The Ivorian insurtech startup WiASSUR has recently received a financial boost from the AXIAN Group, a major pan-African conglomerate, to enhance the distribution of its insurance products. WiASSUR operates an online platform that consolidates a variety of insurance products, providing customers with a user-friendly interface to compare different insurance options in terms of coverage and cost. This service streamlines the process of obtaining insurance, enabling customers to secure coverage swiftly and with full transparency.
AXIAN Group has acquired a portion of WiASSUR through its investment arm, AXIAN Investment. As a diversified business entity with a presence in 15 African countries and a focus on sectors with high growth potential, including financial services, AXIAN has become a significant shareholder in WiASSUR. With this investment, AXIAN will also play an active role in the governance of WiASSUR.
Teva Fontaine, the Chief Executive Officer of WiASSUR, expressed alignment with AXIAN Group’s ethos of prioritizing positive societal impact. He emphasized the importance of risk sharing as a fundamental principle of insurance, which is central to both development and welfare. WiASSUR aims to foster a more secure and prosperous future for individuals and businesses by offering insurance solutions that are both accessible and customized, thereby contributing to sustainable and inclusive economic growth.
This investment is a strategic move for AXIAN Group as it seeks to extend its reach in the insurance market. Hassane Muhieddine, the CEO of AXIAN Financial Services, highlighted that AXIAN Investment’s role is to make strategic investments in companies that not only generate value but also bolster economic progress in Africa. The investment in WiASSUR underscores AXIAN’s commitment to backing innovative solutions that address significant challenges on the continent and amplifies its ambitions in the burgeoning insurance industry.
