Insurtech in most African Insurance market still remain largely untapped. However, Insurers in Kenya are beginning to see clear evidence of how technology is helping them reduce costs and curb fraud. The opportunity to reduce loss related to fraud is driving the adoption of digital solutions that offer data analysis and the ability to source actionable data.
According to Mr Tony Wood MD of Kenyan e-Health firm MYDAWA “Over 30% of claims to Insurance Companies are fraudulent. Our services help reduce that numbers” because we give clear information to Insurance Companies when we scan prescription of patients.
MYDAWA has signed agreements in place with Insurance firms including Sanlam Insurance.