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ETAP Raises $1.5m to Expand Africa’s Car Insurance Services

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ETAP Car Insurance Services

By Adedapo Adesanya

ETAP, an insurtech startup that makes it easy to buy and claim insurance, says it has secured $1.5 million in pre-seed funding to drive the adoption of car insurance across Africa.

The pre-seed funding round was led by Mobility 54 (the Venture Capital arm of Toyota Tsusho and CFAO Group), with participation from Tangerine Insurance, Graph Ventures (invested in Clubhouse), Newmont, and other angel investors.

According to its Chief Executive Officer, Mr Ibraheem Babalola, the new funding will support the roll-out of ETAP’s game-changing app which allows drivers to buy insurance in 90 seconds, complete claims in three minutes or less and get rewarded for good driving and avoiding accidents.

Mr Babalola said that working with a wide range of automotive value chain players, ETAP would also explore other opportunities to deliver much-needed car insurance services to owners in other countries across the continent.

“In spite of the longstanding regulation, making car insurance compulsory, more than 100,000 car accidents were reported between January 2019 and December 2021, only one in five cars in Nigeria are currently insured.

“The complexities of buying and claiming insurance has led to widespread apathy for traditional insurance companies and products, with many car owners opting to go without insurance.

“With ETAP, the entire process of buying and claiming insurance happens exclusively on a smartphone, enabling a seamless and enjoyable insurance experience for users,” he said.

He said that ETAP uses machine learning to build intelligent risk profiles that determine appropriate premiums for each driver, allowing them to achieve lower premiums by driving safely.

“Using advanced telematics, the experience is gamified to improve driving behaviour and drivers can earn safe driving points that can be exchanged for shopping vouchers for the most in-demand retail outlets, fuel, cinema and concert tickets among others,” he said.

Mr Babalola said that drivers would have flexible coverage options, including daily, weekly, monthly, quarterly and annual plans depending on their needs.

“In the unfortunate event of an accident, they simply need to take a picture of the affected part of the car via the app and the artificial intelligence processes they claim based on previously uploaded images,” he said.

Mr Babalola said that the app came with geolocation tags, timestamps and other features to prevent fraudulent claims, as well as crash notification, emergency support and more.

“Since we launched in November 2021, ETAP has insured more than 130,000 individual trips and over 500,000 kilometres in car journeys, which represents more than eight times the total distance of paved roads in Nigeria.

“Just like any other digital service, we believe Nigerians should be able to buy and claim car insurance without having to ‘call a guy’.

“We also believe that rewarding good drivers can be a catalyst for better driving and making our roads safer.

“This is why we have created Africa’s most powerful car insurance app and we are excited to have raised these funds to bring more users on board,” Babalola said.

He said that many times, the process of buying and claiming insurance in Africa is so out of touch with the everyday reality of most people.

Mr Babalola said that ETAP would change the game and make the process just as enjoyable as any other experience that consumers access on the mobile phone.

On the part of the lead funder, Project Manager at Mobility 54, Mr Yumi Takagi, said, “ETAP is addressing many challenges that impact the automotive experience in Africa and we are excited to support and work with them to bring their innovation to more drivers across the continent.”

Mr Takagi said that he believed ETAP would engage with this important role and revolutionise the automotive insurance industry with its powerful technology.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Interswitch Digitises Nigeria’s Interstate Travel With Ticket Vending Platform

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Interswitch

By Modupe Gbadeyanka

Nigeria’s interstate transport ecosystem has been digitalised by the introduction of a ticket vending platform by one of Africa’s leading integrated payments and digital commerce companies, Interswitch.

This comprehensive digital solution was designed to transform ticketing, streamline operations, and enhance service delivery.

At the core of the solution is a secure, token-based system that allows travellers to purchase digital tickets across multiple channels, including web, mobile, and dedicated point-of-sale (POS) devices deployed at transport terminals.

These tokens serve as verifiable digital vouchers, which are validated and redeemed at boarding points, significantly reducing inefficiencies associated with manual ticketing, cash handling, and fragmented sales processes.

It was developed as both an operational management system and a digital marketplace to allow transport operators, particularly small and medium-scale businesses, to digitise their end-to-end processes while connecting to a broader customer base through the Quickteller ecosystem.

With this innovation, operators can seamlessly create and manage routes, oversee terminal activities, track sales, and access real-time performance insights from a single, centralised platform.

It also introduces a marketplace experience that enables travellers to search, compare, and select transport options across multiple operators based on routes, schedules, and pricing. This not only simplifies journey planning but also promotes transparency and choice for commuters.

