AllLife, a company that provides life insurance cover to people living with HIV and diabetes in South Africa, could soon be making a foray in the Indian market.
In India, it plans to target diabetes patients.
Cover to HIV people
“AllLife provides life insurance to HIV positive people in South Africa. Basically, they serve a population that previously had no access to affordable life insurance, and were seen as uninsurable” said Jim Roth, Co-Founder of LeapFrog Investments, which has put $7 million (around ₹40 crore) in AllLife.
‘Exciting market’
LeapFrog’s equity investment in AllLife enabled the company to expand its team, introduce new products, and increase insurance coverage of HIV positive and diabetic individuals.
Though AllLife caters only to South Africa, Roth added that India was a very exciting market for the insurer, “less for HIV, but very exciting for diabetes.
AllLife has a diabetes insurance product, which could be launched here. AIDS is not such a major issue in India, diabetes is.”
Last year, LeapFrog invested in Mahindra Insurance Brokers and Sriram Credit Capital.
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