Turaco – Insurance in Sub-Saharan Africa

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.