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Alex Thomson, co-founder of Naked Insurance. Picture: SUPPLIED
Alex Thomson, co-founder of Naked Insurance. Picture: SUPPLIED

Naked Insurance’s growth strategy and technology investment in SA is the focus of this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by Alex Thomson, co-founder at Naked Insurance. 

Earlier in January, the SA-based insurance technology (insurtech) platform, which uses artificial intelligence (AI) to offer cover for cars, homes and other valuables, said it raised $38m (about R706m) in a Series B extension funding round.

Thomson outlines how the new funds will aid in the company’s current growth strategy. 

Co-founded by actuaries Thomson, Sumarie Greybe and Ernest North, Naked uses AI and automation that enables customers do all of their insurance business online — including claims management — a far cry from traditional phone and form-based business.

Join the discussion: 

The firm’s automated operations means fewer staff and the lower costs that are passed on to customers.

Thomson explains how his firm has used this position to stand out in the market and get ahead. 

As a long time player in AI, Thomson also outlines how the landscape has changed with the growth in large language models like ChatGPT, Google’s Gemini and now China’s DeepSeek.

Through the discussion, the tech founder highlights Naked’s business model; differentiation in the market; plans for the company’s recently raised funds; evolution of AI; and geographic strategy.

Regarding possible geographic expansion, he says the company is focused on first conquering the SA market before venturing outwards.

Business Day Spotlight is a MultimediaLIVE Production. 

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