• Saturday, December 09, 2023
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Inlaks gives N4.5million to tech startups with innovative insuretech solutions


In a bid to spur local innovation, Inlaks, a technology systems integrator, has given out a total of N4.5million to three winning technology startups with incredible solutions particularly for the insurance sector, in its 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, Inlaks organised a contest where entrepreneurs with technologically enabled solutions that addressed significant challenges in the insurance sector could come and pitch their solutions to Judges comprising CEOs, CIOs and experts from insurance, technology and Fintech industries. The three leading teams with top-notch Insurtech solutions carted away the prizes.

As one of the foremost ICT companies in Sub-Saharan Africa, Inlaks continually upholds and spearheads projects/ideas that will birth cutting-edge ICT products and solutions. The launch of thehatch reinforces Inlaks 2.0’s vision to identify, promote, support, and encourage home-based technology entrepreneurs.

Expressing his delight and optimism for the futuristic and long- term significance of thehatch Innovation Lab in Africa, Olufemi Muraino, the executive director (Innovation and Business Transformation) 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”.

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 a 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 center for innovative technology, human capital, and start-ups ready to transform the economic future of Africa”.

Winners who emerged at the Hackathon include: Team Tophill, won N2million; Team Autosmart, won N1.5million; Team Sirocco, won N1million. Expressing his gratitude to the management of thehatch, Oni Joseph, team leader, Team Tophill, winner of the hackathon, noted that the knowledge, connections and exposure the event has afforded him is priceless. In

“Aside wining 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,” he said.


Jumoke Akiyode-Lawanson