Charlotte Koep at Root advises startup and early growth InsurTech businesses on how to scale in African markets and focus and play niche in global markets .

‘ Aerial view of Cape Town , South Africa ’

Brand value plays a significant role in sales and an established brand can make sales and partnerships easier .

One study shows that 63 % of InsurTech companies have a collaborative approach and focus on helping traditional insurers transition towards a more digital future , improved efficiencies and better customer experiences . These are key in today ’ s market . Customers get faster , more tailored and more affordable services . Insurers , in turn , become more efficient and competitive .

Driven by the rising demand for digital insurance solutions , there has been a steady rise in the number of InsurTech startups in South Africa , but what does it take for these businesses to be successful ?

InsurTech ’ s leadership teams have learnt hard lessons in the process of launching a company and insurance products developed on it .

Sales can be difficult

Recognise that InsurTech sales can be challenging . Merely having a product does not guarantee success . Defining the right product starts with choosing the right problem

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