Jubilee Group and FSD Africa have partnered with seven insurtech companies to develop and test affordable insurance products targeting underserved Kenyans. These include SMEs, informal workers, farmers and low-income households.
Jubilee Group Deputy Group CEO Juan Cazcarra said, “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.”
The partnership will see Dukatech Solutions, Aura Insure Technologies, Inclusivity Solutions, DPE, Fiinovate, Agrails and Ibisa Network work with Jubilee through an eight-week product co-creation programme ahead of joint pilots in Kenya starting in November 2026.
The initiative will explore new approaches to distributing low-cost insurance, protecting SMEs and connecting customers to health and wellness services.
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.”
The companies were selected from the BimaLab Africa Insurtech Accelerator alumni network. Their work will focus on three areas that include bundled and embedded insurance, solutions for SME ecosystems and wellness models that connect customers to health and care services.
East Africa has more than 10 million SMEs that account for over 70% of jobs. Even with this, insurance penetration among the segment is estimated at just 1%. Jubilee and FSD Africa say the initiative aims to address barriers that leave businesses and households vulnerable to financial shocks caused by illness, extreme weather and other disruptions.
“We need to meet people where they are, with products that are affordable, relevant and simple to access,” said Juan Cazcarra, Deputy Group CEO at Jubilee Group.
The initiative will be led by J-Hub, Jubilee’s innovation and technology arm, which develops and tests digital and AI-powered solutions. Successful pilots could eventually be expanded to other East African markets.
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