Jubilee Group and FSD Africa have joined forces with seven insurtech firms to create low-cost insurance products for Kenyan customers who currently have limited access to formal cover.
The collaboration will begin with an eight-week product co-creation phase led by Jubilee, after which joint pilot schemes are scheduled to start in Kenya in November 2026.
The participating startups are Dukatech Solutions, Aura Insure Technologies, Inclusivity Solutions, DPE, Fiinovate, Agrails and Ibisa Network, each tasked with a specific area such as bundled distribution, digital underwriting, health engagement, credit-linked cover, climate intelligence or satellite-based parametric protection.
Deputy Group CEO Juan Cazcarra said the partnership offers a practical way to trial diverse products and distribution models and to learn which approaches succeed, adding that many Kenyans work and run businesses yet remain largely uninsured and need simple, affordable options.
Elias Omondi, principal for sustainable insurance at FSD Africa, stressed that expanding coverage requires more than new policies, emphasizing the need for affordable solutions delivered through channels that customers already use and noting Kenya’s strong market for testing inclusive insurance ideas.
Insurance penetration among small and medium-sized enterprises in East Africa is roughly one per cent, despite the region’s more than 10 million SMEs accounting for over 70 per cent of jobs, leaving many vulnerable to illness, extreme weather or other shocks.
Jubilee’s earlier collaboration with bolttech to embed health cover into digital platforms used by banks, retailers and other services provides a technological backdrop for the new programme, with APIs supporting onboarding, policy administration, premium collection and claims processing.
Industry observers note that insurers are under pressure to improve efficiency, curb fraud and reduce distribution costs, and are increasingly turning to artificial intelligence and other digital tools to achieve measurable gains.
Climate-related risk is addressed through Agrails’ climate intelligence and parametric technology and Ibisa Network’s use of satellite data and AI analytics to design trigger-based payouts for farmers and renewable-energy operators.
The pilots will be coordinated through J-Hub, Jubilee’s innovation and technology unit, and successful solutions could be rolled out to other East African markets in the future.
