Insurtech start-up Granadilla has not only disrupted the traditional insurance model, it has put insurance in the customer’s hand. Since its launch in July 2018 by founder and CEO Jonathan Walker, the mobile app has attained 30 000 downloads across Android and iOS platforms. Proof that the demand for do-it-yourself, cost-effective, fast app-based insurance is on the rise.

Underwritten by Bryte Insurance, the insurtech has tipped the scales with a 454% increase in user numbers, 111% increase in insurance policies sold and an increase of 101.7% in gross written premium in the second quarter of 2019.

With little benchmark to compare market and consumer trends against, Granadilla consistently collates data and listens to customers to create products and deliver service that is relevant, lightning-fast and convenient.

The data shows that smartphone cover is most in demand, whilst travel cover and laptop cover are the fastest growing.  The product mix is shifting, with more customers adding additional products with each passing month. Most customers (82%) have one item insured, whilst 12 % have two policies. The most policies held by clients are seven.

Jonathan Walker, founder and CEO of Granadilla says, “Disrupting the way insurance works continues to be an exciting challenge and we’ve consistently enjoyed strong growth figures since the start of the year.”

Walker initially thought they’d attract a young, digital -first audience in their early twenties. However, Granadilla’s average customer is 32 years old, with the bulk of customers being between the ages of 28 and 43.

“Our female base is growing. Compared to 39% at the start of 2019, our base is now 44% Female and 56% Male. Just after launching, our base was male dominant and mostly iPhone users. That has changed significantly, with iOS app downloads accounting for less than 5% of our user base these days, which reflects Android’s popularity in South Africa,” says Walker.

Currently, the app provides single-asset and on-demand insurance cover for gadgets such as smartphones, laptops, tablets, smartwatches, cameras, jewellery, action cameras, headphones, gaming consoles, gaming rigs as well as travel cover.

Granadilla recently released a functionality for new customers to set a future policy start date, convenient for those who know when they’ll be getting their new smartphone, for example.

What else can customers expect? The insurtech will be releasing a functionality that allows users to take out cover for someone else, be it an employee, relative or friend.

Granadilla is transforming how consumers access insurance, as well as how they engage with it. See it for yourself and download the app from your app store. www.granadilla.ai

Listen here to Jonathan Walker on Classic FM’s View from the C Suite as he chats to Michael Avery about how and why he started Granadilla.

About AI Expo Africa 2019

Curated by AI Media Africa, AI Expo Africa 2019 is focusing on real world applications & trends driving the Artificial Intelligence (AI) & Data Science Economy in Africa.  AI Expo Africa is the largest Business focused AI Community conference and expo on the continent.  With 700+ delegates, 60+ speaker programme, 40+ exhibitor Expo Hall, allied to the unique Innovation Cafe showcasing the latest AI start-ups in the region, we deliver a truly integrated event experience.  Our speaking programme and workshops are aimed at CxOs, analysts and investors with the primary goal of educating business leaders about AI & Data Science applications solving Enterprise challenges TODAY as well as generating real business and learning opportunities for sponsors, speakers, buyers, suppliers & innovators alike.  We also have FREE student / young engineer workshops to foster grass roots job creation & skills development opportunities.  If you would like to join the event as a delegate or would like take up one of the exhibition, Innovation Cafe or speaking opportunities simply visit click on the links below. Learn more at www.aimediagroup.co.za

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