Kenyan Insurtech Startup, AiCare, Secures Funding From NaiBAN

Nairobi-based provider of telematics insurance system for insurance companies AiCare, has announced it secured funding from Nairobi Business Angels Network (NaiBAN).

AiCare is an Insurtech startup launched in 2020 by co-founder and CEO Arthur Mulwa, AiCare focuses on providing telematics insurance products to Insurance companies. The startup leverages its in-house technology and data to calculate and quantify a risk probability and scores it in order to offer objective insurance services.

AiCare allows insurance companies use the score provided by its calculations rather than  invest in the technology from scratch.

The investors released a statement that: “In NaiBAN’s view, this equates to a win-win-win: better intelligence for insurance companies and fleet managers so that they can make better decisions, right-sized and affordable products for consumers, and a potentially exceptional outcome for the founders and investors. Congratulations to the AiCare team. We are super excited to see what you do next”.

AiCare’s co-founder, Arthur Mulwa in a statement said that the startup will continue in its mission of empowering motor insurance companies by providing innovative telematics technologies.