The Business Day Banks and Financial Institutions (BAFI) Awards celebrates the great accomplishments of industry trailblazers across several categories in the financial industry including; Fintech, Banking, Insurance, Investments, Pension Funds and other Financial Services. The winner of the InsurTech of the Year Award was chosen based on the criteria that the company must be fully licensed to operate by Nigeria’s insurance regulator, NAICOM, and must be an innovative technology company that enhances, extends or replaces a traditional approach to servicing insurance customers’ needs. The company’s solutions/ products must also be solving real customer needs, with the view of creating genuine innovation in the insurance industry.
This win by Casava spotlights the exceptional feat Casava has been able to accomplish in a short period of time in a highly competitive industry.
Led by Bode Pedro, a veteran technology entrepreneur that has built many successful companies, including Veda Technology, one of Nigeria’s premiere computer hardware manufacturers, Casava has recorded significant milestones in 2022. In February 2022, the startup announced a $4 Million pre-seed funding to support customer acquisition and growth; product and technology development. Casava has also acquired more than 95,000 customers with $23 million in insurance coverage and was officially inducted as the first Insurtech and Microinsurance member of the Nigerian Insurers Association (NIA) in October 2022.
“Casava has experienced immense growth; from our customer base to our product offerings, but most importantly we are actively bridging the knowledge and accessibility gaps that exist in the ecosystem, making insurance affordable, appealing, valuable, relevant and enjoyable. We are transforming the way people experience insurance, by simplifying insurance and ensuring a fast claims process so that our customers can thrive and prosper in their lives,” said Bode Pedro, CEO Casava.
Casava is Nigeria’s first licensed microinsurance underwriter, creating insurance products that make it easier for income earners to protect themselves against life’s unforeseen events, including job loss and health emergencies.
Casava is Nigeria’s 1st 100% digital insurance company and the fastest-growing insurtech startup in Africa. We are making insurance affordable for income earners and protecting against crucial life uncertainties.
We are digitally rebuilding insurance from the ground up with our unique business model and an emphasis on great customer experiences to make it more data-driven, accessible and socially impactful. By leveraging technology, behavioural science and empathy, we will provide insurance with a great user experience, amazing value and instant benefits. To that end, we have built a vertically integrated company with a wholly-owned microinsurance carrier in Nigeria and a full technology stack to power it.