Shut to twenty million automobiles ply the Nigerian roads at present. But in a quite stunning revelation, solely about one in 5 has real insurance coverage cowl.
The remaining 80% go about with faux insurance coverage papers obtained from unauthorised sources. This isn’t by any means excellent news for the Nigerian authorities and insurance coverage sector as about N50 billion is misplaced yearly to those faux insurance coverage practitioners.
What drives this message residence extra is what number of street customers who, within the occasion of an accident, are left with no insurance coverage cowl and compensation. One is tempted in charge the motorists for this disturbing problem however a more in-depth take a look at the issue reveals that different elements are at play as a lot of the unsuspecting motorists can’t even differentiate real insurance coverage firms from fraudsters peddling faux insurance coverage certificates.
Botsurance merely makes getting or renewing your legitimate car insurance coverage quick and hassle-free together with their legitimate paperwork in real-time utilizing chatbot and internet. Launched in November 2020, this dependable modern merchandise take away the chance of shopping for faux insurance coverage cowl whereas additionally fast-tracking the entire course of.
Who and who represent Botsurance’s goal market?
Botsurance helps defend unsuspecting Nigerians within the unserved, underserved, susceptible and low-income communities with real and reasonably priced insurance coverage merchandise, utilizing her web site and chatbot whereas leveraging Synthetic Intelligence. To drill it additional down, Botsurance customers are individuals above 22 years with notion that they want fundamental cowl.
How does Botsurance work?
Botsurance leverages know-how and in addition maximises relationship advertising by utilizing the company mannequin to achieve customers in underserved group. As soon as Botsurance receives the request for a brand new insurance coverage coverage or renewal from the person or agent, the tech-powered platform processes it instantly.
The person will get the softcopy of the insurance coverage doc in seconds whereas Botsurance delivers the exhausting copy paper certificates to the insured in lower than 24 hours by way of one in all its dependable supply companions. Insurees don’t even have to go to the insurer, they may get their certificates at their comfort.
With useful techniques comprising automated processes, this novel platform can develop and scale very quickly. As its clientele grows, the platform can scale accordingly with none issues.
Right now, Botsurance is evolving the way in which Africans see threat administration by seamlessly connecting potential insurees to the underwriter by way of its intuitive chatbot. The platform subsequently makes insurance coverage extra accessible, opening up extra prospects for insuree and extra enterprise for the insurance coverage agency in a win-win scenario.
With brokers resulting from earn an earnings for each insurance coverage transaction they perform of their group, thereby creating new job alternatives, good insurees are already leaping on the Botsurance practice and it’s not exhausting to see why. The platform has began with auto-insurance but it surely’s solely a matter of time earlier than the group comprising of tech professionals, Samuel Adekanmbi, Jane Orire and Oladoyin Anjorin, extends Botsurance companies into different sections of the insurance coverage trade.
Suffice it to say Samuel Adekanmbi, Botsurance’s CEO, is a member of the Chartered Insurance coverage Institute of Nigeria(CIIN) and an Affiliate Member of the Affiliation of Registered Insurance coverage Brokers of Nigeria (ARIAN). So, purchasers can relaxation assured they’re in protected arms once they use Botsurance.
