At a Glance
Bismart leverages technology to market insurance products such as mobile phone insurance to tech-savvy millennial Africans.
Insurance penetration in Sub-Saharan Africa is generally low due to distrust of the industry partially due to low financial literacy and the complexity of financial products and cumbersome claims processes. To address these problems, Bismart is working with GreenTec Capital and Konfid.io to develop a blockchain based solution to administer and process insurance claims. To facilitate insurance premium payments, the company is developing a mobile-money based digital wallet system with Flowcash to help users save up for payments.
Leveraging Konfid.io’s technological expertise, GreenTec will support Bismart in implementing a blockchain based insurance platform. The platform will use Konfid’s specialization in developing Smart-contracts to automate insurance claims processing and increase transparency.
Bismart’s Digital Wallet system helps African millennials to develop financial literacy and expands access to finance and financial services. Offering clients a convenient and flexible Flowcash wallet system to facilitate savings for insurance and premiums.