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South Africa based insurtech company for cars, homes, and valuables, raised $17m in Series B funding led by the International Finance Corporation.
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In contrast to the traditional model where insurers’ profits depend on how much they pay in claims, Naked charges a fixed percentage of customers’ premiums. In years when claims are lower than expected, the surplus goes to communities and good causes chosen by customers.”
https://techcrunch.com/2023/02/15/ifc-leads-17m-investment-in-south-african-insurtech-naked/
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