Greenlight Re Innovations, part of Cayman Islands-headquartered Greenlight Capital Re Ltd., announced it has invested in the digital insurance platform, Click2Sure.
South Africa-based Click2Sure has developed a comprehensive digital platform for distributing, managing and purchasing insurance at the point of sale. The amount of the investment was not disclosed.
Click2Sure was launched in 2017 by entrepreneurs Daniel Guasco and Jacques Van Niekerk. Guasco previously led Groupon South Africa as CEO and prior to that was the founding director of online group buying website, Twangoo. Van Niekerk has served as chief technology officer to several e-commerce companies in South Africa including Takealot, Mr. Delivery and Prodigy Finance.
“We are pleased to be partnering with Click2sure and support Daniel and Jacques as they develop new ways for companies to engage and provide value to their customers,” said Greenlight Re Chief Executive Officer Simon Burton. “The Click2sure platform enables a radical transformation of the customer experience and a cost-effective way to deliver insurance products to under-served marketplaces.”
“We are delighted by the financial investment, but more so by the endorsement of our unique full-stack, multiple digital platform capability and potential,” said a joint statement from Guasco and Van Niekerk. “This partnership has brought global recognition to a South African business and we welcome the insights that Greenlight Re Innovations will introduce to the platform.”
Click2Sure is the third investment announced by Greenlight Re Innovations, which was launched in March 2018 to seek technology and innovation opportunities relating to the reinsurance and insurance markets. On Sept. 28, it unveiled a strategic investment in Galileo Platforms, a blockchain-related business based in Hong-Kong, which is focused on emerging markets in Asia.
On Oct. 5, it announced an investment in Sana Benefits, an Austin, Tex.-based third-party administrator (TPA), focused on the rapidly growing self-insured health market in the United States.
Source: Greenlight Capital Re Ltd.
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