South African insurtech startup OneSpark, which says it is providing tech-based insurance products for the main market, has launched operations and secured a “significant” US dollar funding round to help it quickly scale.

Launched last month, OneSpark is a tech-based, socially responsible insurer that claims to be offering world-first products that provide better protection for a lower premium.

The startup has developed proprietary tech across the business, while leveraging off a number of established SaaS companies to optimise processes. While its current suite of products is relatively “tech light”, its upcoming product launch in February will contain multiple innovations from a tech, AI and machine learning perspective.