Kenyan Insurtech Startup MotiSure launches API-powered Platform

Kenyan Insurtech Startup MotiSure launches API-powered Platform

Kenyan Insurtech startup MotiSure has announced the launch of its API-powered platform to provide personal accident cover for commuters and riders through embedding insurance in tickets and other points of sale within mobility.

MotiSure was co-founded in 2021 by the trio of Joel Macharia, Jane Njau, and Thuita Wachira. The launch of the platform came after the trio had sampled over 400 bike riders about why they did not sign up for existing insurance solutions.

Through the sample, they discovered that road users barely subscribed to insurance policies because they were expensive and rigid.

Joel Macharia speaking said: “Their issues primarily were affordability, on-demand, the flexibility of cover, benefits offered, and ease of access of insurance. Above all, they cared more about themselves than the asset, especially in the event of an accident. As a result, we have come up with a cover that is resonating with most of them.

“Traditional personal accident insurance is expensive, rigid and out of reach for over 600 million people who commute every day and risk getting into an accident in Africa.”

MotiSure will leverage its innovative and telematics tech to the moto-taxi industry to help solve this problem for commuters in the region. Having already tested the product in the market with over 4,600 pilot users, the startup is now seeking to roll it out with its first big client.

“We have had zero claims with the pilot users of our platform and we have seen a lot of mobility service providers in Kenya and other various markets reaching out for partnership to roll out our cover through them.

“From the confirmed ones we are looking at over two million trips and over 45,000 riders covered within the next six months to one year.

“Some of the clients we are signing up are already in at least four countries in Africa, we will be rolling the product out in phases through them and other partners that are interested in this type of microinsurance product.

“We get to keep a percentage of the premiums paid by our clients – almost half. We use this to enable us to give some of our partners a free asset tracking and telematics platform for their internal use” Macharia said.