Oze uses Curacel Grow to insure 100% of their loan transactions
Oze is a one-stop business app that covers a wide range of services including financial records, payments and loans. Oze has partnered with Curacel to secure credit life loan coverage for all businesses that take loans with Oze. Oze is based in Ghana and Nigeria and specifically caters to SMBs.
Company
Oze
Industry
Fintech
Location
Nigeria
Size
11-50
Website
getoze.com

The Problem

For Credit companies, offering loans as a service can be risky. This is mainly because a debtor’s ability to pay back can be affected by severe illness or even worse, death. This was a very significant concern for Oze. Oze sought out insurance to protect their business from drawbacks caused by non-performing loans. They also needed a solution to help them acquire credit life insurance at scale to cover multiple loans at the time of purchase.

Another concern was acquiring insurance at the best rates without having to get on multiple calls to negotiate and compare pricing.  They needed a broker to work with insurance companies to deliver affordable credit life insurance. 

The Solution

With Curacel Grow, Oze has been able to get Credit Life insurance for loan applicants in a fraction of the time it takes to negotiate with an insurance company on their own. Oze can now purchase policies on the Curacel dashboard as needed for as many of their customers that apply for loans.

Making claims are also not a hassle- Oze can now make instant claims on the Curacel dashboard whenever severe illness or death affects a debtor’s ability to pay their debts- with no paperwork. 

Oze has also been able to secure Credit life insurance at the best rates. Curacel Grow stepped in as a broker to ensure that securing Credit life insurance for Oze’s customers was seamless and affordable

The Results

Working with Curacel Grow has positively impacted the insurance process for Oze. Oze has been able to save the time and manpower they would normally expend on securing insurance and can now insure each loan transaction in minutes.

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