Oze uses Curacel Grow to insure 100% of their loan transactions

Topship is a Global shipping platform for African businesses that makes it easy for African businesses to export and import goods across the World. In 2022, Topship received over $2.5m in funding from YC and Flexport and currently helps over 1,500 merchants to move cargo and parcels from Nigeria to more than 150 countries. Over the past year, Topship has used Curacel Grow to process over a hundred policies.

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.

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.

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.

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.

Company
Oze
Industry
Fintech
Location
Nigeria
Size
11-50

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