There are plenty of redemptively minded businesses all around the world, but there are very few in the insurance market. Turaco is an insurance company that aims to reach low-income earners in Africa and provide insurance to them at the lowest price possible. According to their site (www.turaco.insure), only 2% of people living in sub-Saharan Africa are insured. Turaco wants to provide insurance in a fast, simple, and affordable way to people who otherwise could not afford it.
While insurance may not be the first redemptive business idea that comes to mind, Turaco has found a way to have a redemptive spin on insurance. They have put their focus on low-income earners to provide insurance to protect them from life’s unexpected events. They have insured over 200k people and paid 4k claims. Not only do they insure them, but they offer their services quickly and efficiently to their customers to keep them safe financially.
While Turaco is not giving away money to charity or products to those in need, they are providing insurance to people who initially did not have access to it. While insurance saves finances and provides opportunities, it still costs money that many cannot pay. Turaco has managed to offer their services to low-income earners and give them the financial security that they need. Especially in such a harsh climate as Africa, insurance can be vital and a lifesaver. Their services have saved many people and, therefore, is a redemptively minded company. They are not profiting off of these people because of their extremely low prices. Rather, they are providing a service to people who initially did not have the opportunity to. Turaco has made a lasting impact in sub-Saharan Africa and I hope they continue to grow and provide insurance to many more who need it.
Very interesting! Turaco is certainly a redemptive business, and they are doing so in a very innovative way. Financial security is important and this is a great way of helping people in sub-Saharan Africa. This is a great example of showing love to others, while also meeting their physical needs, which ultimately, should give them an appreciation for the people that God has placed in their life. Thanks for sharing!
I never thought of an insurance company as the type of company that would be redemptively oriented. But hearing about Turaco makes me wonder why I hadn’t thought about it in the first place. It’s certainly true that insurance is a little out of hand in today’s age, so to see an insurance company out there that’s Redemptively oriented would make me really consider it if they told me “We have the lowest rates in town!”
Wow! I am very impressed with even finding this company. Thank you for posting such an interesting company. I learned that Turaco is an insurance company that provides affordable insurance to low-income earners in Africa. Their goal is to help people who cannot afford insurance by offering fast and efficient services. Turaco has insured over 200k people and paid 4k claims. They are making a big impact by protecting people from unexpected events and providing a redemptive solution in the insurance market. Thank you for your research.