Kenya - Startup under 3 years old

Décrivez votre projet en quelques mots

Seamless insurance

01.01 Décrivez votre startup en détail

Vooli Mobile application is an insurtech start up company that seeks to create a new digital ecosystem that addresses extensively overlooked aspects of insurance distribution.Vooli mobile insurance comes at a point in time where smartphones mobile penetration is at a whole time high. This is a chance to get new clients and retaining them through gaining new insights into them thereby eliminating traditional models. Vooli utilizes APIs from a multiple insurance companies to develop an array insurance quotes( from cheap to expensive) according to the data points we have collected from the client. This comparative pricing significantly lowers the cost of insurance since one can aggregate his/her risk with one company or select different companies for different risks.

01.02 Quel est le problème principal que vous essayez de résoudre ?

A staggering 97% of Africans are uninsured due to the cost of insurance, fraud and lack of access to flexible insurance options. Access to insurance and Inclusion- The insurance process is long, slow and winded and relies solely on salespeople leading to frustrations for the insureds. The solution to this is to leverage insurtech solutions, we propose that we create a seamless platform where we offer on demand insurance i.e. insurance that is affordable, easily accessible for all and above all tailored to meet the specific needs of an individual. Scaled globally the possibilities are endless,not only will we serve the uninsured and underinsured in Africa but also create a vibrant ecosystem where personal loss for example in expensive healthcare will be sorted.

01.03 Dites-nous quels sont les principaux avantages et/ou bénéfices de l'utilisation du produit/service fourni par votre startup (au moins 3).

Our on demand insurance platform comes in to insure this underserved and very vulnerable group by ensuring that firstly we educate them about the benefits of insurance as a safety net, saving plan and all round financial tool with the little they spare. Secondly, a fraud proof system to ensure that the insurance companies that take up the underwriting don't go under and avoid payment of claims and Finally, cheap on demand insurance that is tailored to meet the particular risk profile of the individuals in this class.

01.04 Veuillez décrire précisément à qui s'adresse le produit/service de votre startup. Quels sont les bénéficiaires visés ?

In Africa, MSMEs are estimated to contribute 70 percent of the region’s total employment. However,99.9 % of these have even the basic business insurance. Consequently, when a peril occurs eg fire, then the blunt of the loss is passed to the proprietor leading to personal losses and consequently poverty. Vooli insurtech comes in to resolve this issue, by offering targeted insurance in all classes, we eliminate the problem of blanket cover insurance cover making insurance cheap hence inclusive. All these services are delivered in a personalized app and web platform in a low pressure, interactive and professional manner.

01.05 Quand votre entreprise a-t-elle été créée ?

01/01/2022

01.06 Vendez-vous déjà votre produit/service ?

Oui

01.07 Combien y a-t-il de propriétaires de votre entreprise en plus de vous ?

2

01.08 Parmi les autres propriétaires, combien sont des femmes ?

1

01.09 Veuillez décrire le profil des autres propriétaires de votre startup (compétences, expérience, etc.).

We are a synergetic team of professionals who met back in Campus while working on Actuarial and Computer science projects respectively.The idea originated from a University final year project.We were working on "The link between Financial inclusion in insurance and levels of Poverty" We all met in University as Partners in this study, Combination of Tech savvy individuals and business majors. The current insurance penetration in Africa is less than 3%,this means that 97% of the population lives without any safety net whatsoever, this is a precarious situation because the current population is 1.4 billion and the average birth rate is 5 per woman The idea came to me while I was working for Britam insurance as an intern Financial analyst,i realized that as much as financial products keep rolling out,they do not reach the majority of the population,inclusivity was lacking. I realized that the insurance delivery method is also completely broken, one can only insurance from brokers, agents.

01.10 Si vous avez un site web, une page sur les médias sociaux (Facebook, Instagram, Linkedin...) ou une application, veuillez fournir le(s) lien(s) ici :

https://linktr.ee/vooli_insurtech

01.11 Quel est le secteur d'activité qui décrit le mieux votre entreprise ?

Services financiers

02.01.01 Ma startup contribue à l'objectif 'Pas de pauvreté'

7 - tout à fait d'accord

02.01.02 Justification de la contribution de ma startup

OAL 1 End poverty and all its forms everywhere-Over the last decade, insurance markets in sub-Saharan Africa (SSA) have grown from 4.5 million risks covered to more than 60million today. However, insurance penetration in SSA remains amongst the lowest in the world with life penetration at 0.3% and non-life at 0.5%, limiting its intermediation potential. Vooli insurtech is looking to design cheap and easily accessible insurance products that will promote resilience and therefore positive risk appetites and therefore economic growth.

