Turaco Inclusive Limited, the prominent insurtech in Africa, has announced the appointment of Toba Obaniyi as its General Manager in Nigeria.
In his new role, Obaniyi will spearhead business growth and the establishment of strategic partnerships, focusing on the distribution of Turaco’s embedded insurance solutions. This development marks a pivotal moment for the insurtech as it aggressively expands its operations in Nigeria.
With over a decade of experience in enterprise sales of tech solutions, Toba Obaniyi brings valuable expertise to the position. Renowned as the driving force behind WhoGoHost, Nigeria’s leading cloud solutions provider, Obaniyi played a pivotal role in transforming the company from a one-man operation into the largest web-hosting company in West Africa during his tenure as CEO.
Ted Pantone, Co-founder & CEO of Turaco, expressed enthusiasm about Obaniyi’s appointment, highlighting the significant potential in Nigeria’s untapped insurance market.
Pantone stated, “With 80% of Nigeria still uninsured, but high levels of fintech penetration, Nigeria provides an ideal opportunity for Turaco’s B2B2C, tech-enabled model.”
He emphasized the need to leverage Obaniyi’s leadership and regional expertise to meet the growing demand for insurtech solutions and scale up sales operations in Nigeria.
In response to his appointment, Toba Obaniyi expressed his honor in leading Turaco in Nigeria and contributing to the company’s ambitious vision of insuring one billion lives.
Recognizing Turaco’s position as a frontrunner in the African insurtech space, Obaniyi outlined his commitment to establishing additional partnerships in Nigeria with leading tech-enabled companies. He emphasized the importance of collaboration with the Nigerian team and partners to disrupt the insurance industry through innovation and customer-centricity.
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Partnership
As a distributor and key customer interface in the insurtech landscape, Turaco has already insured over 1.5 million lives across Africa. Targeting underserved customers and low-income earners, the company partners with top tech-enabled companies in emerging markets.
These partnerships, including collaborations with trusted brands such as Paga, Payforce, MAX, and M-KOPA, involve embedding Turaco’s insurance service as a white-labeled offering bundled with a partner’s core product or service.
Turaco’s products are priced at approximately $1 per month, with transparent terms and conditions and a fully digitized claims process allowing claimants to file via WhatsApp or phone, ensuring payouts within three days through mobile money. The insurtech’s robust API integration facilitates seamless collaboration with external partners, enabling them to integrate insurance into their products and services efficiently and at no additional risk or cost.
Toba Obaniyi, known for his passion for digital solutions, served as the Vice President of the Nigeria Internet Registration Association (NiRA) Executive Board and acted as the chair of the Nigeria Internet Governance Forum Multistakeholder Advisory Group (NIGF-MAG). His advocacy for internet accessibility in underserved areas positions him as a valuable asset in Nigeria’s digital landscape.
Turaco Operations
Founded in 2019, Turaco operates as a Pan-African insurtech, providing simple and affordable health and life insurance for the underserved mass market. Present in Kenya, Uganda, Nigeria, and Ghana, Turaco collaborates with mobile network operators, technology-enabled companies, and financial institutions to distribute insurance products.
With a vision to insure one billion lives, Turaco has already insured over 1.5 million lives and facilitated more than 20,000 claims, processing payouts in less than three business days.
