About – DataDrivenFinance AS

Our Vision: To Strengthen Resilience Among Low-Income Households

Built as a Pan-African B2B2C franchise business case, DataDrivenFinance AS (DDFinance) scales digital, low-cost national insurance marketplaces and distribution systems in developing countries.

DDFinance is a Norwegian insurance and automation specialist, established to enable low-cost insurance for the uninsured low-income populations globally.

Kenya is our first country of operations. Together with our daughter company, DDFinance Kenya, we have innovated, developed, and piloted Collective Based-Insurance (CBI).

CBI is built on digitizing informal trust and reputation within collectives.

Today DDFinance Kenya operates a fully digital insurance market system in Kenya.

The market system connects local insurance companies’ capacity to underwrite and carry risks directly with low-income consumers. Based on digital low-cost insurance workflows, the market system allows for profitable insurance products at very low premium levels.

At its core the market system is managed on our Insurance Platform as a Service (IPaaS) platform, guaranteeing availability, scalability, and compliance with the most demanding data security standards.

DDFinance leverages the opportunity that innovation and technology present and contributes towards digitizing and automating the insurance industry. This enables creation of competitive and balanced national formal insurance markets to evolve, to finally include also the uninsured majority populations in developing markets.

2015

DDFinance AS founded

Founded in Norway.
Designed from the beginning to scale digital, low-cost insurance marketplaces in Africa.
Building the Insurance Platform as a Service (IPaaS) starts.

2018

DDFinance Kenya Ltd. founded

Founded in Kenya.
The first daughter company of DDFinance AS.
The first and blueprint DDFinance national franchisee.
IPaaS pilot testing starts in Kenya.

2020

DDFinance Burundi Initiated

Burundi feasibility studies initiated.
B Lab's certification achieved by documenting social performance, accountability, and transparency.
Investments in IPaaS development work tripled.

2022

Business Model Adjustment

IPaaS delivers full B2B2C digital insurance workflow for all B2B contract partners.
DDFinance pull back from engaging own personnel in B2C sales.

2023/24

Market Segment Adjustment

Late 2023: Sales focus on microfinance banks (MFIs) where:
1. Owners value increased profitability through insurance sales.
2. Managers are held accountable towards insurance sales targets.
3. Struggling MFIs can double profit through insurance sales.