Team Top Hill has emerged winner of the maiden Insurtech Hackathon themed “Shaping the Future of Insurance” following the launch of “thehatch”, an innovation Lab set to build, scale and provide a nurturing environment for Fintech Start-ups by ensuring a level playing field for domestic technological ideas.
Team Top Hill won N2 million while Team Autosmart, First Runner Up and Team Sirocco, Second Runner Up went home with N1.5 m and N1m respectively.
Team Top Hill’s solution Next Door InsureTech provides insurance operations over WhatsApp and the solution aims to take insurance to the millions of social media users in Nigeria. It was named the winner by the panel of judges including Tobi Koyejo, Jacqueline Jumah, Idowu Jimoh, Femi Aderibigbe, Maxwell Anumba, Chidinma Iwe, Ayo Adegboye, Caroline Anie-Osuagwu, Yetunde Ilori and Ashwin Hedge.
The 2-day event held at Inlaks’ Corporate Head Office featured CEOs, CIOs, and participants from the insurance, technology, Fintech and other sectors across Ghana, Nigeria, and Kenya.
With over 85 participants, the contest witnessed the creation of technologically-enabled solutions that addressed significant challenges in the insurance sector. The three leading teams with innovative Insurtech solutions were rewarded with cash prizes.
The team leader, Team Tophill, winner of the hackathon, Oni Joseph noted that the knowledge, connections and exposure the event has afforded him is priceless.
His remarks: “Asides winning the grand prize funds, I am highly privileged to have been a part of the making of technological solutions that would influence the Insurance industry in Sub-Saharan Africa. The insurance industry remains untapped; however, the solutions my colleagues and I have presented today will spur it on digitally. On behalf of my team members and the rest of the participants, I say a big thank you to Inlaks, the future is ours to conquer”.
Expressing his utmost delight and optimism for the futuristic and long term significance of thehatch Innovation Lab in Africa, the Executive Director (Innovation and Business Transformation) at Inlaks, Olufemi Muraino said; “With thehatch launch and the maiden Insurtech Hackathon, we have been able to bring together a host of brilliant African tech minds who have innovatively invented solutions tailored to the insurance industry. I am elated at the launch of our Tech Hub as we are focused on opening up new markets while also introducing innovative information technology products into the Sub-Saharan African markets”.
Over 75 participants formed 20 teams that competed for the grand prize at #thehatch #Insurtech Hackathon. In the end, 3 teams emerged tops. Meet our Top 3 participants; TEAM TOP HILL (Winner), TEAM AUTOSMART (1st R.Up) & TEAM SIROCCO (2ND R.Up)#Hackathon #MondayMotivation pic.twitter.com/GeAVY5yhMH
— thehatch Innovation Lab (@thehatchilab) July 29, 2019
Femi Adeoti, MD Africa Operations, Inlaks in a statement explains the motive, vision and plans for thehatch: “Inlaks has been thriving favourably in the ICT space for over three decades now. We, no doubt, are aware of the immense contributions of technology to mankind from that time till this present moment. Technology has been, is and will continue to be a necessity in our world. Continuous change and growth in tech solutions to adapt to man’s need is also proof of the growing demands for technological inventions.
“With thehatch, Inlaks is ready to be an anchor for worthy home-based (African) solutions to give them global relevance. We call on young techpreneurs to take a giant step towards making a huge impact on the global tech evolution trend. Our vision for thehatch is to be Africa’s most sought after centre for innovative technology, human capital, and start-ups ready to transform the economic future of Africa”.