“We must create a market for insurance in locations where people hardly understand this subject,” says Jeremy Leach, Founder and Executive Director of Inclusivity Solutions. He explains how his firm’s solutions improve the standard of living in low-income countries. Interview.
Can you describe Inclusivity Solutions in a few words?
Inclusivity Solutions aims at protecting and improving the quality of life of individuals who are exposed to risk in emerging markets, especially those who are uninsured. Therefore, we design, build, operate, and innovate digital insurance solutions in these markets. Innovation – part of our DNA – allows us to stand apart from other, similar companies.
Where do your activities find scope for innovation?
We focus on innovation in markets where typically only 2%-5% of the population owns insurance. We can then modernize along the value chain from customer-focused products to new technologies for policy acquisition to claims processing. As the world is changing so rapidly, we continuously need to adapt and bring new solutions to ensure satisfaction and meet the challenges. Indeed, we must create a market for insurance in locations where people hardly understand this subject or lack trust in insurance largely due to insurers’ dreadful reputation around claims performance. We are looking for partners to support new and innovative embedded insurance models that add value to their business as well as to the experience of their consumers.
How do you see your company evolving in the next five years?
We expect to continue to build on our world-class platform as well as continuing to innovate around the type of insurance products we offer, especially during crises like the pandemic. Finally, Inclusivity Solution’s ambitions are to expand from its one million clients across six countries to cover 100s of millions of customers across the broader emerging markets. In five years, we would like to become the first reference in this domain of activity in Africa.
“We focus on innovation in markets where typically only 2%-5% of the population owns insurance,” Jeremy Leach