New financial services provider, Futurewise, pioneers education inclusion

New financial services provider, Futurewise, pioneers education inclusion

Kagiso Tiso Holdings (KTH) announced the launch of a disruptive, digital-first education financial services provider, Futurewise.

school kids hands up

Futurewise is a Black-owned and controlled specialist financial services provider – a first in the South African financial sector, which aims to drive inclusion and educational attainment for the South African youth. 

The business goes to market with its first offering, a unique and differentiated education insurance offering, comprising three key pillars: 

● payment of tuition fees and or other costs such as uniforms, books, and travel (amongst others) in the event of a parent or guardian passing away, 

● an education investment fund to assist parents with saving for their children's tertiary education, powered by Nedbank Corporate and Investment Banking and

● a market-first learning hub that provides content and products to support learners and that can be accessed from the inception of a policy - offering discounts for educational products and tutoring services amongst others..

The business is underpinned by a proprietary technology platform that delivers an omnichannel experience for our customers to engage with them on their preferred device and medium. 

The company has also secured a number of high-profile education and retail partners such as HP, CodeSource and Skillshare,  to form part of the learning ecosystem that is made available exclusively to all its customers. 

"The Learning Hub provides learners with access to education courses, tutoring support, and partner discounts from our education partners made available exclusively and for free to our policyholders," says Arno Jansen van Vuuren, Chief Operations and Technology Officer at Futurewise.  

"This means that our customers get meaningful value for their premium they pay from day one – not only in the event of a death. Internally we talk about creating a product for life, not just for death. That is our purpose."

The Futurewise education insurance offering has been designed as an annuity product that pays schools and higher education institutions directly every year to ensure that tuition fees are taken care of until the child reaches the age of 22.

"We are driven by impact and we believe that education is a key tool that will ensure the future success of South Africa. I believe that this digital educational insurance solution provides a compelling value proposition that addresses a critical need in the South African market. I have personally secured the future of my kids by signing up for a policy," says Paballo Makosholo, Group CEO of KTH and Chairman of Futurewise. 

The company is committed to creating an enabling environment that lets children stay in school, complete their education, and become equipped with the skills they need to get employment in the future.

 Futurewise brings together the best of fintech and edtech to deliver maximum benefit to parents and guardians. It is built on the understanding that equipping learners with the means to complete their schooling ensures a healthy workforce that will play an integral role in South Africa’s economic growth, well into the future. 

"Venture Capitalworks (VCW) is proud to be a founding partner with KTH in Futurewise. The Futurewise purpose resonates with us and is fully aligned with our vision as a Group of making an impact. As VCW, we have successfully funded and incubated disruptive insurance operators having launched the first direct life insurer in South Africa.

"The vision for the business resonates, the partnership with KTH is complimentary, the commercial opportunity is exciting and we are able to leverage our experience in the insurance space, so this co-investment in Futurewise made perfect sense," says Brent Shahim, CEO of Venture Capitalworks

"We are excited to bring this innovative educational insurance service to South Africans that have been seeking to secure the future of their children,” concludes Makosholo.

Kagiso Media (KM) was established in 1997 by Kagiso Trust Investments. Kagiso Media is a successful black controlled and managed company, wholly owned by KTH. KM's interests include controlling investments in East Coast RadioJacaranda FMMediamarkUrban Brew StudiosJuta, and Future Managers.

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