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Turaco, one of the leading insurtech companies in Africa, becomes the first insurtech in Uganda to acquire an underwriting license, with a promise to be a leader in the provision of “affordable and simple microinsurance products, reaching unserved and underserved Ugandans in line with its global mission of insuring 1 billion people”. “Turaco Microinsurance will design and distribute simple products that target the key risks mass-market customers face, with policies starting at just UGX1,000 per month. Through its customer-centric approach, Turaco Microinsurance will offer terms and conditions that are simple enough to fit 3 SMS messages, such that even first-time…
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Letshego Uganda, a subsidiary of Letshego Holdings Limited (“Letshego Group”), has partnered with Africa’s leading insurtech Turaco Insurance Brokers Ltd (trading as Turaco), to provide affordable health insurance coverage to Letshego customers. The partnership aims to help mitigate health-related financial risks in line with Letshego’s mission of empowering the underbanked and driving financial inclusion in Africa. With a mere 1% of Ugandans currently covered by formal insurance plans, the partnership will help bridge that gap. Letshego customers will now be able to safeguard themselves and their families against unforeseen medical-related expenses. The “LetsGo Insure” insurance product will be an embedded…
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Turaco, an insurtech driving mass market insurance adoption, has announced the close of a $10 million Series A equity round led by AfricInvest, via the Cathay Africinvest Innovation Fund, and existing investor, Novastar Ventures. The round also included participation from Enza Capital, Global Partnerships, Zephyr Acorn, Operator Stack, Asi Ventures Limited, and Push Ventures. Founded in 2019, Turaco is a distributor, broker, and key customer interface between the underwriter and the end consumer. The insurtech company’s mission is to free people from the fear of financial shocks caused by unexpected health risks. Turaco is able to achieve this through a…
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VisionFund Uganda and Turaco Insurance Brokers Limited (T/A Turaco) are proud to officially announce the launch of their partnership with a microinsurance product called “VisionFund Cares”. The product offering, available to over 40,000 VisionFund customers and their families, is designed to help ease the financial burden associated with hospital admissions, permanent disability and death. The cover is underwritten by ICEA LION Life Assurance Company Uganda Ltd. VisionFund Uganda is a microfinance institution (MFI) and affiliate of World Vision Uganda that started in 1996 as MEDNET and later rebranded in 2012 as VisionFund Uganda. The MFI has grown to a footprint of 21 branches,…
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