Turaco, a rapidly growing insurtech company based in Africa, has achieved a remarkable milestone by surpassing 2.5 million customers. This significant feat was accomplished in just six years and spans four markets across the continent. The company’s recent growth, which saw an impressive 1.5 million new customers in the last year alone, highlights the increasing demand for accessible and affordable insurance solutions in Africa.

Turaco’s growth is fueled by its strong focus on serving end customers, many of whom are new to insurance. The company has built a reputation as a customer-centric insurer, proudly stating that they are in the “claim-paying business.” Their service is centered on providing real value to users by offering reliable insurance coverage that improves the quality of life for their customers. Many of these customers have reported reduced stress during medical emergencies, timely access to healthcare, and financial relief through quick claim payouts.

Ted Patone, CEO and Co-Founder of Turaco, expressed excitement about the company’s growth, stating, “Reaching 2.5 million customers in such a short time confirms that our vision of insuring 1 billion people is attainable. This milestone is more than just a number; it reflects real people whose lives have been positively impacted by our services. We are driven every day to ensure our customers have the protection they need for themselves and their families.”

Patone’s remarks reflect Turaco’s ambitious vision of insuring one billion people in the next 25 years. As part of this goal, the company aims to double the global number of insured individuals by providing affordable, accessible, and inclusive insurance products. In addition to benefiting customers, Turaco envisions a future where both team members and customers live healthier and happier lives by proactively managing risks.

The company’s success is a testament to the rising need for insurance inclusion across Africa, where traditional insurance providers have often been unable to meet the needs of low-income populations. Turaco’s approach to insurance prioritizes simplicity and affordability, making it easier for people who have never had insurance before to protect themselves and their families. With a focus on microinsurance products, the company offers low-cost, high-value insurance solutions that are tailored to the everyday risks faced by Africans, from health emergencies to accidents and more.

The positive impact of Turaco’s services extends beyond just financial relief. Customers have reported that having insurance has brought them peace of mind, knowing they are covered in times of crisis. This level of security is crucial, especially in regions where access to healthcare can be challenging, and out-of-pocket expenses can plunge families into financial hardship.

As Turaco continues to grow, the company’s innovative model is setting a new standard for insurance inclusion not just in Africa, but globally. By leveraging partnerships with businesses, mobile operators, and other stakeholders, Turaco has been able to scale its operations rapidly and expand its reach across different markets. This collaborative approach has allowed the company to bring insurance to underserved populations and break down barriers to insurance access.

In a continent where insurance penetration remains low, Turaco’s efforts are paving the way for a future where more people can benefit from the protection and financial stability that insurance offers. With its sights set on insuring one billion people, Turaco is playing a pivotal role in changing the insurance landscape in Africa and making insurance a reality for millions.

The company’s dedication to customer service and innovation is not only driving its growth but also transforming lives. By offering products that are affordable, accessible, and designed with the needs of African consumers in mind, Turaco is proving that inclusive insurance is not just a vision but a tangible and achievable goal.

As the insurtech sector continues to expand in Africa, Turaco is well-positioned to remain at the forefront, leading the charge toward a more inclusive and insured future for all.