Bold Bet on Life Insurance in Ghana

In this episode of IBS Podcast, we sit down with Festus William Amoyaw, Co-Founder of FigTech, a rising InsurTech startup out of Ghana that’s taking a bold approach by focusing on life insurance—a space often overlooked.

FigTech isn’t following the crowd. Instead of targeting the more popular health or motor segments, they’ve built a platform aimed at improving access to life insurance and other financial services products like Pension and Investment. 

In this chat, we explored:

• Why they chose life insurance and what makes it a powerful yet underserved market
• How they started and the challenges of partnering with traditional insurers
• The funding hurdles faced as a young startup in a niche space
• 4-year wait to get the National Insurance Commission (NIC) of Ghana's approval
• Their Commitment to closing the protection gap in Ghana and beyond

This conversation offers real insight into the grit, vision, and strategic thinking required to innovate in underserved markets like Ghana. It does also paint vivid picture of opportunity that exist for #InsurTechinAfrica

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