Jubilee Group and FSD Africa’s BimaLab accelerator have partnered to bring together seven insurtech companies to develop affordable insurance products for small businesses, informal workers, farmers, and low-income households in Kenya. The eight-week product co-creation phase will focus on digital insurance distribution, protection for small-business ecosystems, and services linking insurance with health and wellness. This initiative aims to address the significant insurance gap in Kenya, where many individuals and businesses remain largely uninsured.
The seven selected insurtech firms are Dukatech Solutions, Aura Insure Technologies, Inclusivity Solutions, DPE, Fiinovate, Agrails, and Ibisa Network. These firms were chosen through a competitive process involving alumni of the BimaLab Africa Insurtech Accelerator. Each insurtech will contribute distinct capabilities, ranging from Dukatech’s bundled insurance via its Shopokoa platform for informal workers to Aura’s SaaS underwriting tools and Ibisa’s satellite-driven parametric products for farmers and renewable energy operators.
Jubilee’s deputy group chief executive officer, Juan Cazcarra, highlighted the large segment of Kenyans who work and run businesses yet remain largely uninsured. He stressed the need for affordable, relevant, and simple products. The programme will explore three workstreams: low-cost bundled and embedded insurance distribution, insurance solutions for small-business ecosystems, and wellness models that connect customers to health and care services.
The initiative targets a significant coverage gap, where small and medium-size enterprises account for over 70% of jobs in East Africa, yet insurance penetration among them averages about 1%. This leaves many vulnerable to illness, extreme weather, and other shocks. FSD Africa’s BimaLab programme has supported 135 startups across 28 African countries and helped develop more than 300 insurance solutions reaching over 6.5 million underserved customers.
The joint pilots are set to commence in November 2026 after the eight-week co-creation phase, providing a testbed for the proposed products and distribution channels. Successful offerings could be rolled out in other East African markets as Jubilee seeks to broaden its customer base and integrated financial-services business. This partnership between Jubilee Group and FSD Africa’s BimaLab accelerator aims to move innovators from product development into commercial markets.
The programme’s focus on digital insurance distribution, protection for small-business ecosystems, and services linking insurance with health and wellness is expected to bring innovative solutions to the Kenyan market. With the involvement of seven insurtech firms, each bringing unique capabilities, the initiative is poised to make a significant impact in addressing the insurance gap in Kenya.
As the insurance industry continues to evolve, partnerships like this one between Jubilee Group and FSD Africa’s BimaLab accelerator will be crucial in driving innovation and increasing access to affordable insurance products for underserved populations. The upcoming pilot launch in November 2026 will be a critical milestone in the programme’s success.
Key points
- Seven insurtech firms have been selected to develop affordable insurance products for Kenya’s small businesses and low-income markets.
- The programme aims to address the significant insurance gap in Kenya, where many individuals and businesses remain largely uninsured.
- The joint pilots are set to commence in November 2026, providing a testbed for the proposed products and distribution channels.
