Jeremy Leach is the Founder and Executive Director of Inclusivity Solutions, an award-winning insurtech focused on designing, building and operating digital insurance businesses in emerging markets. He tells Qorus’ Boris Plantier more about it.
What led to the creation of Inclusivity Solutions?
Inclusivity Solutions was born out of a recognition that insurance can provide significant value and impact, and yet in emerging markets the typical penetration of insurance is less than 10% of the adult population. Through a combination of deep expertise and understanding of the insurance market supported by a world class platform, we were created to innovate and enable access to insurance for millions of people and overall to delight the customer.
Unlocking the future: A deep dive into embedded insurance across key sectors
Could you present Inclusivity Solutions' offer?
Inclusivity Solutions offers an insurance-as-a-service (IaaS) platform, ASPin, enabling embedded insurance solutions in emerging markets supported by open APIs, no code and AI capabilities. Combined with our specialist insurance expertise, we enable distribution partners and insurance providers to rapidly deliver affordable and appropriate insurance products for emerging consumers.
Clients include businesses such as telcos, banks and fintechs wanting to enhance their core offerings by embedding insurance into them, and insurance providers such as insurers, brokers and bancassurance channels wanting to launch a range of digital insurance products rapidly or wanting a core policy administration system (PAS) for micro or embedded insurance products.
We now operate in nine African countries, with over 3 million customers on our platform so far. We have partnered with some of the biggest brands on the continent to weave insurance seamlessly into their products and services, including telcos like Orange, Airtel, MTN and Safaricom; banks like FNB, Stanbic and Equity Bank; insurers such as Old Mutual, Hollard and Prudential; and digitally native fintechs like Onafriq (formally MFS Africa), Bboxx and Maad.
What's coming next for Inclusivity Solutions?
Inclusivity Solutions will continue to innovate and scale, and has begun harnessing the power of AI to revolutionize insurance operations. Our AI-driven claims processing solution can act as a claims expert, making informed decisions based on the rules set and documents submitted. This capability not only speeds up the claims process – averaging 10 seconds per claim – but also reduces reliance on external experts, lowers operational costs, and improves the efficiency and consistency of claims assessments, especially in high-volume scenarios. And all in the local languages across Africa and beyond.
