Sugar Insure wrote an article to promote its financially inclusive insurance targeted at informal homes, in the wake of the latest flooding disaster during April 2022. The founder says he was confronted with the reality that only the “formal” housing system appeared deserving of insurance cover, excluding millions of homes located in the townships, rural villages and informal settlements. This led to the development of a short-term insurance solution that provides affordable, practical means to insure informal homes and their contents. Sugar Insure’s products include Level Up for shacks and Legacy for township and rural village homes, which provide cover for theft of contents, fire damage and weather risks.
