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Description
Alpha Direct is a Botswana-HQ, Africa-focused risk carrying Insurtech that is focused on using cloud, big data and A.I. to deliver compelling insurance products for Africa?s growing consumer market. The insurance sector in Africa is underpenetrated vs. most of the World. The insurance market in Africa is currently a US$70 billion market and expected to grow to US$200 Billion in the next 5 years. Alpha Direct is focused on the fastest growing segment of the population ? those in living standards measure 4-6, who have limited access to the internet, but a growing number of assets that need insurance protection. For this vast underserved market, the barriers to insurance penetration are complexity, accessibility, and affordability. Alpha Direct specializes in solving these three problems.
Opportunity
The company has become the fifth largest general insurance underwriter in their home market in under 5 years and is now focused on regional and continental expansion across Africa as well as entering the life insurance market. The company has a strong stable of intellectual property including software, trademarks and patents. The company recently won The African Insurance Award for Innovation of the Year, for their insurance-in-a-box product sold through retail outlets (with a cloud-based activation and policy management platform) where they have acquired 40,000 customers and are scaling up rapidly.
Our Company Contributes to the Following United Nations Sustainable Development Goal(s)
Location(s)
Sango Ota, Nigeria - Headquarters
Staff
74
Industry
Financial Sector
Year Founded
2014
Program Year
2018
About Stanford Seed
Stanford Seed is a Stanford Graduate School of Business initiative that partners with entrepreneurs in emerging markets to build thriving enterprises that transform lives. The companies listed in this directory have participated in the Seed Transformation Program (STP)—a yearlong, on-the-ground leadership program for established founders and CEOs in emerging economies focused on growing their businesses and increasing the positive impact they have in their communities.
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