The emergence of the insurance sector allowed individuals to share risks and pool resources to lessen the effect of unforeseen disasters by offering financial protection against them.
Using technology to increase customer experience, efficiency, and cost savings. The traditional insurance sector has been disrupted by insurance technology. Artificial intelligence and machine learning algorithms are increasingly used to analyse massive volumes of data in order to correctly assess risk and price policies.
The first insuretech startup to take advantage of this technology and transform the South African industry was Pineapple Insurance. Ndabenhle Junior Ngulube, co-founder and chief developer officer of Pineapple, joins us on this episode of iAfrikan BYTE to explain where it began and what are all the technical ingredients needed to bake this.