Nairobi-headquartered financial services group Jubilee and FSD Africa have partnered with seven InsurTech companies to develop affordable insurance solutions for underserved Kenyans, targeting small and medium-sized enterprises (SMEs), informal sector workers, farmers and low-income households that have limited access to formal insurance.
The seven firms – Dukatech Solutions, Aura Insure Technologies, Inclusivity Solutions, DPE, Fiinovate, Agrails and Ibisa Network – will work with Jubilee through an eight-week product co-creation process before joint pilots begin in Kenya in November 2026, according to a statement released by FSD Africa.
The partnership will test new ways to distribute affordable insurance, provide protection for SMEs and connect customers to health and wellness services. Successful solutions could later be introduced in other East African markets as Jubilee works to expand its customer base and access to its integrated financial services offering.
East Africa is estimated to have more than 10m SMEs, which account for over 70% of jobs, yet insurance penetration among the segment averages about 1%. For many small businesses and households, illness, extreme weather or another financial shock can quickly affect livelihoods and business income.
Jubilee Group Deputy Group CEO Juan Cazcarra said, “Working with these seven InsurTechs gives us a practical way to test different products and distribution models with customers and learn what works. We can then take the strongest solutions to scale as we grow our customer base and bring more people into formal insurance.”
The seven companies were selected through a competitive process from the BimaLab Africa InsurTech Accelerator alumni network.
Priority areas
Their work with Jubilee will focus on three priority areas: low-cost bundled and embedded insurance distribution; insurance solutions for SME ecosystems; and wellness and engagement models that connect customers to health and care services.
Mr Elias Omondi, Principal, Sustainable Insurance at FSD Africa, said, “The challenge is not simply creating more insurance products. It is making sure those products reach people who need them, at a price they can afford and through channels they already use. Kenya provides a strong market for testing new approaches to inclusive insurance. By bringing established insurers together with InsurTechs that understand technology, distribution and specific customer needs, BimaLab can help move promising ideas from development into real markets.”
At Jubilee, the work will be led through J-Hub, the Group’s innovation and technology arm, which focuses on developing, testing and deploying digital and AI-powered solutions across the business.
InsurTechs
The seven selected companies bring different technologies, customer networks and insurance models to the programme:
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Dukatech Solutions, through its Shopokoa platform, is a Nairobi-based social protection platform serving waste pickers, refugees and informal sector workers with curated food and shopping baskets. It will test bundled and embedded insurance distribution through its existing customer and merchant network.
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Aura Insure Technologies is a Dubai-based InsurTech expanding into Africa with software-as-a-service underwriting and distribution tools for SMEs. Its APIs allow insurers and partners to quote, underwrite, onboard, issue, service and renew insurance covers digitally.
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Inclusivity Solutions, headquartered in Cape Town and operating in more than 10 African countries, designs embedded insurance for emerging consumers. Its open API platform, ASPin, supports sales, policy administration, premium collection and claims.
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DPE is a Kenyan health engagement platform that helps health systems reach households through SMS, WhatsApp and voice channels. Its Interch™ platform has supported access to trusted health information for more than 300,000 households and will contribute to Jubilee’s wellness and engagement workstream.
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Fiinovate is a Kenyan FinTech developing credit-linked insurance solutions through its FinHub and Fin Shield platforms. It will explore protection products that strengthen financial resilience for SMEs and borrowers.
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Agrails is a Kenyan generative AI and parametric platform operating in more than three African countries. It uses climate data analysis, reporting and verification to improve climate-risk assessment and will explore embedded protection models linked to climate intelligence.
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Ibisa Network, headquartered in Luxembourg and operating across Africa, develops parametric insurance products for farmers and renewable energy operators. It uses satellite data and AI-driven analytics to support automated payouts following extreme weather events.
About Bimalab
BimaLab Africa, an initiative of FSD Africa, is an InsurTech accelerator innovating insurance to build resilience for Africa’s underserved. Over the past six years, BimaLab has supported 135 startups across 28 African countries to develop more than 300 insurance solutions, now reaching over 6.5m underserved customers.
About FSD Africa
Supported by the UK Government alongside philanthropic and development partners, FSD Africa is a specialist development agency working with governments, regulators, and financial institutions across 30 countries to strengthen markets, shape policy, and mobilise capital into opportunities supporting growth, climate resilience, the clean energy transition, and nature-positive development.