ABOUT THE CHALLENGE

With car insurance premiums expected to rise over the next few years, drivers are increasingly looking to technology to reduce the cost of their insurance. One technology that’s leading the way in lowering premiums is telematics.

MUA, a Mauritian based insurance company and a major actor in the region, is looking for an innovative solution which will allow the company to position itself as a dynamic and innovative insurer, to optimize the motor insurance pricing based on the drivers’ behaviour and to encourage safe driving amongst its clients.

MUA intends to launch this innovative solution in Mauritius and in a second phase in East Africa (upon successful completion of the POC in Mauritius).

Do you have the right telematic solution?

CHALLENGE WORKS

What We Are Looking For

By combining telecommunications with vehicular technology, insurance companies can monitor various elements of a driver’s behaviour.

If you have an innovative telematic solution related to:

  • Mobile application

  • Dongle

  • IOT

  • Other (please specify) (excluding connected box which requires mechanical intervention)

Who can apply:

Eligibility Criteria

  • Your start-up is for profit, registered and up to date with your local compliance and governance

  • You have a telematics related product or service available in the market right now

  • Your commercial offer is attractive and demonstrate a good ROI

  • You have a proven strategy to implement your solution

  • You have a strong management team

  • You can easily deploy a team to Mauritius

  • You have potential to achieve scale into multiple markets

  • Most Likely your start-up has already received investments capital

  • You are willing to work with MUA to determine and calibrate an appropriate scoring model

  • You have a data analytics solution that would use data collected

WHY SHOULD
YOU APPLY

  • The Winning Solution will secure a lucrative contract with MUA to deploy the solution for them!!

  • MUA could buy the winning start-up solution’s for white mark utilization in Mauritius / or pay a monthly fee for white-labelled solution per active user in Mauritius.

  • MUA will sign a commercial contract with the winning start-up which includes a 12-month exclusivity in Mauritius (with the option for renewal).

  • The winning start-up will get the support for the Marketing and the Promotion of the start-up solution in Mauritius and in a second phase and upon success in East Africa

OUR SELECTION CRITERIA

To select the top 5 Start-ups and the winners
Commercial Value

Commercial Value of your Product/Service

Your company addresses a real problem in the motor insurance segment (B2B and B2C). The telematic solution is differentiated to others in the industry and can be adapted for different markets.

MUA Statement

MUA Statement and beyond

Your solution addresses the current challenges MUA faces and has the ability to be implemented with all MUA customers (B2B and B2C), as well as being applicable in East Africa.

Management

Management

The team has the qualifications needed to make the business successful and you can deploy a team to Mauritius to set up operations.

Market Traction & Commercial

Market Traction & Commercial

We will evaluate your market traction as well as reference sites, number of users, major partners and clients. We’ll also look at your business model, revenue streams and unit economics.

Timeline



MUA Challenge Launch

Applications open

20th July 2020

General Challenge Regulations Webinar

28th August 2020

Applications Close

14th September 2020

Shortlisted Candidates’ Announcement

30th September 2020



Final selection

Strategy And Action Plan Submission

16th October 2020

Winners Announcement

30th October 2020

The MUA Challenge is organised by La Turbine.
Turbine is an Incubator, bridging the gap between investors and start ups.