DURBAN – FinTechs are challenger brands that use technologies to either change the way traditional financial services are offered, or to offer completely new products and services.
“There has been a lot of FinTech activity within the industry for a while, and consumers are increasingly being offered a wide range of innovative products – as well as new ways of thinking about the money they spend on insurance,” said Mutoda Mahamba, Chief Executive and founder of Solvency, an innovative new insurance product of GENRIC Insurance Company Limited.
Mahamba explained, “Sometimes FinTech brands are consumer-facing, but often they are buried within the financial services value chain. While consumers may not have noticed their presence, they may already be using and enjoying FinTech services”.
The Solvency solution offers crucial short-term insurance cover, combined with the ability to save and invest…