In this episode we are joined by Jeremy Leach, CEO and founder of Inclusivity Solutions, based in Cape Town, South Africa.
Leach talks to us about how he started Inclusivity to improve access and innovation in insurance across the African continent, by focusing on digital inclusion for the connected but unprotected, and listening intently to these customers’ needs. Inclusivity has made great strides incorporating a framework by GSMA that shows that mobile money providers who offer a combination of savings, credit or insurance products have average 24% higher revenue per user.
Leach has had an extraordinary career, beginning as a chartered accountant and then re-skilling in international development as he became more excited about solving mass market problems. After working extensively on financial inclusion for the UK Department of International Development (now the FCDO) and as executive director of Finmark Trust, Leach received seed funding from a range of investors and angels and recently concluded a further series of funding with Goodwell Investments. He has plenty of advice for aspirant startup founders on the continent.
Goodwell Investments and Inclusivity Solutions are massive believers in responsible corporate citizenship and in their work across the continent, encourage their peers and stakeholders to sign up for the Responsible Investing in Digital Financial Services Guidelines to improve the resilience of their customers and ecosystems by promoting robust due diligence and fair, transparent pricing.
Inclusivity has collaborated with Orange, Equitel and Tigo in rolling out access to insurance products in Africa. In the show we also look at some new collaborations in the pipeline such as the recent launch of Thandizo with Hollard Insurance providing income protection in Zambia, one of the hottest markets on the continent for digital financial services.
Thandizo income protection cover provided by Inclusivity x Hollard in Zambia
GSMA State of Industry Report on Mobile Money
Responsible Investing in Digital Financial Services Guidelines