NEW YORK (PRWEB) May 03, 2021
Africa is one of the hottest regions on the globe with an insurance industry valued at $68 billion. In terms of GWP, it is the eighth largest in the world according to McKinsey. However this value is not equally distributed across the continent. Markets are inconsistent in terms of size, mix, growth, and degree of consolidation, with 91 percent of premiums concentrated in just ten countries.
In order to help bring the benefits of increased insurance coverage to more areas within Africa, Africa InsurTech Rising (AIR) with support from InsureTech Connect (ITC), is launching an international innovation program called “The Bridge”. Launching May 3, it’s been built to identify and showcase innovative insurance technology products and solutions by startups/founders for the purpose of stimulating new and existing players that will shape, reshape and unlock new value chains and markets in the insurance industry specifically in Africa. This program will provide B2B opportunities, mentorship, visibility, capital access and sparring opportunities to startup/founders.
"Supporting AIR for this unique initiative aligns with our broader mission,” says Jay Weintraub, CEO & Co-Founder of Insuretech Connect. ”ITC recognizes the important role that innovation plays in developing nations, with Africa being a land of amazing opportunities for leapfrogging forward in the insurance space. This program will shine a light on the most cutting edge technologies emerging today."
"We're excited to be hosting The Bridge summer program to highlight the unique startups bringing much needed innovation to the insurance industry throughout Africa,” says Dr. Tunde Salako, CEO & Co-Founder of Africa Insurtech Rising. “A partnership with a global brand like ITC will have a tremendous impact on raising awareness of the opportunities arising in these up-and-coming markets."
Submissions can be made here: https://africainsurtechrising.com.ng/summeriscoming/ and are due by May 31 with selected companies to participate in a virtual pitch day mid-June. The Bridge winners are set to be announced in July. All finalists will receive complimentary ticket to ITC Vegas 2021 and the winner will receive a complimentary kiosk and a speaking slot on the ITC Vegas 2021 Demo Stage.
About Africa InsurTech Rising
Africa InsurTech rising is Africa’s premier and best platform, aggregating all stakeholders in the InsurTech ecosystem with a focus on the African insurance space, passionately reverse engineering insurance inclusion on the continent via technology.
For more information, please visit https://africainsurtechrising.com.ng
About InsureTech Connect
InsureTech Connect (ITC) is the world’s largest insurtech event, offering unparalleled access to the largest and most comprehensive gathering of tech entrepreneurs, investors, and insurance industry executives from across the globe. Founded by Jay Weintraub and Caribou Honig, ITC has been attended by over 25,000 people from 65+ countries. Insuretech Connect 2021 will be held October 4-6, 2021 at the Mandalay Bay in Las Vegas.
For more information, please visit http://www.insuretechconnect.com.