We are very pleased to announce that insurtech, Turaco has successfully integrated with the Musoni System. This is part of Musoni’s Platform Partners strategy, where we integrate with complementary solutions in the industry to bring added value to organisations using Musoni. Turaco is an insurtech that partners with local companies and mobile lending organisations to provide simple and affordable insurance policies to underserved and low-income customers.
Since 2019, Turaco has insured over 500,000 people and is committed to expanding access to microinsurance through tech-enabled solutions.
This integration between the Musoni System and Turaco will increase the borrowing power of customers while reducing the risk for the financial institution. Musoni’s focus has been to be the preferred digitalisation partner for Microfinance Institutions (MFIs) and our partnership with Turaco comes as a value add to the customers already using our system to extend loan limits to their customers.
Digital transformation continues to improve the way people transact, borrow, save, and insure and with this integration already in place, the MFIs already using the Musoni platform now have a safety net tailored to protect the loans they disburse. This also creates an opportunity for the customers to access more insured loans quickly and within minutes while Musoni partners can add microinsurance with a click of the button.
“We are very excited to partner with Musoni. Their experience in creating digitalisation tools that serve microfinance institutions and the unbanked population provides a great opportunity to layer on insurance through Turaco’s robust API-integration technology. I am confident that this partnership can help us drive towards the shared vision of Turaco and Musoni: to provide financial tools to underserved customers,” said Turaco’s CEO, Ted Pantone.
Speaking about the integration, Sander van der Heyden, Musoni’s CEO, said: “We are very happy with this integration with Turaco as supporting digital transformation of financial services in emerging markets is a part of who we are. With the insurance option in place, our MFIs can quickly reimagine their processes, reduce lending risk, improve efficiency and offer a better experience to their customers.”
About Turaco: Turaco is a low-cost insurance provider designing and delivering simple, affordable insurance to unserved and underserved customers. Our mission is to free people from the fear of financial shocks by acting as a safety net for our customers in their greatest time of need. Turaco works through business partnerships to offer tailor made products that add real value to people’s lives. Turaco currently operates in Kenya, Uganda, and Nigeria, with even more plans for expansion in the near future.
Visit Turaco at www.turaco.insure
About Musoni: Musoni System is the leading digitalisation partner for microfinance institutions around the world. We help organisations improve their efficiency and extend their outreach through a variety of fintech solutions. These include a cloud banking system, digital field application, mobile payments module, and client banking app. We have over a decade of experience and now support 70+ organisations in 24 different countries. We take pride in our hands-on and personalised approach, with local teams in the Netherlands, Kenya, and Myanmar.
Visit Musoni at https://musonisystem.com