Finclusion Group is an African-focused fintech platform building out a complete neobank offering for its users. Today, Finclusion Group provides among its myriad services, earned-wage access, BNPL, and a direct credit offering, hosting a presence in South Africa, Eswatini and Namibia in Southern Africa, and Kenya and Tanzania in East Africa.
Finclusion Group Chief Executive Officer, Mr. Timothy Nuy, added that mTek’s capability to offer paperless insurance addressed a critical market pain point while noting that mTek’s continued growth and customer value-addition align perfectly with the fintech platform’s vision and expansion model.
“As a Group, we remain committed to driving financial inclusion on the African continent through innovative technology and also significant investments that can broker lasting change, identifying and addressing market needs, both present, and future. mTek’s platform has allowed for greater transparency in both the insurance and telehealth industries and we are pleased to partner with such technology that delivers – for the first time – paperless insurance in Africa,” said Mr. Nuy.
Insurance compensation | 247 claims lodged by policyholders of Resolution Insurance Company
“As health financing reforms in Kenya have peaked stakeholder interests from both the public and private sector, we take a long-game approach to this investment. The ‘one-stop shop’, the holistic plug-and-play insurance tech offering pioneered by mTek is a replicable nation on the nation, the continent over. We look forward to playing a lead role in that process,” Nuy added.
Since launching its platform in 2020, mTek has seen consistent and compelling growth, doubling its customer base and gross written premium every quarter to date through its revolutionary 100% paperless insurance. The insurance has also partnered with over 35 Kenyan underwriters to consistently provide its clients with a better and more transparent experience while purchasing and renewing their insurance policies.
mTek expects to reach one (1) million users through its innovative insurance offering by 2024 as it achieves its mission to provide insurance to the uninsured.
