Curacel Partners with Oze for Streamlined and Affordable Credit Life Loan Coverage

Oze, an all-in-one business app catering to SMBs in Ghana and Nigeria, teams up with Curacel for efficient and cost-effective acquisition of credit life insurance, thus minimizing the risk of non-performing loans.

Problem

Loan services bear inherent risks, such as borrowers being incapable of repayment due to grave illness or death, and Oze was no exception. Their primary hurdle was to secure credit life insurance on a large scale to cover numerous loans simultaneously. Moreover, they were looking for a proficient solution to secure insurance at competitive rates, without engaging in extensive negotiations and price comparisons.

Solution

With Curacel Grow, Oze has been able to get Credit Life insurance for loan applicants in a fraction of the time it takes to negotiate with an insurance company on their own. Oze can now purchase policies on the Curacel dashboard as needed for as many of their customers that apply for loans.

Results

Curacel Grow's partnership has led to significant improvements in Oze's insurance procurement process, saving time and manpower typically spent on acquiring insurance. Now, Oze can provide insurance for each loan transaction within minutes.

Risk Mitigation in Loan Services

Loan provision services are fraught with potential hazards. The ability of a borrower to repay can be severely impaired by health complications or even death, culminating in non-performing loans. Oze, a one-stop business app providing loans, experienced these risks. Their quest for a comprehensive solution that could safeguard their business from such setbacks, while also providing credit life insurance at scale, led them to Curacel.

Streamlining Insurance Acquisition

Curacel Grow offered Oze the ability to secure Credit Life insurance for their loan applicants rapidly, circumventing the often prolonged negotiations with insurance companies. Now, Oze can purchase the necessary policies directly from the Curacel dashboard, providing coverage for multiple customers applying for loans.

Claims Processing Simplified

With Curacel, claims resulting from severe illness or death affecting a borrower's repayment ability can be lodged instantly on the Curacel dashboard, eliminating the need for paperwork. This digital transformation has made the entire claims process more efficient.

Securing Competitive Rates

Securing competitive insurance rates without getting involved in multiple negotiation calls and pricing comparisons was a key challenge for Oze. Here, Curacel Grow, acting as a broker, ensured a smooth and affordable process of securing Credit Life insurance for Oze's customers.

A Transformative Partnership

The collaboration with Curacel Grow has brought about profound enhancements in Oze's insurance process. It has led to significant savings in terms of time and resources, with each loan transaction now being insured within minutes. This partnership signifies a significant step forward in Oze's journey to offer secure loan services to their SMB clientele.

Company
Oze
Industry
Fintech
Location
Nigeria
Size
11-50

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Curacel Partners with Oze for Streamlined and Affordable Credit Life Loan Coverage
Oze, an all-in-one business app catering to SMBs in Ghana and Nigeria, teams up with Curacel for efficient and cost-effective acquisition of credit life insurance, thus minimizing the risk of non-performing loans.
Company
Oze
Industry
Fintech
Location
Nigeria
Size
11-50
11-50
getoze.com

Risk Mitigation in Loan Services

Loan provision services are fraught with potential hazards. The ability of a borrower to repay can be severely impaired by health complications or even death, culminating in non-performing loans. Oze, a one-stop business app providing loans, experienced these risks. Their quest for a comprehensive solution that could safeguard their business from such setbacks, while also providing credit life insurance at scale, led them to Curacel.

Streamlining Insurance Acquisition

Curacel Grow offered Oze the ability to secure Credit Life insurance for their loan applicants rapidly, circumventing the often prolonged negotiations with insurance companies. Now, Oze can purchase the necessary policies directly from the Curacel dashboard, providing coverage for multiple customers applying for loans.

Claims Processing Simplified

With Curacel, claims resulting from severe illness or death affecting a borrower's repayment ability can be lodged instantly on the Curacel dashboard, eliminating the need for paperwork. This digital transformation has made the entire claims process more efficient.

Securing Competitive Rates

Securing competitive insurance rates without getting involved in multiple negotiation calls and pricing comparisons was a key challenge for Oze. Here, Curacel Grow, acting as a broker, ensured a smooth and affordable process of securing Credit Life insurance for Oze's customers.

A Transformative Partnership

The collaboration with Curacel Grow has brought about profound enhancements in Oze's insurance process. It has led to significant savings in terms of time and resources, with each loan transaction now being insured within minutes. This partnership signifies a significant step forward in Oze's journey to offer secure loan services to their SMB clientele.

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