Groupon SA founder branches into insurance
Silicon Cape chairman and e-commerce entrepreneur Daniel Guasco says companies cannot continue offering pen-and-paper insurance.
Founder of discount voucher business Groupon SA Daniel Guasco is planning to shake up the insurance space after securing funding from a listed US hedge fund. The Silicon Cape chairman who founded e-commerce site Twangoo in 2010 and later sold it to Groupon, has started an insurance-selling platform where he is challenging insurers to stop paper-based processes and do things digitally because of changing consumer behaviour. He was speaking at the Financial Indaba on Thursday. His insurance platform, Click2Sure, has registered several retailers and telecom companies who want to sell insurance to their customer base. They approach retailers and other types of businesses that have big customer bases and give them a platform to offer insurance to their clients. When customers buy big-ticket items, they are then given an option to add insurance. Among the big companies already offering insurance through Click2Sure platform are Takealot, weFix and Uber. But Guasco said his company is also...
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