online, and then try to find the appropriate insurance product, and make a decision about which is the right one to get. 

They took that cumbersome and inefficient process and offered a solution that improves the process for both customers and businesses selling insurance – with minimum friction, completing the buying process in minutes, and not hours or days.

Click2sure also enables you to engage with your customer across multiple touchpoints, which advances accessibility, making the process simpler through the automation aspect. 

This is a huge opportunity for insurers to communicate better with customers, and deliver a clear and simple product, as well as automate many internal outdated manual administration processing.

Click2Sure doesn’t sell insurance but instead, they provide their clients who sell insurance with a comprehensive cloud-based, digital platform for the distribution, management, and purchasing of insurance at the point of sale.

How it Works

Insurance Software

Their digital insurance solution allows insurance companies and retailers to sell new insurance products to their customers fast, via their preferred channel.

Traditional insurers dealing in property, casualty, health, or life insurance, can digitize specific parts of the value chain – like distribution – or all of it, equipping the insurer with a complete insurance policy administration system (PAS).

With their technology, embedded insurance can be built into the uptake of funeral policies, travel insurance, pet insurance, or the purchase of almost any item from a fitness tracker to a watch, jewelry, camera, laptop, fridge, car, or industrial machinery.

ALSO READ  Africa Startup Funding: 11 Success Stories

Insurance Distribution

Click2sure can advance your distribution channel from the traditional broker-customer interaction to include web/mobi, E-commerce, QR codes, Whatsapp, Chatbot, SMS, and more; enabling always-on distribution. 

Customers can request policy re-quotes and updates or submit claims through their self-service dashboard, using any channel. 

The insurer can up-sell or cross-sell any other product on the customer dashboard, engaging the customer with relevant new offerings.

Meanwhile, comprehensive verification is achieved through ID number, bank account, sanction screening, OTP, or e-signature.

Policy Administration

A major component in the insurance value chain is policy administration; the daily end-to-end management of all group and individual insurance products distributed by an insurance business.

It is vital to have an effective policy administration system because policy administrators deal with large quantities of constantly-changing information. 

Today, insurance policy management and administration software can make that system 100% digital, scalable, agile, and housed in the cloud (SaaS).

Big Data

When Click2sure digitizes your insurance value chain, you gain a wealth of real-time data ranging from standard management reports (sales, age analysis, un/successful collections, and more) to bordereau reports (file download, FTP or API with insurer); easy to read live dashboards (claims, sales, churn, loss ratio, business mix) and data analytics. It’s all the information you need, at your fingertips.

Rest API

Their platform exposes REST APIs that enable integration with the functionality that it provides. 

Additionally, their core product is built using a microservices-based architecture, allowing modular service selection and flexible integration.

This also allows us to scale elasticity with load demand, reducing the cost of operating the platform.

ALSO READ  Twiga Foods: Story, Founders, Investors & Funding Rounds

Configuration

Click2sure has taken away the pain of long drawn-out IT development per product.

Based on their experience their product engine allows you to configure rules, prices, and documentation amongst others, with simple input fields, and no coding required.

Security

For secure user login, Click2sure has two-factor authentication, using SMS-based or app-based Time-based One-Time Pins (TOTP).

They also deploy the platform on AWS following industry best practices standards. They leverage managed services from the provider to enable high uptime rates and easy handling of scale. 

Additionally, they leverage AWS security solutions to ensure data is encrypted in flight and at rest and that all infrastructure is as secure as possible.

Therefore, you can safely assign users to multiple roles. The segregation of duties ensures customer data can only be seen by the appropriate user.

Customer Services

Click2sure provides face-to-face training in all features of our SaaS solution, with one of their Support Specialists. And online “How to” guides are easy to access.

Their support team follows the ITIL method of prioritization, where “Client Impact” and “Urgency” are the key factors that determine priority.

Additionally, their team has deep insurance knowledge, and a keen understanding of the wider business environment, helping them to look at a partner’s Insurance business holistically in terms of what products are distributed in what channels, reaching which consumers.

Founders

Daniel Guasco

Daniel Guasco

Daniel Guasco has three current jobs including CEO/Founder at Click2Sure, CEO at Twangoo South Africa, and Founder at Team Africa Ventures.

Daniel has been involved in several entrepreneurial ventures and blue chip businesses across 10 countries – from start-ups and SMEs; to launching Twangoo in South Africa in 2011, bought by Groupon, to become the most popular group buying site on the African continent.

ALSO READ  Shezlong: Story, Founders, Investors & Funding Rounds

Jacques Van Niekerk

Jacques Van Niekerk

Jacques van Niekerk has two current jobs as CTO at Click2Sure and Partner at Rosewood Due Diligence. 

Additionally, Jacques van Niekerk has had 3 past jobs including CTO (Interim) at Prodigy Finance.

Investors & Funding Rounds

SixThirty

SixThirty, a US-based tech venture fund, has invested in Click2Sure. 

With the undisclosed amount of investment funding, Click2Sure will be able to further develop its product offering.

In addition, it will assist in the promotion of Click2Sure’s focus on ensuring businesses that offer insurance take advantage of the benefits of digitization with an overall reduction in admin costs, real-time reporting data, and further insight. 

The US-based venture fund, SixThirty invests globally in early-stage Fintech, Insuretech, and cybersecurity tech-based companies. 

SixThirty was prompted to invest in Click2Sure due to the rapid movement towards digitization in the wake of the Covid-19 pandemic. 

Main Competitors

Jerry: This is an AI, ML, and bot-powered car ownership app that saves customers time and money on car expenses.

Plug and Play: It is an innovation platform bringing together startups and large corporations.

Sekure: This is an on-demand cloud insurance platform that empowers insurers, brokers, and stakeholders to provide digital insurance products.

Related:

Illara Health: Story, Founders, Investors & Funding Rounds

CarScan: Story, Founders, Investors & Funding Rounds

Good Nature Agro: Story, Founders, Investors & Funding Rounds

Leave a Reply

Your email address will not be published. Required fields are marked *

3 × 4 =

error: Content is protected !!