The platform also supports corporate and institutional users by enabling bulk token purchases, offering a flexible and efficient solution for organisations managing employee or group travel.

In addition, it delivers value to regulators and stakeholders within the transport ecosystem by providing access to structured data and actionable insights that can support oversight, licensing, and consumer protection efforts.

“Transportation remains a critical backbone of Nigeria’s economy, yet much of the sector still operates with fragmented systems and manual processes that limit efficiency and growth.

“With the Ticket Vending Platform, we are introducing a scalable digital infrastructure that empowers transport operators to modernise their operations, expand their reach, and deliver a more seamless experience to travellers.

“Beyond ticketing, this is about creating a connected ecosystem, one that brings together operators, commuters, and regulators on a unified platform, while driving transparency, efficiency, and long-term value across the industry,” the Managing Director for Industry Ecosystems at Interswitch, Ms Chinyere Don-Okhuofu, said.

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FRSC, Brewery Companies Renew Pact to Tackle Drink-Driving

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FRSC Brewery Companies

The Federal Road Safety Corps (FRSC) has renewed a strategic partnership with major brewing companies in Nigeria to intensify efforts against drunk driving and improve road safety nationwide.

The renewed Memorandum of Understanding (MoU), signed with members of the Beer Sectoral Group (BSG), extends the collaboration for another five years, with both sides pledging to deepen public awareness, enforcement and community engagement.

FRSC Corps Marshal, Shehu Mohammed, said the partnership underscores the importance of synergy between government and the private sector in addressing road crashes, particularly those linked to alcohol consumption.

He stressed that saving lives on Nigerian roads requires sustained collaboration, adding that the corps would continue to work with industry players to promote responsible behaviour among motorists.

Speaking on behalf of the BSG, Managing Director of Nigerian Breweries Plc and Chairman BSG, Thibaut Boidin, said the renewal reflects the industry’s commitment to sustained collaboration with regulators. He cited previous joint campaigns, including the Don’t Drink and Drive Campaign, as impactful, adding that the next phase would focus on expanding reach and strengthening implementation.

Also speaking, the Managing Director of Guinness Nigeria, Girish Sharma, said the industry remains committed to supporting initiatives that promote safer roads. He noted that while alcoholic beverages are often blamed for road crashes, the real issue lies in irresponsible consumption, particularly drinking and driving.

“We are here to work with you and ensure that this programme grows bigger and delivers real impact. Saving lives is what matters most,” he said.

Similarly, the chief executive of International Breweries Plc, Mr Nicholas Kade, commended the FRSC for its dedication, describing the corps’ efforts as critical to making communities safer. He said the brewing industry would continue to support initiatives that promote responsible drinking and road safety.

The Executive Director of the Beer Sectoral Group, Ms Abiola Laseinde, described the renewal as a milestone in public-private collaboration.

She said the partnership had driven nationwide campaigns against drunk-driving, influenced behaviour and reached millions of Nigerians with road safety messages.

Ms Laseinde added that both parties would scale up interventions in the next five years to further reduce crashes and promote responsible alcohol consumption.

The FRSC and BSG’s partnership has been central to national campaigns discouraging drunk-driving, with stakeholders expressing optimism that the renewed agreement will deliver stronger outcomes.

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NRS Denies Introduction of New Vehicle Tax from July 1

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new vehicle tax

By Modupe Gbadeyanka

The Nigeria Revenue Service (NRS) refuted reports making the rounds on social media that the federal government plans to introduce a new tax on vehicles from July 1, 2026.

Mr Dare Adekambi, who serves as the Special Adviser to the NRS Chairman, Mr Zach Adedeji, and spokesperson for the organisation, said in a statement that the government was not planning to introduce the vehicle tax as claimed.

He described a viral infographic purporting the policy as false and misleading, urging members of the public to disregard it.

Mr Adekambi advised citizens to only rely on information from the NRS, urging them to follow the company its official handles on all social media platforms and its website for accurate information about tax and its activities.

In the infographic, motorists were directed to pay an unspecified vehicle tax rate online or at approved banks and agencies. The website listed as NRS’s was the old one, http://www.firs.gov.ng and not the new http://www.nrs.gov.ng created after it was rebranded.

“The NRS wishes to state categorically that the information did not emanate from the service or any government agency.

“Citizens are, therefore, advised to disregard the fabricated messages designed to mislead the public and instead rely on official government channels for information on government policies,” Mr Adekambi said in the statement.

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