Marnus van Heerden is the co-founder of Pineapple, South Africa’s only peer-to-peer insurer.
The Johannesburg-based insurtech startup recently secured an R80 million investment through a Series A round of funding, having launched into the local market in mid-2018 with the goal of solving the trust issue in insurance.
Van Heerden says Pineapple is on a journey to improve the trust between the insurer and insured, by providing superior customer experience backed by cutting edge technology and an innovative model.
With Pineapple you can insure your car or your belongings in under 90 seconds via their App or website. The insurance policies are underwritten by Old Mutual Insure.
The company has already shown 200% growth in the first six months of this year, noting that customer insurance purchase behaviour is starting to shift online, accelerated by the onset of the Covid-19 pandemic, and resulting lockdowns.
In this episode of Business Talk, van Heerden says that the group launched its motor insurance product at the end of last year, and has seen “incredible take-up on that product”. He talks Michael Avery through the group’s plans for growth in the local market, where much of the recent funding will be allocated.
He also explains the group’s rewards strategy, and the group’s aim to attract customer loyalty and engagement.
The full interview is embedded below. You can find all the Business Talk with Michael Avery interviews here.