Aga Sure bags Orange Social Venture Prize
26 Nov 2023
Aga Sure, a local digital insurance agency, has bagged the 2023 Orange Social Venture Prize.
Receiving the P50 000 award on Wednesday in Gaborone, Aga Sure’s Head of Partnerships, Mr Aluta Modisaotsile said the company targeted the informal sector and low income population that their underwriter Hollard could not reach.
Mr Modisaotsile said since most people in Botswana had a cell phone, they decided to use the SMS and SSD systems to interactively communicate with their clients in languages they understand, such as Setswana, to give them financial education.
He explained that as their customers did not earn a constant salary, the company was flexible and it set up an application that could help clients to have a monthly payment plan once they understood insurance offering and products.
Also, he said they covered micro products for the low income population such as protection of their goods, their low cost phones and the informal sector.
Mr Modisaotsile stated that part of their system was anti-fraud and was intelligent enough to recognize anomalies.
He said winning the P50 000 was a welcome shot in the arm as the company was upgrading its system as it needed to evolve daily, to send quotations and respond to customer queries.
Mr Modisaotsile pointed out that though the solution was developed for Batswana, Aga Sure would leverage on its relationship with Orange, which has a large footprint across Africa, to take the product into the continent.
He said they envisaged to be in 10 African countries in the next five years and offering other financial services other than insurance to the same target group.
Aga Sure Business Partner and Chief Technical Officer, Mr Milton Johane said the system was Artificial Intelligent (AI) powered.
Orange Botswana CEO, Ms Nene Maiga said for the past 12 years, the company had financed over 36 start-ups through the Orange Social Venture Prize.
Ms Maiga encouraged local innovators not to be discouraged by the small size of the Botswana market, as they could grow their companies into the rest of the continent.
She expressed hope that in future, there would be multinational tech companies that Orange helped to grow in Botswana.
Ipachi Mobile, a product of Mr Shine Monyatsi, was the runner up, banking P20 000 while the third place went to Finating App by Ms Tumisang Swabi, who also banked P20 000. ENDS
Source : BOPA
Author : Gontle Merafhe
Location : GABORONE
Event : Orange Social Venture awards
Date : 26 Nov 2023