Alpha Direct addresses the needs of Africa’s vast uninsured or underinsured population, particularly the young, tech-savvy demographic who is looking for user-friendly insurance options. This includes both urban dwellers who are familiar with digital solutions and rural residents who were traditionally underserved by conventional insurance. 

The Alpha Direct team conducted over 500 customer empathy interviews prior to launching their products in 2019. They met with their target customer in retail outlets of Choppies supermarkets in Botswana and Zambia, collecting data through structured and unstructured questionnaires with empathy interviews playing a key role. Their product mission is simpler, easier, accessible and affordable. 

Leveraging a wide retail footprint, Alpha Direct’s ‘tangible’ insurance-in-a-box solutions are priced at under $5 and distributed through blue-chip African retailer networks. They cater to an underserved market, providing the uninsured with accessible and affordable insurance products that meet their needs. The company is already generating revenue through insurance product sales in Botswana and South Africa and is expanding into Zimbabwe, as well as developing several new distribution partnership opportunities to expand their distribution footprint. 

They have on boarded over 60 000 customers and have more than 30 000 active paying customers per month and are growing by close to 100% per year. Their voluntary cancellation rate is below 1% with more than 60% of premiums collected paid out in claims each year to benefit consumers and create value in the markets they serve. The company has gross revenues in excess of US$7 million per year and is cash-flow positive and profitable. Alpha Direct was one of the first businesses in Africa to process recurring payments on mobile money through its partnership with Orange Money.