When Bente Krogmann moved to Africa over a decade ago, a cab ride through Rwanda sparked a question she couldn’t shake: what happens to people here when they get sick? That question became mTek, an insurance platform that embeds protection into the everyday transactions Africans are already making — and last year, it achieved a landmark exit through its acquisition by the global insurtech unicorn bolttech. In this episode, Bente pulls back the curtain on how she pulled it off — and why she’s just getting started.
About mTek
mTek is a leading Kenya-based insurtech reshaping East Africa’s insurance ecosystem through digital innovation. Established in 2019, mTek provides a fully digital, end-to-end distribution platform that seamlessly integrates general and life insurance products with both B2C and B2B2C functionality. The platform empowers more than 350,000 customers in Kenya alone to compare quotes from over 45 insurers and purchase coverage either upfront or through flexible installment plans.
About bolttech
bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in 39 markets across Asia, Europe, North America, and Africa. With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.
In This Episode
* (00m37s) Why healthcare financing in Africa needs a new approach
We begin with an exploration of the challenges of health financing and the unique opportunity of expanding mass-market health insurance uptake.
* (04m23s) Meet Bente Krogmann and the rise of mTek
Bente shares her journey from Germany to East Africa, how she built and exited a car wash company before mTek, and how her experiences in Rwanda inspired her to build a company focused on expanding access to protection and insurance.
* (07m20s) Why mTek pivoted from direct sales to embedded insurance
mTek shifted from direct-to-consumer insurance toward embedded distribution through pharmacies, travel platforms, retailers, and other trusted partners.
* (15m31s) Inside bolttech’s acquisition of mTekBente unpacks how the relationship with bolttech began, what global investors see in Africa’s future, and the realities of navigating an international startup acquisition.
* (24m42s) Selling Africa to global investors and corporates
A candid discussion about market timing, cultural fit, scaling African startups inside global corporations, and why founders often need to become advocates for Africa on the international stage.
* (33m52s) Lessons for founders on resilience, fundraising, and international markets
Bente reflects on the emotional highs and lows of entrepreneurship, investor alignment, preparing for exits, and why founders should treat entrepreneurship as “a game you want to win.”
* (39m05s) Founder to Watch: Caitlin Dolkart of Flare Emergency Response and Rescue.co
If you enjoyed this conversation about healthcare access at the last mile, check out our related interviews: Ikpeme Neto of WellaHealth and Femi Kuti of Reliance Health.
Key Quotes
“If you want to be the most global insurtech in the world, you have to have a play on Africa.”
“You need to see [entrepreneurship] as a game you want to win.”
“It’s not about becoming an insurance company. It’s about using technology to increase protection.”
Topics Discussed
* How embedded insurance could unlock access and protection in Africa
* How Bente navigated bolttech’s acquisition of mTek
* Why global investors and corporates are bullish on Africa
* Scaling insurtech businesses in African markets
* Founder leadership, resilience, and emotional stability
* Africa as a global growth opportunity
Connect with Africa Health Ventures
Africa Health Ventures invests in healthcare innovations that will dramatically improve access and quality of healthcare in Africa and around the world.
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