Brolly, an insurance technology company based in Ghana that specializes in providing low-cost auto coverage, has been chosen to participate in the Summer 2023 cohort of the globally renowned Techstars accelerator programme in Tulsa, Oklahoma.
The firm that provides various payment options for auto insurance coverage was one of 12 companies chosen for this year’s Techstars Tulsa accelerator programme. The candidates for this programme were among the highest quality, and there were over 300 total applicants.
Brolly will receive an equity investment as part of the accelerator package, in addition to being connected to a global network of mentors and receiving resources that will assist in the expansion of the company.
The business will also have access to the network of possible investors that is maintained by Techstars, which will be very helpful as they attempt to raise a round of finance to fuel their expansion into Nigeria and growth in Ghana.
Since its soft launch in Ghana, Brolly has seen an average growth in the number of its customers of 73% month-on-month despite having spent no money on marketing. Brolly is sure that its artificial intelligence capabilities will enable quicker service delivery and more efficient customer care that is informed by data, and they are preparing to deploy version 2 of its software.
Read also: Bolt to Implement selfie verification procedure for drivers in South Africa
About Techstars
Techstars is a global network that assists new business owners in becoming successful. Techstars is an organization that was established in 2006 and it was founded on three basic beliefs: entrepreneurs build a better future for everyone, cooperation drives innovation, and brilliant ideas may originate from anyone.
Techstars’ objective is to make it possible for each and every person on the earth to contribute to the success of entrepreneurs and to benefit from that success.
Techstars is an organisation that, in addition to administering accelerator programmes and venture capital funds, connects entrepreneurs, investors, businesses, and cities in order to assist in the development of flourishing startup communities. More than 2,200 firms, with a total market cap valuation of over $29 billion, have received funding from Techstars, which has made investments in such companies.
Towntalk Nigeria establishes information framework for risk management
About Brolly
Brolly is an insurance technology company that offers customers in Africa alternative payment options and usage-based premiums for their auto insurance policies.
The organization has thus far introduced coverage for weekly payments for “Online drivers” (partner drivers of Uber, Bolt, Yango, Feenix, and Shaxi) and taxi drivers, in addition to possibilities for monthly payments for salaried workers.
The time it takes to get covered is cut in half from two hours to five minutes thanks to the application of artificial intelligence by Brolly, which also provides customers with an experience that is unparalleled in the Ghanaian market.
The company intends to roll out an intelligent pricing algorithm in the near future, which will give clients more say over the total amount that they must spend.
One of the founders Bernard Baah remarked, “Brolly was born out of the fear of being on the customer side of the fence.”
“After 15 years of tasting all the sides of the insurance industry, I was troubled that everything had to be the insurer’s way, from pricing to contracts which are written in 18th century language, and the dreaded domain of claims. Beginning with auto insurance, we’re reimagining insurance for the new African.”
