YC-backed Curacel unveils new API platform enabling tech companies to offer insurance – TechCrunch

curacelthe YC-backed startup that is developing insurance infrastructure for the African market, has launched a new interface that enables digital businesses such as retail, fintech, e-commerce and logistics to add insurance to their core products.

The API-based tool, called Grow, has so far integrated with 22 tech entities in Africa, including Topship, Barter by Flutterwave, Float, Fingo and Payhippo, allowing them to bundle their core products with insurance packages or offer premium insurance. independently. Service. The tool also provides new growth avenues for insurance providers in the travel, health and automotive sectors by helping them distribute their products digitally.

By making insurance products readily available to users of popular digital technologies, Curacel Grow is expected to boost insurance access and adoption in Africa, where penetration is less than 3% and 1.2% without the huge South African market.

“The opportunity is huge. And we are not only seeing cases where people buy insurance for themselves, we are also seeing transactions that are insurable, such as you can combine loans and life insurance”, said the CEO and co-founder of Curacel. pet henrywho runs the startup from Nigeria.

Mascot’s entrepreneurial journey began in 2017, when he helped hospitals digitize records. However, it wasn’t until 2019 that he teamed up with co-founder Juan Dada (CTO) to build insurance technology, starting with a fraud detection system for a health insurance company, a pilot project that revealed a need for more technology in the insurance market.

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