Words: Denise Mhlanga | Images: Supplied
Co-founded by experienced actuaries Sumarie Greybe, Alex Thomson and Ernest North, Naked is a new generation insurtech business that runs predominantly on artificial intelligence technology, which is aimed at transforming insurance customer experience. Ernest tells us more.
How did your business start?
Established on 10 April this year, Naked was founded by a group of friends who have been working in insurance for many years. We’ve built a team of 10 developers, designers and data scientists, and policies are underwritten by Hollard Insurance. The Naked app allows customers to buy, change or claim any time. For example, the Naked CoverPause, a world-first for car insurance, enables customers to pause their accident cover if the car won’t be used for a day or more, thus reducing the premium for that time.
Why did you choose this area to set up office?
It’s close to the office of one of our investor groups and central to Joburg business hubs.
How did you find your premises?
One of our investors, Yellowwoods Private Equity, owns The Pines and we were fortunate enough that they agreed for us to use this space.
Why are they ideally suited to your business?
We needed a space that will enable us to be creative and think out of the box and it is also conveniently located.
Who are your neighbours?
Our neighbour is Hollard Insurance.
What are the rental/sales prices like in this area?
How many people visit your business each day?
We’re an exclusively digital business, so we don’t have clients visiting us.
Do you have any expansion plans?
Physically not, and we will focus on car insurance for now so as to maintain low premiums for our clients.
Do you operate online as well?
What’s your most popular service?
The Naked app which allows customers to change their cover instantly at any time.
For more information on Naked Insurance, phone 0860 995 125 or visit the website.