Technology is a massively positive disruptor, says Click2Sure founder Daniel Guasco

"It is enabling different types of distribution, through to new types of economies, such as the shared economy or the ecommerce economy."

Digital insurance platform Click2Sure, founded by Daniel Guasco, will be exhibiting at this year’s Finance Indaba. We had a chat with Daniel to find out more about it.

What is Click2Sure and what do you offer?
“Click2Sure is a full stack digital insurance platform. We are able to digitally distribute insurance in innovative ways, enabling our partners to offer insurance to their customers. We can fully administrate the insurance offering via the platform and provide live reporting of what’s happening regarding all aspects of a customer from claims, premium payments, policy schedules and general details. It covers all aspects of insurance, such as brokering, sign up, collection of premiums, and management of claims. Just that this is all done digitally. We’ve got a number of mechanisms through which we integrate all of these. To make it practical, we have a restful API which can be integrated into an ecommerce website that enables that website to offer insurance at the point of sale. As such, we are able to embed our offering into apps and can activate policies via USSD. For example, if you are buying something in a consumer electronics retail store, and want to insure it immediately, you can do that. Likewise if you are purchasing something online, such as through Takealot. You can have it insured immediately after online checkout, as you will be presented with our offering during the checkout process.”

What would you say makes Click2Sure unique? 
“The fact that we have digitally enabled the distribution of insurance. This is typically done through a call centre or broker. We’ve taken away the need for that. Also, the integration and enablement of the digital distribution of insurance means we can both increase distribution and provide interesting new types of insurance that wouldn’t otherwise have been available.”

What value does your organisation offer to those in the finance profession?
“We are a solutions provider to numerous partners including traditional insurers, banks, retailers etc, and tick all the boxes in terms of compliance. One of the newer requirements from the Financial Services Board (FSB) pertains to the availability of customer data, and we do that because we are cloud based. We can offer significantly lower prices because we’ve got much lower operational costs, as we don’t need big administrative teams. We’ve also cut down on distribution costs because we don’t need a physical person to sell our products – it’s all digital.”

Please share your thoughts on the role of technology in an ever-changing business environment.
“Technology is having a massively positive effect in many different ways. It is enabling different types of distribution, through to new types of economies, such as the shared economy or the ecommerce economy. Without technology, you cannot service those opportunities. Also, digital offers better efficiency and cost reduction. It’s more with less.”

Please share some of your insights into the future of the finance profession and how you see this taking shape.
“There are a number of interesting trends, such as automation, big data, AI – all of which have a purpose that will radically change what people traditionally do. So, to a large degree, technological development will enable or replace what is currently a human process.”

Why did you decide to partner with the Finance Indaba, and what are your expectations from the Finance Indaba?
“It’s a great opportunity because we service the industry on two levels: either they provide us with insurance products that we distribute, or we want to meet more of those types of partners. We really look forward to meeting those people through this engagement.”

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