Naked Launches Pet Insurance with Claims Paid in Minutes

In Short

Naked has launched pet insurance for cats and dogs in South Africa.

The product is available in the Naked app and includes multiple cover options.

Naked says early data shows some claims are paid in as little as 12 minutes.

What Happened: How Naked Added Pet Insurance In Its App

Naked is a South African insurtech startup that lets customers manage their insurance in an app. The company launched in 2018, founded by actuaries Alex Thomson, Sumarie Greybe, and Ernest North.

The new pet insurance product offers accident-only, accident-and-illness, and comprehensive cover. The comprehensive option includes physiotherapy and routine care.

Customers can choose an annual limit and select their own excess (the amount you pay before insurance pays the rest). They can use any registered vet in South Africa.

Naked says covered treatments are not subject to separate treatment-specific sub-limits.

Naked uses AI and automation to automatically approve eligible claims, including outside office hours. More complex claims are referred to its team for review.

Based on early data, Naked reports a median payout time of 1.3 days. It says 60 per cent of claims are paid within 48 hours, and the fastest claim was paid in 12 minutes.

Sumarie Greybe, co-founder of Naked, said: “When a pet needs emergency treatment, you’re already worried about what might be wrong and whether they’ll recover. The last thing you want to worry about is how you’ll pay the vet bill or how long you’ll have to wait to get your money back.”

Why It Matters

Pet insurance adds a new product line to Naked’s digital insurance platform, which already offers cover for cars, homes, contents, and standalone items.

The company is positioning fast claims payout as part of the product, using AI to approve eligible claims and pass more complex cases to a human review process.

Naked also highlights speed in other parts of its app-based flow, saying customers can get a final insurance quote in less than 90 seconds and can switch or pause cover online without speaking to a contact centre agent.