Jubilee Group and FSD Africa have partnered with seven insurtech companies to develop and test 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.
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 10 million 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.
The seven companies were selected through a competitive process from the BimaLab Africa Insurtech Accelerator alumni network.
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.
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.
