Peer-to-Peer lending startup that connects verified borrowers to verified lenders to receive and fund a loan respectively, P2Vest, has launched an insurance marketplace to enable its customers to access quality insurance products.
The startup disclosed that the newly launched product will provide solutions to both individuals and businesses enabling them to easily buy and make claims on insurance products using their mobile phones.
Speaking on the launch of the product, CEO of P2Vest Mr. Austin’s Abolusoro said, “We have operated for the past two years with a goal of bridging the financial inclusion gap. However, we have taken this goal a step further by creating a quality insurance marketplace for users.
“We are bringing convenience to individuals, with fast-paced insurarce solutions on their mobile phones and we look forward to creating more inclusive products. I am also glad to tell you that P2Vest is a pioneer of this kind of technology-driven insurance product in Nigeria. We have the license to operate and we are confident about what the future holds”.
Also commenting on the launch is P2Vest Chief Operating Officer Samuel Abolusoro who said, “This is a huge breakthrough as we believe financial inclusion can also be achieved in the Insurance Industry making it possible for users to easily buy and make claims from their insurance companies with their mobile device.
“What we have done creates an avenue for Individuals to access quality insurance products from renowned names in the industry. Our partnerships enable us to expand this digital offering to our users and advance our commitment to driving financial inclusion”.
Founded in 2020, P2Vest provides loan to credit-worthy Nigerians for immediate needs like school fees, rent, and medical expenses, whilst simultaneously availing others the opportunity to make money by lending.
Investors King understands that the startup uses artificial intelligence as part of the credit score algorithm to assess who is loan-worthy, which is a unique strategy that protects lenders whilst providing financing to eligible borrowers. In December 2022, the startup hit the 200,000 users landmark.
