MICROCAPITAL BRIEF: SureBüddy, Provider of Free Funeral and Handset Insurance, Expands to Uganda

South African technology firm AxMe International Services recently expanded its SureBüddy insurance application to Uganda, allowing users in that country to view advertisements in return for no-cost insurance for their mobile phone screens. The service, which is available on mobile devices that run on the Android operating system, pays to replace broken phone screens as often as twice per year.

SureBüddy is also available in Nigeria and South Africa, where users can access free coverage for funeral expenses as well as phone screens. AxMe plans to expand the service elsewhere in Sub-Saharan Africa as well as Asia.

SureBüddy’s funeral cover policies in Nigeria, which are issued in the amount of NGN 200,000 (USD 635), are underwritten by Leadway Assurance Company Limited, an insurance corporation headquartered in Lagos, Nigeria. South Africa’s African Unity Life Limited underwrites SureBüddy’s policies in South Africa, where the funeral cover of ZAR 8,000 (USD 610) is offered. Screen repair is provided by Phone Doctors in Uganda and Akede Digital Media Village in Nigeria. The name of SureBüddy’s screen repair affiliate in South Africa is not available.

While financial information on AxMe also is unavailable, the firm is affiliated with Octivate, a South African investor in technology.

By Christian Chartier, Research Associate

Sources and Additional Resources:

[1] “SureBuddy Insurance App, a First for Uganda”, ItsNewsAfrica.com. http://www.itnewsafrica.com/2017/03/surebuddy-insurance-app-a-first-for-uganda/

African Unity Life Limited

AxMe International Services Ltd

Leadway Assurance Company Limited


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