Welcome to our Q1 edition of the BimaLab Africa Quarterly Newsletter!
This issue shines a light on the groundbreaking strides made in Q1 of 2025 to advance innovative and inclusive insurance solutions across Africa. From empowering rural women through innovative microinsurance products to fostering collaboration at industry events, we’re excited to share stories of resilience, innovation, and impact. Dive in to explore programme highlights, event recaps, new solutions and opportunities shaping the future of insurtech on the continent.
Abwezi Rural Health Insurance, by Microinsurance services, Malawi.
SOLUTION
Abwenzi Rural Health Insurance is a game-changing microinsurance product tailored for rural women. For just $7 annually, it offers:
Hospitalisation cover: Cash payouts for hospital stays, with no restrictions on fund usage.
Maternity & accidental disability support: Financial protection during childbirth or permanent disability.
Outpatient & funeral coverage: Support for minor treatments and funeral expenses.
SMS-a-doc: Free 24/7 medical consultations via SMS.
Flexible payments: Premiums can be paid in installments aligned with farmers’ harvest cycles.
IMPACT
Over 20,000 women registered to the product since 2024. Microinsurance Services Malawi also offers weather index insurance for women farmers, safeguarding against climate risks.
Hulu Cares attends 2025 Microinsurance Master Programme
HuluCares, who emerged among the top five insurtechs in the 2024 BimaLab Africa programme, received a scholarship to join the 2025 cohort of the Global Microinsurance Master Programme held in Nairobi.
The programme provided Hulu Cares with hands-on learning for developing microinsurance solutions, guiding them in validating their offerings through real market and customer feedback, peer reviews, and engagements with global insurance experts.
This opportunity was instrumental in helping HuluCares refine their community health product strategy and explore potential partners for an expansion to Nairobi. In addition, HuluCares clinched third place at the recently concluded Great Rift Valley Innovation Summit in Ethiopia, securing a cash award of USD 75,000. This accomplishment underscores the high caliber of insurtechs and innovations emerging from the BimaLab Africa programme.
Pictured: (Left) Agnes Kanjala, Nuru Solutions and Adelaide Odhiambo (Right), BlueWave Insurance Agency who both participated in the investor readiness programme
Gender - focused investor readiness programme
Supported by the FSD Network, 15 insurtech startups from the 2024 cohort – that were either female-founded or dedicated to crafting solutions for women - participated in an intensive three-month investor readiness programme delivered by Seedstars. Designed to empower these women-focused ventures, the program equipped them with practical tools and resources to confidently navigate the fundraising landscape.
Throughout the programme, each startup has received personalised, one-on-one guidance from experienced investor mentors, who not only provided strategic advice but also opened doors to valuable investor networks. The initiative will culminate in an exciting demo day, where the selected insurtechs will pitch their innovative solutions to a panel of pre-selected mentors and seasoned investors, setting the stage for transformative investment opportunities.
By integrating innovative healthcare delivery with groundbreaking insurance solutions, Saglan Wajee Hospital is pioneering a transformation in Ethiopia’s healthcare insurance landscape. Confronted with issues like limited access to quality care, high out-of-pocket expenses, and traditional insurance models that often fail to meet patients' needs, Saglan Wajee Hospital developed the Efoy 2.0 health insurance product.
We spotlight how Kacha has developed a robust digital platform that bridges the gap between traditional banking systems and the vast underserved populations across the continent. By leveraging mobile technology and innovative digital tools, Kacha has enabled individuals and small businesses to access essential financial services - ranging from everyday transactions and payments to savings and micro-lending - that were once out of reach.
2025 Bimalab Africa Insurtech Accelerator - NOW OPEN!
Africa
BimaLab Africa is on a mission to empower startups that are creating scalable insurtech solutions for vulnerable communities in Africa. As climate change, natural disasters, economic and health shocks intensify, bridging the protection gap has never been more urgent.
We’re looking for bold, game-changing African Insuretech entrepreneurs across all stages of growth with a vision to shape the future of resilience in Africa. If you’re ready to scale, connect and transform, apply now!
