4Surity provides automated insurance risk monitoring to the financial sector - the first of its kind on the continent. The company boasts a unique business model that harnesses the latest technology to address collateral risk faced by customers.
There is currently no automated system that allows financial institutions to monitor when a customer cancels their insurance policy on financed assets. 4Surity’s mission is to strengthen the financial sector and reduce billions of rands worth of exposure on behalf of banks and insurance houses.
4Surity was one of the finalists in the Alpha-code program in 2017. Currently, the company is working on a proof-of-concept with one of the major South African banks, as well as a content production company.
The MultiChoice Innovation Fund has played a crucial role in providing seed-capital for the business. The money will be used to build the technology platform, and will provided a working capital runway.