Unlocking Africa
Terser Adamu, who is an Africa Business Strategist, International Trade Adviser, and Director at ETK Group, hosts the award-nominated Unlocking Africa Podcast. During each episode he shares his thoughts on how to unlock Africa’s economic potential in the 21st century. This is delivered through engaging and thought-provoking discussions with innovators, entrepreneurs, investors, policymakers, and business leaders who are unlocking Africa’s economic potential. Whether you're a business leader, an aspiring entrepreneur, have a comfortable side hustle, or want to take your business to the next level, each episode is jam-packed with information and insight that will enable you to take immediate action and implement key strategies to successfully launch and grow your business in Africa.
Unlocking Africa
Closing Africa’s Insurance Gap: Using an Agent-Driven Model to Transform How Insurance Is Sold in Africa With Jihan Abass
Episode 150 with Jihan Abass, who is CEO and Founder of Lami, which is an insurance as a service platform that digitises the entire insurance process and allows users to create and distribute digital insurance products in record time. As one of the first female African founders to secure $5.5 million in funding for her startup, Jihan's journey is nothing short of inspiring.
Lami addresses Africa's significant insurance gap by digitising the entire process and empowering agents to sell products like SME WIBA, personal accident, and motor insurance. After a strategic pivot to an agent-driven model, Lami has doubled its revenue and now generates over $300,000 monthly.
What We Discuss With Jihan
- What challenges in the African insurance market inspired the launch of Lami, and how Jihan aimed to address them.
- What led to Lami's pivot to an agent-driven model, and how this approach reshaped the company's growth and impact.
- How Lami's platform works to close the insurance gap in Africa, particularly in reaching underserved and remote communities.
- The challenges and lessons that came with raising $5.5 million as one of the first female African founders in the insurtech space.
- How Lami navigates the challenges and risks of operating in an emerging market with a developing insurance industry.
Did you miss my previous episode where I discuss How Dodai Is Building Affordable, High-Speed Electric Motorcycles in Ethiopia? Make sure to check it out!
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Connect with Terser on LinkedIn at Terser Adamu, and Twitter (X) @TerserAdamu
Connect with Jihan on LinkedIn at Jihan Abass, and Twitter (X) @LamiInsurtech
Do you want to do business in Africa? Explore the vast business opportunities in African markets and increase your success with ETK Group.
Connect with us at www.etkgroup.co.uk or reach out via email at info@etkgroup.co.uk
