Bridging the Insurance Gap: How Curacel is Driving Insurance Penetration in Underserved Markets.

Today, we are shining the light on Curacel, an Insurtech company and one of our business customers backed by leading tech investors like Google, Facebook and YCombinator and have been recognised as one of the top 100 insurance firms in the world.

Hi, what’s your name and your role at Curacel?

My name is Oluwapelumi Olawale, People Operations Manager at Curacel.

What’s your favourite thing about working at Curacel?

I truly value the incredible individuals I have the opportunity to collaborate with and the ample room for personal growth and development within my role. What sets this work environment apart is my empowering sense of ownership over my tasks and responsibilities, coupled with the understanding that making mistakes is a natural part of the learning process.

What does Curacel do?

Curacel is an insurtech company dedicated to boosting insurance penetration in emerging markets, where insurance coverage is relatively low by leveraging technology and innovation.

What sets Curacel apart from other insurtech firms and makes it one of the top 100 insurtech firms in the world?

We are fortunate to have a team of exceptionally dedicated and hardworking individuals who consistently go above and beyond to deliver top-notch solutions. Their unwavering commitment to excellence drives our success. Moreover, we take great pride in our product, which we firmly believe is the leading insurtech offering in the market. Its outstanding features, capabilities, and user experience set it apart from the competition, making it the preferred choice for our valued clients.

How do you explain your solution to a layman?

Health Claims

When you visit a hospital with health insurance, your immediate payment may not be required. However, it doesn’t mean the hospital doesn’t benefit from your visit. At the end of the month, Health Maintenance Organizations (HMOs) need to reconcile with hospitals, and this is where the claim submission process becomes crucial. Historically, hospitals manually submitted stacks of paper containing treatment plans to the HMOs for payment reconciliation.

But now, Curacel’s Health Claims solution is revolutionising the entire process by digitising it. Our innovative platform allows for seamless claim vetting and verification on a digital portal, transforming how fraudulent claims are detected and managed. This digitised approach ensures accuracy and efficiency and enhances transparency throughout the reimbursement process.

Some of our Claims Clients include UAP, Jubilee, HCI, Lifeworth, etc.

With Curacel’s Health Claims solution, healthcare providers and HMOs can now experience a streamlined, secure, and user-friendly system that simplifies claim submission, reduces errors, and improves overall operational effectiveness

Curacel Grow (Embedded Insurance): Grow helps you easily sell insurance with your products and on your platforms to build trust and increase customer loyalty. Some of our Grow partners include Topship, Truq, Send.

Can you share examples or success stories of how Curacel’s solutions have improved efficiency and effectiveness in the insurance industry?

We take immense pride in validating and endorsing our products by esteemed clients within the industry. Notably, renowned companies like Truq, PocketApp, and Alat by Wema have recognised the importance and value of integrating the Curacel solution into their operations. 

Can you share any interesting things about the company culture or team dynamics at Curacel?

At Curacel, we foster a culture of ownership and accountability. Every quarter, we set clear Objectives, Key Results (OKRs) and Key Performance Indicators (KPIs) that align with our goals. These targets are not mere aspirations but are actively reviewed every two weeks to ensure we are consistently putting in the necessary effort and making progress. Our employees take full responsibility for their work and are proactive in driving their success rather than solely relying on HR departments.

In addition to our focus on results and performance, we strongly believe in cultivating a supportive and cohesive team environment. We organise various team bonding activities that promote collaboration, camaraderie, and mutual care among our employees. It’s not uncommon for an employee to show acts of kindness, such as voluntarily getting lunch for the entire team without being asked to do so. These gestures of care and consideration exemplify the close-knit relationships within our organisation and reinforce our commitment to fostering a positive and supportive work atmosphere.

Can you describe any unique team-building activities or traditions that Curacel employees participate in?

Book Club: As a company, we cultivate a culture of learning and personal development by reading a book monthly. We then discuss and review the key takeaways, fostering intellectual growth and knowledge sharing among our team members.

Friday Happy Hour: We understand the importance of work-life balance and fostering strong colleague relationships. During this casual gathering, employees take turns hosting conversations on various unrelated topics. It’s a fantastic opportunity for team members to unwind, connect on a personal level, and build meaningful relationships outside the confines of the office.

Quarterly Team Retreats: To nurture team spirit and reinforce our collaborative culture, we organise team retreats every quarter. These retreats provide an immersive experience where employees engage in team-building activities, strategic planning sessions, and creative problem-solving exercises.

Are there any specific partnerships or collaborations that Curacel has established to enhance its offerings and expand its reach?

At Curacel, we are proud to collaborate with esteemed companies such as Alat by Wema, PocketApp, and AXA Mansard. These strategic partnerships allow us to leverage the expertise and resources of industry leaders, enabling us to deliver innovative solutions and expand our reach in both local and international markets.

We actively participate in local and international events to amplify our presence and connect with a wider audience. These events serve as valuable platforms for networking, knowledge sharing, and showcasing our cutting-edge solutions.

Can you share insights into the plans of Curacel in terms of expansion?

At Curacel, our vision extends beyond borders as we strive to positively impact the lives of people in countries with low insurance penetration. By working towards becoming a global name and increasing our reach in these markets, we aim to bridge the insurance gap and contribute to these regions’ sustainable development and economic growth.

You can find some open roles available on Curacel’s LinkedIn page.

Curacel is one of the companies using our suite of products to improve their processes, and we’re thrilled to spotlight them as an example of how they are using technology to bridge the insurance gap.

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