Terms of Service

1. The platform

InsureAfrica operates a technology platform on which licensed insurance brokers submit client risk profiles and licensed insurers place bids. InsureAfrica is not an insurer and does not provide insurance advice. Your broker — not InsureAfrica — reviews offers with you and arranges your policy. InsureAfrica never collects, holds, or transmits premiums or claim payments.

2. Currency of transactions

All transactions on the exchange — quotes, bids, premiums, and platform fees — are denominated and settled in United States dollars (USD). Where the platform displays amounts in another currency, those figures are indicative conversions calculated at the platform's reference exchange rate at the time of display, provided for convenience only. They are not binding, may differ from your bank's rate, and may change as reference rates are updated. The USD amount of a bid or bound premium is the amount that governs. Your chosen display currency can be selected when you create your account. Reference rates are refreshed daily (Rates by Exchange Rate API) and may be overridden by the platform administrator.

3. Sealed bidding and binding

Bids on standard submissions are sealed until the bid window closes. Bids on instant submissions are visible immediately and may be accepted immediately. A policy is bound only when your broker, after reviewing the offers with you, accepts a bid on your behalf. All bid prices derive from each insurer's governed pricing algorithm and every action is recorded in an audit log.

4. Your data

Risk profiles shared with insurers are anonymized until a policy is bound. Your personal information is processed in accordance with applicable data-protection law in your market and shared only with your broker and, on binding, the insurer whose bid was accepted.

5. Accounts

You are responsible for the confidentiality of your credentials. Customer accounts are linked to a licensed broker via that broker's exchange code; the broker remains responsible for the placement services provided to you.