SunCulture, a solar-powered irrigation solutions firm has partnered with Turaco Microinsurance, to launch SunCulture Protect to protect smallholder farmers using SunCulture’s pay-as-you-go (PAYG) devices.
Each year, health shocks push 14 million people into financial hardship, a figure projected to increase by an additional 10 million due to the health impacts of climate change. This partnership aims to address the urgent need for risk mitigation tools, such as insurance, for the most vulnerable populations, enabling and expanding access to healthcare.
“At SunCulture, our mission has always been to help smallholder farmers grow more food and improve their livelihoods,” said Samir Ibrahim, CEO of SunCulture. “Partnering with Turaco allows us to extend our commitment by not only providing sustainable energy solutions but also offering financial security and peace of mind to our customers and their families. “
SunCulture Protect offers essential health and life coverage, safeguarding customersand their families against unforeseen medical expenses and risks that are exacerbated by extreme weather events.
Turaco Microinsurance, the underwriting arm of Turaco Group, a Pan-African embedded insurtech driving financial resilience founded in 2019, is present in Kenya, Uganda, and Nigeria.
Turaco partners with leading mobile network operators (MNOs) and technology-enabled companies as well as microfinance institutions to distribute simple and affordable insurance products for their customers. With Turaco, individuals can secure insurance coverage with premiums starting as low as $1 per month. Turaco processes claims in less than three business days, ensuring customers receive their money when they need it the most. With a vision to insure 1 billion lives in Africa, Turaco has insured more than 2.5 million lives and has facilitated the payment of hundreds of thousands of claims to date.
Ted Pantone, CEO of Turaco, expressed similar enthusiasm: “We believe that affordable insurance should be accessible to everyone, especially those that are the most vulnerable to the impacts of climate change. Our partnership with SunCulture enables us to provide essential coverage that not only protects livelihoods but also fosters long-term resilience among smallholder farmers.”
By combining SunCulture’s innovative agricultural solutions with Turaco’s expertise in affordable insurance, the collaboration is committed to making a lasting difference in the lives of millions.
By offering affordable and sustainable irrigation systems via an innovative pay-as-you-go (PAYG) model, SunCulture enables farmers to access modern agricultural technology without prohibitive upfront costs. This approach has empowered thousands of farmers across multiple African countries to increase crop yields, improve food security, and enhance their livelihoods.