Greenlight Re invests in South African insurtech Click2Sure

Cayman Islands-based specialist property/casualty reinsurer Greenlight Capital Re has invested in digital insurance platform Click2Sure.

South Africa-based Click2Sure has developed a digital platform for distributing, managing and purchasing insurance at the point of sale. The startup was launched in 2017 by Daniel Guasco and Jacques Van Niekerk. Guasco previously led Groupon South Africa as CEO and prior to that he was the founding director of online group buying website Twangoo. Van Niekerk has served as chief technology officer to several e-commerce companies in South Africa including Takealot, Mr. Delivery, and Prodigy Finance.

Greenlight Re chief executive officer Simon Burton said: “We are pleased to be partnering with Click2sure and support Daniel and Jacques as they develop new ways for companies to engage and provide value to their customers. The Click2sure platform enables a radical transformation of the customer experience and a cost-effective way to deliver insurance products to under-served marketplaces.”

Click2Sure co-founders commented: "We are delighted by the financial investment, but more so by the endorsement of our unique full-stack, multiple digital platform capability and potential. This partnership has brought global recognition to a South African business and we welcome the insights that Greenlight Re Innovations will introduce to the platform."

The investment was made through the reinsurer’s insurtech unit Greenlight Re Innovations, which was launched in March 2018 to seek technology and innovation opportunities relating to the reinsurance and insurance markets. Earlier in September, the company unveiled a strategic investment in Hong Kong-based blockchain business Galileo Platforms. Greenlight Re also invested in a Texas-based healthcare third-party administrator (TPA) Sana Benefits.

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