Turaco, Africa’s leading insurance technology company, on Friday October 11, 2024 announced a significant milestone: it has surpassed 2.5 million customers across four markets.

In six years, Turaco has experienced remarkable growth, adding 1.5 million customers in the past year alone.

This impressive growth highlights the increasing demand for accessible and affordable insurance across Africa.

Turaco attributes this growth to a core focus on its end customers, most of whom are purchasing their first ever insurance through Turaco.

The company is in the “claim paying business,” as it seeks to provide real value to its users across Africa.

Turaco’s customers report a noticeable improvement in quality of life due to reduced stress during medical emergencies, timely access to medical care, and the ability to pay off medical bills from their claim payouts.

“Reaching 2.5 million customers in such a short time confirms that our vision of insuring 1 billion people is attainable,” said Ted Patone, CEO and Co-Founder of Turaco.

“This milestone is not just a number; it represents real people whose lives have been positively impacted by our services.

“We are inspired every day to ensure our customers have the products they need to better protect themselves and their families,” he added.

One satisfied customer, Boniface, who benefited from the embedded insurance with his phone purchase from Turaco’s partner M-KOPA, shared, “Since my insurance payment came in cash, I could repay the money I had borrowed when I was admitted and I also had enough for my family’s upkeep!”

This milestone comes off the back of Cedrick Todwell joining Turaco as Director of Business Development to accelerate growth and expansion with new partnerships across Africa.

Founded in 2019, Turaco is present in Kenya, Uganda, Ghana and Nigeria.

Turaco is partnering with leading mobile network operators (MNOs), technology companies, and financing institutions to distribute tailored insurance products for their customers.