Intelligent Issue 7 - Page 48



Louw Hopley , Founder and CEO of Root
Here , Louw Hopley , Founder and CEO of Root , tells us more about this partnership and how it has benefited the company and the insurance industry in South Africa …
FinChoice – sister company to HomeChoice – has launched a Personal Accident Plan using Root ' s platform , with the aim of selling life insurance to its urban customer base . Here , Louw Hopley , Founder and CEO of Root , tells us more about how this partnership is benefitting both companies , as well as the current state of South Africa ’ s insurance industry .

Root has joined forces with FinChoice to launch a Personal Accident Plan designed specifically for South Africa ' s tech-savvy , urban population .

The new product , underwritten by Guardrisk , offers a lump sum of up to R50,000 for accidental death and permanent disability , plus an additional
R2,000 which can be used for airtime , travel or groceries .
Using Root ' s InsurTech platform , FinChoice has been able to launch this insurance product faster and more efficiently . The speed to market has been cut drastically , and the system allows customers to be covered as soon as they sign up .
Can you tell us more about Root and its mission ?
Our mission is to turn large companies into innovative insurers . We help companies who are ready and motivated to enter the digital age and meet consumers where they are . We do this by building an insurance operating system – a platform that brings all the different insurance players together to work together easily , irrespective of which technology they already have .
What does your day-to-day look like at Root ?
I am focused on the direction of the company and resolving any bottlenecks
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