Pineapple is Live
South Africa’s first P2P insurance is now available through Pineapple which launched today.
Founded in 2017, by Matthew Elan Smith, Ndabenhle Junior Ngulube and Marnus van Heerden, Pineapple has secured ~$400K from Lireas, the strategic investment arm of Hannover Re Group Africa, in return for a 25% stake in the business. Underwritten by short-term insurer Compass, users can insure items such as gadgets, jewelry and furniture by snapping a picture of the item using the Pineapple app. If the app doesn’t recognize the item, the user is able to enter it manually.
To celebrate the launch, Pineapple is giving away two golden tickets to Brazil – one hidden in the Pineapple app and one hidden in a pineapple.