02.02.01 Ma startup contribue à l'objectif 'Faim Zéro'

1 - pas du tout d'accord

02.02.02 Justification de la contribution de ma startup

02.03.01 Ma startup contribue à l'objectif 'Bonne Santé et Bien Être'

1 - pas du tout d'accord

02.03.02 Justification de la contribution de ma startup

02.04.01 Ma startup contribue à l'objectif 'Éducation de Qualité'

1 - pas du tout d'accord

02.04.02 Justification de la contribution de ma startup

02.05.01 Ma startup contribue à l'objectif 'Égalité entre les Sexes'

1 - pas du tout d'accord

02.05.02 Justification de la contribution de ma startup

02.06.01 Ma startup contribue à l'objectif 'Eau Propre et Assainissement'

1 - pas du tout d'accord

02.06.02 Justification de la contribution de ma startup

02.07.01 Ma startup contribue à l'objectif 'Énergie Propre et Abordable'

1 - pas du tout d'accord

02.07.02 Justification de la contribution de ma startup

02.08.01 Ma startup contribue à l'objectif 'Travail Décent et Croissance Économique'

1 - pas du tout d'accord

02.08.02 Justification de la contribution de ma startup

02.09.01 Ma startup contribue à l'objectif 'Industrie, Innovation et Infrastructure'

7 - tout à fait d'accord

02.09.02 Justification de la contribution de ma startup

GOAL 9 Industry innovation and infrastructure-InsurTech is an ecosystem that brings together adjacent industries to provide an improved service of greater value to insurers and their customers. Adjacent industries of particular relevance include agriculture, health, cybersecurity, the sharing economy, wealth management, transportation and more. Vooli insurtech limited is increasingly leveraging the explosion of data and advanced analytics to help boost risk transparency, reduce the number of unknowns within risk models, curtail everyday accidents, mitigate damage, decrease underwriting risk, offer personalized premiums, expand insurability, and create novel products.

02.10.01 Ma startup contribue à l'objectif 'Réduction des Inégalités'

7 - tout à fait d'accord

02.10.02 Justification de la contribution de ma startup

GOAL 10 Reduced inequality-inequality influences the ability of individuals, households and businesses to withstand shock events. It manifests itself in unequal access to protection from insurance or insufficient knowledge of insurance.Our web platform and App is dedicated to increasing financial literacy and improving availability of insurance products in a scalable manner that can be replicated across multiple communities.

02.11.01 Ma startup contribue à l'objectif 'Villes et Communautés Durables'

1 - pas du tout d'accord

02.11.02 Justification de la contribution de ma startup

Reduced inequality-inequality influences the ability of individuals, households and businesses to withstand shock events. It manifests itself in unequal access to protection from insurance or insufficient knowledge of insurance.Our web platform and App is dedicated to increasing financial literacy and improving availability of insurance products in a scalable manner that can be replicated across multiple communities.

02.12.01 Ma startup contribue à l'objectif 'Consommation et Production Responsables'

1 - pas du tout d'accord

02.12.02 Justification de la contribution de ma startup

02.13.01 Ma startup contribue à l'objectif 'Lutte contre les Changements Climatiques'

1 - pas du tout d'accord

02.13.02 Justification de la contribution de ma startup

02.14.01 Ma startup contribue à l'objectif 'Vie Sous-Marine'

1 - pas du tout d'accord

02.14.02 Justification de la contribution de ma startup

02.15.01 Ma startup contribue à l'objectif 'Vie Terrestre'

1 -pas du tout d'accord

02.15.02 Justification de la contribution de ma startup

02.16.01 Ma startup contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

1 - pas du tout d'accord

02.16.02 Justification de la contribution de ma startup

02.17.01 Ma startup contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

1 - pas du tout d'accord

02.17.02 Justification de la contribution de ma startup

06.01 Un grand nombre de clients utilisent déjà un produit/service très similaire au nôtre.

7 = Tout à fait d'accord

06.02 Notre produit/service représente un type de produit/service entièrement nouveau

7 - Tout à fait d'accord

06.03 Notre produit/service pourrait être décrit comme une nouvelle technologie

7 - Tout à fait d'accord

06.04 Notre produit/service est une amélioration d'un produit ou d'un service existant

7 - Tout à fait d'accord

06.05 Notre produit/service pourrait être décrit comme une extension d'une gamme de produits ou de services

7 - Tout à fait d'accord

06.06 Notre produit/service répond à une demande ou à un besoin qui n'a pas été satisfait par d'autres produits/services.

7 - Tout à fait d'accord

06.07 Notre produit/service est une nouvelle version d'un ancien produit/service

7 - Tout à fait d'accord

06.08 Justification

Vooli uses valuation API technology to valuate premiums for the carriers (insurance companies).Insurance premiums vary due to insured declared values(IDV),specific client needs and risk profiles, we use that information to create the most cost effective insurance cover there is no one size fits all. By offering targeted insurance in all classes, we eliminate the problem of blanket cover insurance cover making insurance cheap hence inclusive. All these services are delivered in a personalized app and web platform in a low pressure, interactive and professional manner. Pricing Variable-Vooli utilizes APIs from multiple insurance companies to develop an array of insurance quotes( from cheap to expensive) according to the data points we have collected from the client.

06.09 Analyse compétitive

We know how important Insurance is to the value of our clients.The services provided by Vooli app and Website include everything you need in one place and at the best quality.We will also expertly perform all that is necessary to transition you from your current solution over to ours. In a world that is constantly changing, you can be sure that the folks here will be by your side with every step of the process. Our Insurance services center around our customers' most basic issues and openings for a desireable solution: technique, quality, expertise, delivery, efficiency, and sharpness.We have demonstrated a multiplier impact from streamlining the aggregate of the parts, not simply the individual pieces.

11.05 Menez-vous des actions au sein de votre communauté pour promouvoir le rôle des femmes entrepreneurs ?