South African insurtech Fo-Sho has launched with the goal of providing short-term insurance policies for lower-income portions of the population. The firm says it makes use of artificial intelligence, machine learning and data analysis in underwriting its risks. Fo-Sho has reportedly written over ZAR10m ($729,000) in premiums during a testing period. Customers will be able to register and apply for coverage in this Thursday, the firm says.
South African insurtech Fo-Sho has launched with the goal of providing short-term insurance policies for lower-income portions of the population. The firm says it makes use of artificial intelligence, machine learning and data analysis in underwriting its risks. Fo-Sho has reportedly written over ZAR10m ($729,000) in premiums during a testing period. Customers will be able to register and apply for coverage in as little as three minutes, the firm says.