If you're ready to make an impact and drive change in the insurtech landscape or know any suitable insurtechs invite them to, apply for the 2025 cohort NOW!
For more details and application, visit our webpage HERE >>>
BimaLab Insurtechs showcase sustainable solutions at TIRA workshop
Tanzania
In partnership with TIRA, FSD Africa delivered a workshop aimed at engaging the insurance industry players in Tanzania on sustainable insurance. We were honored to have Dorice Malle CEO, Bima Kwik and Eng.Allen Kimambo CEO, Zaidi App representing BimaLab Africa at the event. Both insurtechs had the opportunity to showcase the sustainable insurtech products that they are developing and delivered a pitch for partnership opportunities with the Tanzania insurance players
Industry innovation forum and BimaLab Nigeria roundtable
Nigeria
In partnership with NAICOM, FSD Africa participated in the Nigeria Insurance Industry Innovation Forum in Lagos, bringing together key industry players to drive innovation and expand insurance coverage for the uninsured and underinsured. The forum provided a platform for insurance companies and BimaLab insurtechs in Nigeria like SosoCare, WellaHealth, Riwe Technologies and SL Financialto showcase their solutions and explore strategies for delivering more inclusive insurance services. Read more >>>
FSD Network learning conference
Kenya
At the FSD Network Learning Conference, we were honoured to have Erick Oyugi from Malipo Circles represent BimaLab on the panel themed Designing for Women. Erick shared insights on how Malipo continuously refines its solutions based on the needs of female customers, particularly those in savings groups. By prioritising user-driven design, Malipo is working toward creating an optimal product that empowers women within savings groups and on the Malipo platform. Their digital financial solutions enhance transparency and governance in Chama groups, ensuring greater financial inclusion.
(Right): Erick Oyugi, CEO Malipo Circles participating on the designing for women panel at the FSD Network Conference
PICTORIALS
BimaLab Africa meeting with Insurance Regulatory Authority, Kenya.
BimaLab Africa insurtechs at the sidelines of the Africa tech summit in Nairobi, Kenya.
📥 WEBINAR RECAP
Bridging data gaps and maximising data value: Unlocking opportunities for Insurtechs
In February, we hosted an interactive webinar on bridging data gaps in Africa’s insurance sector, bringing together BimaLab insurtechs, regulators, and insurance companies to explore solutions for improving data accessibility and utilisation.
KEY TAKEAWAYS
🔹 Data fuels Innovation: Reliable data is essential for insurtechs to develop accurate risk assessments, dynamic pricing models, and personalised insurance products.
🔹 Data availability challenges: A lack of comprehensive data and reluctance from traditional insurers to share information limits innovation in the sector.
🔹 Need for a centralised data repository: A shared, open-source data hub could enhance access to quality data, supporting better decision-making and innovation.
🔹 API integration is key: Ensuring seamless data sharing across platforms through APIs will promote collaboration and efficiency in the insurtech ecosystem.
🔹 Collaboration is crucial: Building a sustainable data repository requires joint efforts from insurers, regulators, insurtechs, and data providers.
Event: Africa Sustainable Insurance Summit
2nd - 4th April | Accra, Ghana
The summit will bring together insurance leaders, regulators and insurtechs to showcase emerging themes in sustainable insurance. The BimaLab Africa team will be hosting an innovation for resilience segment at the summit where we will feature a showcase by LBH Farm and Ibisa Network, both BimaLab alumni developing innovative and sustainable insurance solutions.
This webinar will present the latest findings from BimaLab’s Insurtech Scoping Study, developed in partnership with Rift Partners, offering data-driven insights into the evolving Insurtech landscape in Africa and emerging investment trends. With contributions from key insurance stakeholders across Africa, the discussion will highlight findings from BimaLab Africa insurtechs, funding gaps and opportunities for fundraising and investment in Africa’s insurtech sector including a highlight of the structure of the upcoming BimaLab Africa Investment Facility.
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