Naked Insurance

About Naked Insurance

Provides fully digital insurance for cars, homes, and individual items through a mobile app, eliminating the need for phone calls or paperwork. By using AI-driven quoting and claims processing, it reduces operational costs, offering lower premiums and faster payouts while donating surplus funds to customer-chosen causes.

```xml <problem> Traditional insurance processes often involve lengthy phone calls, extensive paperwork, and delayed claim settlements, leading to customer frustration and increased operational costs for insurers. This creates a need for more efficient, transparent, and customer-centric insurance solutions. </problem> <solution> Naked provides a fully digital insurance platform accessible through a mobile app and website, streamlining the entire insurance lifecycle from quoting to claims processing. By leveraging AI-driven chatbots for instant quotes and claims assistance, Naked eliminates the need for call centers and manual paperwork. The platform offers comprehensive insurance coverage for cars, homes, and individual items, providing users with control over their policies and transparent policy summaries. A unique feature allows users to pause the accident portion of their car cover when not driving, reducing premiums, while still maintaining coverage for theft and natural disasters. </solution> <features> - AI-powered chatbot (Rose) for instant insurance quotes in under 90 seconds - Digital claims processing via chatbot (Jade) with 24/7 emergency assistance - Mobile app for policy management, adjustments, and claims submissions - Option to pause accident cover on car insurance, reducing premiums by up to 50% - Comprehensive coverage for car, home (building and contents), and single items - Referral program offering up to R1,000 for successful referrals - Real-time claim status tracking and to-do list management within the app - Monthly statements and ability to change payment dates via the app - Push notifications for policy updates and claim-related activities </features> <target_audience> Naked primarily targets tech-savvy individuals seeking convenient, transparent, and cost-effective insurance solutions for their cars, homes, and personal belongings. </target_audience> <revenue_model> Naked generates revenue through premiums collected on car, home, and single-item insurance policies, taking a flat fee and allocating the remaining premium to a communal pot for claims. Surplus funds, when claims are lower than expected, are donated to customer-chosen causes. </revenue_model> ```

What does Naked Insurance do?

Provides fully digital insurance for cars, homes, and individual items through a mobile app, eliminating the need for phone calls or paperwork. By using AI-driven quoting and claims processing, it reduces operational costs, offering lower premiums and faster payouts while donating surplus funds to customer-chosen causes.

Where is Naked Insurance located?

Naked Insurance is based in Johannesburg, South Africa.

When was Naked Insurance founded?

Naked Insurance was founded in 2016.

How much funding has Naked Insurance raised?

Naked Insurance has raised 69860000.

Location
Johannesburg, South Africa
Founded
2016
Funding
69860000
0

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Naked Insurance

⚠️ AI-generated overview based on web search data – may contain errors, please verify information yourself! You can claim this account with your email domain to make edits.

Executive Summary

Provides fully digital insurance for cars, homes, and individual items through a mobile app, eliminating the need for phone calls or paperwork. By using AI-driven quoting and claims processing, it reduces operational costs, offering lower premiums and faster payouts while donating surplus funds to customer-chosen causes.

naked.insureLinkedIn Profile
Founded 2016 – Johannesburg, South Africa

Funding

$

Estimated Funding

$50M+

Team

No team information available.

Company Description

Problem

Traditional insurance processes often involve lengthy phone calls, extensive paperwork, and delayed claim settlements, leading to customer frustration and increased operational costs for insurers. This creates a need for more efficient, transparent, and customer-centric insurance solutions.

Solution

Naked provides a fully digital insurance platform accessible through a mobile app and website, streamlining the entire insurance lifecycle from quoting to claims processing. By leveraging AI-driven chatbots for instant quotes and claims assistance, Naked eliminates the need for call centers and manual paperwork. The platform offers comprehensive insurance coverage for cars, homes, and individual items, providing users with control over their policies and transparent policy summaries. A unique feature allows users to pause the accident portion of their car cover when not driving, reducing premiums, while still maintaining coverage for theft and natural disasters.

Features

AI-powered chatbot (Rose) for instant insurance quotes in under 90 seconds

Digital claims processing via chatbot (Jade) with 24/7 emergency assistance

Mobile app for policy management, adjustments, and claims submissions

Option to pause accident cover on car insurance, reducing premiums by up to 50%

Comprehensive coverage for car, home (building and contents), and single items

Referral program offering up to R1,000 for successful referrals

Real-time claim status tracking and to-do list management within the app

Monthly statements and ability to change payment dates via the app

Push notifications for policy updates and claim-related activities

Target Audience

Naked primarily targets tech-savvy individuals seeking convenient, transparent, and cost-effective insurance solutions for their cars, homes, and personal belongings.

Revenue Model

Naked generates revenue through premiums collected on car, home, and single-item insurance policies, taking a flat fee and allocating the remaining premium to a communal pot for claims. Surplus funds, when claims are lower than expected, are donated to customer-chosen causes.

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