Figtech (MyFIG) Limited

There is an apparent disconnect between prospective buyers’ views on short-term financial goals and priorities and the potential longer-term financial benefits of purchasing life insurance. Across Africa, the percentage of the population with Life Insurance is less than 3% compared to the rest of the world of 7.2%. Africa’s insurance industry is valued at about $68 billion in terms of GWP and is the eighth largest in the world—although this is not equally distributed across the continent. Most customers face challenges getting their heads around Life Insurance products. This is due to a lack of awareness, inadequate access to product information, biases and the fragmented nature of the industry. In addition, regulations have yet to evolve to adopt innovations such as digital platforms to help close the information gap. MyFIG is an Insurtech automated platform that harnesses time-saving processes, allowing fast, seamless access to information across Life Insurance companies and products. A single, centralised system for the customer, side-by-side comparison of Life Insurance products. As a cutting-edge Insurtech, we combine innovative technology, personalized solutions, and unmatched convenience to provide the user with the ultimate Life Insurance experience. MyFIG is here to revolutionize the way users think about Life insurance. Users buy policies and manage their insurance portfolio in one seamless, integrated experience. We create the transparency the user needs to optimize their sustainable Financial Health. Life Insurance cushions people against unforeseen risks, build retirement savings and contributes to inclusive finance development.