FF News Logo
Friday, September 12, 2025
Sibos | FFNews

Breaking News

The 4th Financial Innovation Forum – Payments & RegTech Arrives in London Double UK eCommerce Award Shortlisting for Ecommpay Candescent Appoints Donald Chesnut as Chief Design Officer to Drive Digital Innovation Meanwhile Sees Unprecedented Demand for BTC Life Insurance, Offers Policy With 0.25 BTC Minimum Global Payments Announces the Launch of its Genius™ for Enterprise POS Solution Upbound Group Announces Appointment of Chief Growth Officer UPS and American Express Announce Collaboration at the Intersection of Logistics and Payments Zimpler Live With Swish As First Payment Institution Ever Pilot of Cross-Border QR Payment Linkage Launched between China and Indonesia EBANX Launches Integration With Capitec Pay, Enabling Open Banking for Cross-Border E-Commerce in South Africa Weather Protection at Agents’ Fingertips: Vortex Partners with First Connect LianLian Global Partners with UnionPay International to Expand Access to Seamless Cross-Border Money Transfers Introducing MoonTags: Send Any Crypto, to Anyone, Instantly OatFi and GigSafe Partner to Launch Early Pay Program for Contingent Workforce Pathward and Oportun Extend Lending Partnership
Insurtech, Turaco, Celebrates Insuring Over 1,000,000 People Across Africa

June 19 2023

Insurtech, Turaco, Celebrates Insuring Over 1,000,000 People Across Africa

Share this post:

Share on LinkedIn Share on WhatsApp

Turaco, the leading African insuretech distributing affordable insurance, is proud to announce it has surpassed 1,000,000 lives insured. Turaco raised a $10m Series A in September 2022, and is using that investment to grow rapidly. Operating in Nigeria, Kenya, and Uganda, Turaco provides access to a much needed safety net against financial shocks to mass market consumers.

350,000 of those protected by the company signed up in the last 3 months as part of a newly launched partnership with Airtel Money Uganda and Prudential Uganda. The rapid customer uptake reinforces the demand for Turaco’s innovative and customer centric products and approach. From a simple 2-step USSD sign-up process to an average 15 hour turnaround time on claims processing and payment, the Airtel Hospital Sente product is designed to be simple and easy to use.

89 million Africans face a catastrophic health event annually, spending up to 10% of their income on a single event, and health shocks push 14 million Africans into poverty each year. This is in part because < 2% of people in East and West Africa have access to insurance. Turaco expands access to affordable and simple insurance products. They do this by forming partnerships with top tech-enabled companies such as M-KOPA, Paga, One Acre Fund, and Vision Fund to design white-labeled products. Customers are then able to sign-up and pay for insurance as they buy these other products or services.

Ted Pantone, CEO and Co-Founder, Turaco said, “We founded Turaco with a vision to insure the next 1 billion people. Surpassing 1 million customers is an important and validating milestone in that process. More importantly, this number represents 1,000,000 individual mothers, fathers, children, and community members that have access to better health care and improved financial resiliency as a result of Turaco insurance. We are excited to continue on our path to 1 billion people insured.”

People In This Post

Ted Pantone

Companies In This Post

Turaco | Fintech Finance

Turaco
  1. The 4th Financial Innovation Forum – Payments & RegTech Arrives in London

    Events

     Read more
  2. Double UK eCommerce Award Shortlisting for Ecommpay

    News

     Read more
  3. Candescent Appoints Donald Chesnut as Chief Design Officer to Drive Digital Innovation

    Hiring

     Read more
  4. Meanwhile Sees Unprecedented Demand for BTC Life Insurance, Offers Policy With 0.25 BTC Minimum

    Insurtech

     Read more
  5. Global Payments Announces the Launch of its Genius™ for Enterprise POS Solution

    News

     Read more
Sibos | FFNews
More On