South African insurtech start - up Fo - Sho plans to expand its short - term , peer - to - peer insurance product to other emerging markets after it reaches a " tipping point " domestically . The product combines with social underwriting to reduce short - term insurance costs , and is reliant on policyholders forming groups with similar risk profiles , creating risk finance networks . startup Fo-sho has identified a need for its product in many other emerging economies, and plans to expand once it has reached a “tipping point” back home. The product targets the 20 % of adults in South Africa needing insurance , without being able to afford it .
South African insurtech start - up Fo - Sho plans to expand its short - term , peer - to - peer insurance product to other emerging markets after it reaches a " tipping point " domestically . The product combines with social underwriting to reduce short - term insurance costs , and is reliant on policyholders forming groups with similar risk profiles , creating risk finance networks . The product targets the 20 % of adults in South Africa needing insurance , without being able to afford it .