3IF Ventures, the first venture capital fund dedicated exclusively to Africa’s insurance technology ecosystem, has secured a $12 million first close, drawing support from FSD Africa Investments and regional reinsurer ZEP-RE as cornerstone investors.
The fund aims to address...
The vehicle insurance industry in the UAE is going through a noticeable shift. What was a process with many requirements like paperwork, office visits, and long waiting times has become easier and faster now due to digital platforms that...
NCBA Insurance, a subsidiary of NCBA Group formed after the acquisition of AIG Kenya, covers individuals, families, properties and businesses against a wide range of risks. After the acquisition and integration into NCBA Insurance, the arm has strengthened underwriting,...
NCBA Group is reinforcing its commitment to long-term financial stability with the "Insurance 101," a strategic initiative designed to demystify risk management for its clients.
Under the bank’s dedicated Insurance & Risk pillar, this program aims to change the perception...
Safaricom in November last year announced it had acquired an insurance license from the insurance regulator Insurance Regulatory Authority after a four year wait.
This development marked Safaricom's entry and expansion into a new market segment riddled with inefficiencies...
"Insurance is both a safety net and a financial enabler," said Samuel Odhiambo, Mananging Director NCBA Bancassurance Intermediary Ltd, speaking during the episode of Financial Clinic, hosted by Sally Limo on Family TV. "Insurance goes beyond being a product—it's...
World Bank's DRIVE Project, an Index-Based Livestock Insurance (IBLI) scheme, launched last year in collaboration with financial institutions including Salaam Somali Bank (SSB) and ZEP-RE, has provided insurance and transaction/savings accounts to over 130,000 Somali pastoralists.
Launched to help Somali pastoralists recover...
NCBA Group has unveiled NCBA Insurance, its new insurance subsidiary after completing system migration and integration of AIG Kenya which it acquired in July 2024.
NCBA Insurance Company, joins NCBA’s six other subsidiaries and will leverage on the strengths...
Sophos, a provider of innovative security solutions designed to neutralise cyberattacks, has released a new independent study to quantify the financial impact of various cyber security controls on cyber insurance claims.
The study reveals the different impact that endpoint solutions,...
M-KOPA and Turaco, an insurtech in Africa have announced plans to launch the Hospital Cash insurance cover in Ghana after reaching over 1 million Kenyans in just one year after launch.
The health insurance dubbed Hospital Cash comes built into...
Bayer Foundation and the Pula Foundation have partnered to provide insurance coverage for 10 million smallholder farmers by 2030.
The two aims to enhance climate resilience among smallholder farmers, protecting them against the growing impacts of droughts and floods,...
Naked, a South African insurtech firm has secured $38 million (about R700 million) in its latest funding round to redefine insurance through tech.
Naked's Series B2 funding round was joined by global impact investor BlueOrchard, with pariticipation from existing backers...
Safaricom, Kenya's leading telco, is making a bold move into the insurance industry after securing a license from the Insurance Regulatory Authority (IRA) to offer insurance products. This development marks a significant step for Safaricom as it expands its...
AXIAN Group has acquired a stake in WiASSUR, an insurance start-up based in Côte d'Ivoire. This marks a key milestone for AXIAN Group's expansion strategy in this sector.
This acquisition, closed mid-July 2024, positions AXIAN as WiASSUR's second-largest shareholder. The...
In a significant step toward enhancing safety for electric vehicle operators, GA Insurance Ltd, ARC Ride, and M-TIBA have teamed up to launch ‘SwapCare,’ a personal accident insurance plan specifically designed for electric motorcycle riders who utilize e-battery swap...
M-TIBA ,a health insurance technology platform is revolutionzing the health insurance landscape with its digital connectivity and real-time data analytics .
M-TIBA’s platform offers real-time insights that enable insurers to significantly reduce costs, detect unusual behaviors, and manage risks more effectively. It streamlines operations,...
Autochek Kenya, an auto marketplace has partnered with Turaco, a tech-enabled insurance solutions provier to offer Autocheck's clients comprehensive motor insurance with flexible monthly payments, making the insurance cost for car owners in Kenya significantly more attainable.
The car financing...
mTek, a leading Kenya-based digital insurance platform renowned for its seamless and convenient access to insurance products, has partnered with UzaPoint to enable Small and Medium Enterprises (SMEs) to access fully digital insurance products.
This partnership will empower UzaPoint to...
Prudential and Google Cloud have announced an expanded strategic partnership to build innovative AI-powered products and applications that will help enhance customer, agent and employee experiences.
In the deal, Google Cloud will support Prudential’s new AI Lab, to solve...
NCBA Group has acquired 100% of insurance firm AIG Kenya in a move to further strengthening its position in the financial services industry.
In a statement, NCBA’s Group Managing Director, John Gachora, said; “We are excited to welcome AIG Kenya...
IBISA, a Climate Insurtech company, has closed a $3 million funding round to scale its parametric insurance solutions for weather-related risks in Asia and Africa.
The round was led by The Acumen Resilient Agriculture Fund (ARAF) and Equator, alongside...
M-KOPA, a Kenyan-based African fintech company, has been named on the Financial Times (FT) “Africa’s Fastest Growing Companies 2024” list, for its affordable digital financial services.
Now on the FT’s rankings three years in a row, M-KOPA was vetted...
Pula, a Kenyan insurtech company, has raised $20 million in Series B funding to expand its mission of providing smallholder farmers across Africa with access to affordable insurance.
Led by global investment manager BlueOrchard, the funding round also saw participation...
Pula, a Kenyan-based Agritech startup has secured a $20 Million Series B funding round to provide climate-resilient insurance solutions to thousands of smallholder farmers across emerging markets.
The Series B round was led by BlueOrchard, a global impact investment firm focused on...
M-TIBA, a leading health insurance technology platform, has integrated Artificial Intelligence (AI), into its insurance claims processing system, drastically reducing claim approval times to just hours. The implementation of AI technology, and in particular Machine Learning (ML) models, enhances...
Britam General Insurance has launched a comprehensive,mileage-based telematics motor insurance cover, dubbed Motomatics, in partnership with AiCareTelematics Ltd, that enables consumers to pay less premiums, if they drive less than 10,000 km per year, and drive well.
Tom Gitogo, Britam Group...
Bolt, the popular ride-hailing platform, is prioritizing rider and driver safety with the upcoming launch of its Entrip insurance package.
This initiative, announced by Bolt Kenya Country Manager Linda Ndung'u, aims to provide additional coverage in case of unforeseen...
The government intends to invest Sh5 billion in creating a unified digital platform for handling medical insurance claims within the mandatory social health plan.
According to the Ministry of Health (MoH), the proposed Centralised Healthcare Provider Management System (CHPMS) outlined...
Old Mutual Limited today announced the sale of its full stake in UAP Insurance Tanzania, its short-term insurance business to a group within its current Minority Shareholding, pending regulatory approval. This decision follows a thorough strategic review of the businesses relative...
AIICO Insurance Plc has invested in InfraCredit, a leading infrastructure credit guarantee institution, acquiring a 5% stake in InfraCredit’s total share capital.
This move, the second private domestic institutional investment alongside Leadway Assurance Plc, boosts InfraCredit’s paid-in capital to $175.14...