Jubilee partners with seven insurtechs to expand insurance access

The partnership will involve an eight-week product co-creation programme, after which the companies and Jubilee will begin joint pilots in Kenya in November 2026.

The initiative will test new approaches to distributing low-cost insurance, providing protection for small and medium-sized enterprises (SMEs), and linking customers to health and wellness services.

The participating companies are Dukatech Solutions, Aura Insure Technologies, Inclusivity Solutions, DPE, Fiinovate, Agrails and Ibisa Network. They were selected through a competitive process from the BimaLab Africa Insurtech Accelerator alumni network.

Jubilee Deputy Group CEO Juan Cazcarra said the partnership would help the insurer test products and distribution models aimed at customers with limited access to formal insurance.

“There is a large group of Kenyans who work, earn and run businesses every day but still have little or no insurance coverage. We need to meet people where they are, with products that are affordable, relevant and simple to access,” Cazcarra said.

The programme will focus on three areas: low-cost bundled and embedded insurance, insurance solutions for SME ecosystems, and models that link insurance customers to health and care services.

East Africa has more than 10 million SMEs, which account for more than 70 per cent of jobs, while insurance penetration among the segment is estimated at about one per cent.

The low level of coverage leaves businesses and households vulnerable to financial losses arising from illness, extreme weather and other unexpected shocks.

FSD Africa Principal for Sustainable Insurance Elias Omondi said the programme would focus on improving how insurance products reach customers, rather than simply increasing the number of products available.

“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,” Omondi said.

Jubilee will lead the programme through J-Hub, its innovation and technology arm, which develops and tests digital solutions for the Group.

The seven companies will bring different technologies and distribution models to the pilots. Dukatech will explore embedded insurance through its network serving informal-sector workers and other underserved groups, while Aura Insure Technologies will test digital underwriting and distribution tools for SMEs.

Inclusivity Solutions will work on embedded insurance models, while Kenyan health platform DPE will contribute to health engagement and access to information through digital channels.

Fiinovate will explore credit-linked insurance products for SMEs and borrowers, while Agrails will focus on climate-related protection using climate data and parametric insurance models. Ibisa Network will explore parametric insurance for farmers and renewable energy operators, including protection against extreme weather.

The initiative is part of FSD Africa's BimaLab Africa programme, which supports insurtech companies developing insurance solutions for underserved markets.

FSD Africa says BimaLab has supported 135 startups across 28 African countries over the past six years, contributing to the development of more than 300 insurance solutions.