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.
Funding
$69.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
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.
Target Audience
Naked primarily targets tech-savvy individuals seeking convenient, transparent, and cost-effective insurance solutions for their cars, homes, and personal belongings.
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