Tune Protect expands into Africa’s market
Tune Protect Group (Tune Protect), a digital insurer, announced its expansion into the African market through its joint venture company, Tune Protect EMEIA (TP EMEIA), a digital travel technology facilitator in the Europe, Middle East India & Africa.
According to its press statement, the group entered into a strategic partnership with Leadway Assurance Company Ltd (Leadway), an insurance company in Nigeria along with Tune Protect Re Malaysia, to cater to various travel and lifestyle assurance products via the digital businessto-business (B2B) channel in Nigeria.
Leadway Assurance is the first B2B partner for Tune Protect Re and TP EMEIA within the African continent, with a dedicated focus on B2B Travel, offering a portfolio of more than 10 travel and lifestyle assurance propositions. Under this strategic collaboration, TP EMEIA renders the travel technology solutions of White Label Ltd, Malaysia (White Label), the insurtech arm of Tune Protect Group based in Malaysia to Leadway Assurance.
Tune Protect group chief executive officer Rohit Nambiar expressed his excitement for this expansion into Africa, saying, “Our entry into the African market marks a significant milestone for Tune Protect Group as we continue to broaden our global footprint.
“Our efforts do not stop here. The team is continuously exploring opportunities for collaborations that provide synergistic advantages and demonstrate economic viability.
“In the pipeline, we are planning to expand into nine more countries in Asia and Africa, delivering valuable insurance products to meet the diverse needs of the global market.”
The strategic partnership was formally launched in August 2023, marking the commencement of the distribution of travel and lifestyle products in Nigeria.
“We are delighted to announce our entry into the Nigerian market, marking a strategic move to extend our presence within the broader African market. Our collaboration with Leadway, through Tune Protect Re and supported by White Label serves as a pivotal milestone, leveraging our profound expertise in travel & technology. We are confident in our ability to effectively cater to the evolving demands for travelers, not only in Nigeria but also across other African nations.
“Building upon our established track record of success within the Europe, Middle East, India we are eager to replicate this achievement within Africa, commencing with our partnership with Leadway,” said Tune Protect EMEIA CEO Arijit Munshi.