mTek was co-founded by Bente Krogmann and Christopher Osore in 2019, to transform how people interact in the insurance sector through technology.
mTek uses paperless transactions to streamline and improve processes. The aim is to increase penetration in Africa and offer a platform for accessing insurance products.
It allows you to purchase insurance directly from the insurer. Users can also use their devices to compare insurance policies and submit claims online.
The new processes would involve artificial intelligence (AI) and machine learning (ML) to increase efficiency in the insurance value chain, as well as improve customer experience.
Following the recent funding, Krogmann, the Chief Executive Officer (CEO), emphasizes that mTek plans to build Africa’s leading platform as a service for the insurance ecosystem.
Looking forward, the Kenyan-based insurtech said it would strengthen partnerships with entries, including underwriters, banks, regulatory bodies, intermediaries, enterprises, and stakeholders in the industry.
Specifically, Krogmann said, “We are now looking forward to further strengthening our strategic partnerships with underwriters, regulatory bodies, banks, intermediaries, enterprises and other stakeholders in the industry to foster innovation, expand access to insurance, and create value for end-users and the wider insurance ecosystem.”
Despite the low adoption of insurance in Africa, mTek is pushing to bring a shift via its proffered solutions. Verod-Kepple Africa Ventures Partner, Ory Okolloh, believes that mTek can resolve the industry’s penetration gaps.
