They simply need to download the app, provide basic information about their car and driving history, and choose the level of coverage they require (daily, weekly, monthly, quarterly or annual) and they can start enjoying the benefits of an ethical car insurance product.
Leveraging ETAPs gamechanging technology that allowsdrivers to buy insurance in 90 seconds, complete claims in 3 minutes or less and get rewarded for good driving and avoiding accidents, users can now enjoy an added layer of ethical insurance on top of what is already the fastest claims process on the market.
ETAP Takaful is open to Muslim users that are looking for insurance products that align with their religious beliefs and nonMuslim users who want to benefit from the value that Takaful offers.
According toIbraheem Babalola, CEO and Founder of ETAP, To drive insurance penetration in Africa, where less than 3 per cent of the population own any kind of insurance, we need to design new products that meet the diverse needs of people across the continent.
We have built one of the most exciting insurance apps in the world and ETAP Takaful will make it easier for more people to access the many benefits that come with our app and enable more enjoyable driving experiences.
ETAPs business model is based on the concept of Shared Value Insurance, which focuses on incentivising people with rewards to reduce their insurance risk by adopting good behaviour.
Policyholders can also receive their surplus via cashback or a discount on renewals.
The global takaful insurance market is projected to reach 97.17 billion by 2030 and ETAP is the first African insurtech to enable the option on the continent.
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