01. Santam Startup Idea Programme

Santam Safety Ideas Challenge

Simple, smart ideas have the power to improve the well-being of South Africans. At Santam, that’s exactly what insurance good and proper means – not only being there for our clients when something goes wrong, but also helping prevent it from happening in the first place.

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02. The Details

Fintech and Agritech Startups

Santam, South Africa’s leading short-term insurer, believes that is what insurance good and proper means – not only providing insurance, but also continuing to innovate and ways to add value to our customers’ lives.

All it takes is one idea, which is why Santam has partnered with LaunchLab.

Do you have a one-of-a-kind fintech or insurtech business venture running? We want to know about it so we can make it a reality with Santam’s help and incubation support from the LaunchLab.

Submit a short video (cellphone footage is perfect) of yourself explaining your business. You can submit it through the entry form noted below, or through WeTransfer once you have signed up.


How It Works

Online entries close on 28 February 2019. You can apply online and submit a video of no longer than 3 minutes explaining your business and including the following:

  • What your business is
  • How it will solve real fintech/insurtech challenges that Santam faces
  • Proof of your track record in the market

After all the submissions are received, 10 participants will be shortlisted based on the following criteria:

  • Applicability to Insurance: Does your startup align with or disrupt the insurance industry value chain? Does your startup focus on enhancing insurance capabilities using technology? Does your startup target enriched insurance business models? Does your startup utilise emerging technologies like, Blockchain, AI, Advanced analytics etc?
  • Originality/Competitiveness: Is the startup innovative? Will it enhance Santam’s product offering?
  • Time to market: How much time will it take to pilot and implement the product with Santam?
  • Proven Track Record: Do you have evidence of your ability to deliver commercial value to Santam?

Shortlisted participants will be prepared to pitch to a Santam panel of judges.

The shortlisted participants will pitch to a panel of Santam judges on 27 March 2019 at a showcase event where 5 finalists will be selected.

The 5 finalists will be given the opportunity to engage with Santam to prove their business case as well as participate in LaunchLab programmes if needed.

The 5 finalists will again pitch to a Santam panel of judges and one winning startup will be chosen by Santam and receive R200,000 in seed funding to pilot with Santam.

Should Santam choose to invest, depending on the investment vehicle and business assessment, funding and contractual elements of the new business will be discussed. Please refer to the participation terms and conditions for further info.


Up To The Challenge?

Enter your details in the form below and choose “Santam Insurtech” for the challenge