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Founded Year



Series B | Alive

Total Raised


Last Raised

$17M | 10 mos ago

About Naked

Naked uses an artificial intelligence-based algorithm to bring down the cost of car insurance, by removing the business process such as call centers. It develops a fraud algorithm that claims to reduce inconvenience and helps to approve certain claims instantly. The company was founded in 2016 and is based in Johannesburg, South Africa.

Headquarters Location

The Pines, 9 Gordon Hill Road

Johannesburg, 2193,

South Africa

0860 995 125


ESPs containing Naked

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

Financial Services / Real Estate Tech

The homeowners insurance providers market is essential for anyone who owns or plans to own a home. Homeowners insurance provides coverage for property damage and liability, protecting homeowners from unexpected events such as fire, theft, or natural disasters. In addition, most mortgage lenders require homeowners insurance as a condition for granting a loan. With the potential for significant fin…

Naked named as Outperformer among 10 other companies, including Branch, Matic, and Honey Insurance.


Expert Collections containing Naked

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Naked is included in 3 Expert Collections, including Insurtech.



4,113 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience


Artificial Intelligence

10,987 items

Companies developing artificial intelligence solutions, including cross-industry applications, industry-specific products, and AI infrastructure solutions.



12,502 items

Excludes US-based companies

Naked Patents

Naked has filed 8 patents.

patents chart

Application Date

Grant Date


Related Topics




Sensors, Medical imaging, Body shape, Obesity, Medical signs


Application Date


Grant Date



Related Topics

Sensors, Medical imaging, Body shape, Obesity, Medical signs



Latest Naked News

IFC leads $17M investment in South African insurtech Naked

Feb 21, 2023

IFC leads US$17mn investment in South African insurtech Naked 14 Feb 2023 Naked Insurance , a South African insurtech company that helps consumers to insure their cars, homes and valuables, has raised $17 million in Series B funding led by the International Finance Corporation (IFC). The round welcomed participation from the German Development Finance Institution (DEG) and earlier investors Yellowwoods and Hollard. The news follows the Naspers-led  $11 million Series A round  that the South African insurtech announced in August 2021. According to a statement, the funding presents Naked with an opportunity to improve its AI and use it to grow Africa’s insurance market worth over $68 billion in annual gross written premiums. South Africa makes up 70% of this market, with an annual gross written premiums market of over $47 billion. However, only a fraction of personal insurance is sold without human intervention. But the pandemic changed how South African millennials consume insurance products. While 28% of South African millennials are in the market for insurance, 60% of them would prefer communicating with their insurer via the internet. For insurers, this online automation can reduce the cost of a claims journey by 30%. Founded in 2018 by  Alex Thomson ,  Sumarie Greybe  and  Ernest North , Naked is a digital insurance platform covering cars, content, homes and standalone items. According to a statement, the company employs artificial intelligence to create new customer processes and experiences without speaking to a contact center agent. It allows businesses to reap significant cost savings from automation and pass them on to customers through lower premiums. Naked says its tech and business model differentiates it from other African insurtechs, such as Kenya-based  Turaco , which raised $10 million last September. “In contrast to the traditional model where insurers’ profits depend on how much they pay in claims, Naked charges a fixed percentage of customers’ premiums. In years when claims are lower than expected, the surplus goes to communities and good causes chosen by customers,” the statement said. Adamou Labara, IFC country manager for South Africa, speaking on the investment, said: “Improving access to insurance products is a key driver of financial inclusion in South Africa as it has the potential to preserve assets, increase incomes and reduce uncertainties. IFC’s investment in Naked will help increase the penetration of tech-driven insurance in the country and contribute to job creation and economic growth.” The funding round will accelerate the startup’s growth plans, including growing its team and expanding into new markets, according to CEO Thomson.

Naked Frequently Asked Questions (FAQ)

  • When was Naked founded?

    Naked was founded in 2016.

  • Where is Naked's headquarters?

    Naked's headquarters is located at The Pines, 9 Gordon Hill Road, Johannesburg.

  • What is Naked's latest funding round?

    Naked's latest funding round is Series B.

  • How much did Naked raise?

    Naked raised a total of $31.6M.

  • Who are the investors of Naked?

    Investors of Naked include Yellowwoods, International Finance Corporation, DEG, Hollard Insurance, Hollard Investments and 3 more.



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