Harlem Capital has led a $3.7 million seed extension for Kenyan insurtech Lami. The start-up has created an API that allows companies such as banks to distribute insurance products to their customers. Jihan Abass, CEO and Co-founder, said, “On the technology side we want to cater to the entire insurance ecosystem. So, it’s not only the digital platforms that want to sell insurance products, but also to help existing players be more efficient in their distribution of products, allowing them to play a role in increasing the insurance penetration level. This includes agents and brokers — we are looking into how we can empower them to sell more policies.” Gabby Cazeau, Principal at Harlem Capital said, “We believe the next wave of fintech will embed financial products and services like insurance into a customer’s purchase experience. Lami’s approach to serving people through strategic partners in e-commerce and finance is the best way to build trust with users and deliver insurance in a seamless, accessible way to Africans across the continent.”

Source: Yahoo Finance

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