Naked Insurance

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Naked Insurance

Naked is the new way to insure your stuff - South Africa’s first AI-native insurance provider offering comprehensive cover for your car, home, contents and single items.

Naked offers a fully digital, artificial intelligence (AI)-driven platform that gives users a faster, fairer and more flexible insurance experience. It’s fully automated systems – free from legacy technology and infrastructure – give customers unprecedented control over their insurance and result in significant premium savings. The business is called “Naked” because it brings new levels of transparency to insurance – no hidden fees, no hidden agendas.

The goal is to change insurance for the better by providing instant, honest insurance at game-changing prices. From quoting to claiming to generating a proof of insurance letter, the Naked app empowers users to control their insurance policy without needing to speak to a call centre. Users can get a final insurance quote in 90 seconds and sign up for cover in less than three minutes on the app, guided by the friendly chatbot, Rose. Because our quoting system is completely automated, the price we offer you when you join is the best and only price. Our customers do not need to phone and negotiate to get a fair deal, even after they have been with us for three or more years.

With the CoverPause feature, users can pause their accident cover with one click if their car won’t be used for a day or more – instantly reducing the premium by about 50% for that time. Users still remained covered for theft, fire and Mother Nature while their accident cover is on pause.

Customers claim via our app. For normal claims, the Naked claims chatbot (called Jade) guides you through the simple process and will ask you some questions. During this process customers are prompted to take a video selfie and explain what happened. Using Artificial Intelligence to process these claims we are able to instantly approve (without human intervention) some claims, and pay them immediately.

Naked clients can cancel their policy with a click of a button, without us making a counteroffer. Our technology not only makes it convenient to buy insurance, but it forces us to give you the best possible price. We don’t have a second bite at the cherry!

Unlike conventional insurers, Naked takes a fixed portion of premiums to run the business, with the balance going into a pool to cover claims. At the end of each year, money left over in the claims pool goes to charities nominated by clients rather than towards company profits. This means that Naked’s income doesn’t depend on whether or not claims are paid and keeps Naked honest and unconflicted when assessing claims.

Devices and Platforms Supported: Android , iOS (iPhone / iPad)

App Categories: Business and Finance

Nominated for: 2020 Summer AwardsBest New Mobile App

Price: Free

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