Digitizing Informal Trust and Reputation
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.
Nudging the Insurance Industry
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 Network Service (INS) 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.
DDFinance is a Norwegian and Kenyan Fintech
After realizing that 3 billion people globally live without insurance cover, DDFinance was established in 2015 by Norwegian and Canadian entrepreneurs in close collaboration with central players in the Kenyan insurance industry.
This dire market failure exposes people with low income to falling (back) into poverty following an unforeseen event. Today our core team consists of 14 seasoned entrepreneurs, social scientists, experienced insurance practitioners, and multiplatform technology specialists, all united in our belief for better health, more well-being – and less poverty among vulnerable populations.
We draw on our global network to assemble a team of experts.
DDFinance AS
Jan-Martin Hunderi
Henni Ann Aasen
Børge Mikal Bendiksen
DDFinance Kenya
Grace Wambui
Wanjiku Karanja
Mercy Njagi
DDFinance Canada
Brian Campell
NOREC Participants
Daniel Gitau
Sarfo Twumasi Bernard
Pretorious Ndung'u
Anders Midttveit Hjellum
Christine Marie Gulbrandsdatter Eng
