AlphaCode invests in SA insurtech business Guidepost

Rand Merchant Investments, through its fintech investment arm, AlphaCode, has taken a 25.1% stake in Guidepost, a high-touch diabetes health- and insurtech business that is readying for international expansion.

Guidepost is a technology platform that enables highly personalised, data-driven diabetes management at scale.

It achieves radical clinical improvements in just four to six months of working with patients and their data, Alphacode said. Guidepost has achieved significant clinical, customer and business model milestones during its six years of operation with a 45% reduction in diabetes complications risk proven across more than 8,000 patients, it said by way of rationale for its investment.

Guidepost allows insurers to significantly better manage their diabetes risk, Alphacode continued. People with diabetes are extremely expensive for both medical and life insurance companies when not well managed and Guidepost helps solve this business problem whilst supporting patients to achieve substantially better health.

Dominique Collett, senior investment executive at Rand Merchant Investments said: “We believe that Guidepost’s growth will come from applying its healthtech capabilities to the insurance industry. Guidepost has already started programs at insurers where they are underwriting diabetic lives and managing these patients on the program in collaboration with Swiss Re. There is also the opportunity for the skilled leadership team to roll out this methodology for other diseases and chronic conditions.”

The funding will be used to bring in key executive skills, further develop Guidepost’s differentiated clinical technology and scale the business locally and globally with insurance partners.

Read: 3 South African fintech startups just scored R23 million in loans – including one that invests in cows

Must Read

Partner Content

Show comments

Trending Now

Follow Us

AlphaCode invests in SA insurtech business Guidepost