Former CEO of web hosting company WhoGoHost, Toba Obaniyi has been appointed by Turaco as its pioneer general manager in Nigeria.
Toba, who led WhoGoHost for about a decade, joins the insurtech startup as its general manager and will be leading the company into its next phase as it looks to deepen its reach within the Nigerian market.
Backed by about sixteen notable investors, including Novaster Ventures, Global Partnerships, and Enza Capital, the east African startup launched in Nigeria in 2022 through a corporate partnership with AXA Mansard and its Nigerian subsidiary Turaco Inclusive Ltd. Kenya, Uganda, Nigeria, and Ghana.
Turaco provides simplified insurance and credit solutions through mobile technology to solve healthcare needs. Its insurance products allow customers to get healthcare at affordable monthly premiums. This helps customers manage the risks in their everyday lives. Turaco has simplified insurance products and also provides on-demand health loans, allowing customers to get healthcare at affordable monthly premiums.
“We are thrilled to welcome Toba Obaniyi to Turaco,” said Ted Pantone, co-founder & CEO of Turaco. “With 80% of Nigeria still uninsured but high levels of fintech penetration, Nigeria provides an ideal opportunity for Turaco’s B2B2C, tech-enabled model. In the first year of our Nigeria operations, we saw a high demand for insurtech solutions from both distribution partners and customers. Toba’s leadership and expertise in the region will enable us to meet that demand through additional distribution partnerships and scale our Nigerian sales, ultimately enabling us to insure more lives.”
Speaking on the move, Toba shared, “I am excited to share that I joined Turaco as their first general manager in Nigeria!
Having spent the last decade as CEO of WhoGoHost, I am excited to embark on a new journey and embrace new challenges. I am looking forward to contributing towards Turaco’s vision of insuring the next billion people through disruptive innovation and technology.
Turaco is Africa’s leading insurtech, having insured over 1,000,000 lives since it began operations in 2019. It utilises a B2B2C model to embed white-labeled and affordable products into the core product offerings of distribution partners such as Paga Group Ltd, PayForce by FairMoney, and M-KOPA.
Working closely with our Nigerian team and partners, we will deliver the Turaco approach of using innovation and customer-centricity to disrupt the insurance industry and provide this vital risk-mitigating tool to millions of families across the country” he concluded.
Turaco’s unique offering represents a fresh approach to insurance in the country. Through partnerships with leading insurance underwriters like AXA, the startup offers medical insurance for as little as 500 Naira ($1.20) per month. It partners with existing fintech companies and service providers to sell and distribute bundled service to users. The company is present in Kenya, Uganda, Nigeria, and Ghana.
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