Jubilee Group and FSD Africa have partnered with seven insurtech companies to develop and test affordable insurance solutions for underserved Kenyans. The initiative will focus on SMEs, informal sector workers, farmers and low-income households, with joint pilots expected to begin in Kenya in November 2026.
Key Overview
- Seven insurtechs selected for the programme
- Eight-week product co-creation process
- November 2026 joint pilots
- Focus on SMEs, informal workers, farmers and low-income households
- Three priority areas: embedded insurance, SME solutions, and wellness
- Jubilee’s J-Hub will lead the initiative
Jubilee and FSD Africa Target Insurance Gap
Jubilee Group and FSD Africa are working with seven insurtech companies to develop and test affordable insurance products for Kenyans who have limited access to formal insurance.
The partnership targets small and medium-sized enterprises, informal sector workers, farmers and low-income households. The selected firms will go through an eight-week product co-creation process with Jubilee before joint pilots begin in Kenya in November 2026.
The initiative is designed to test new approaches to insurance distribution while providing protection for SMEs and connecting customers with health and wellness services. Solutions that prove successful could eventually be introduced in other East African markets.
Seven Insurtechs Join the Programme
The seven companies selected 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. The companies bring different technologies and business models to the programme, including digital insurance distribution, health engagement, fintech, climate-risk assessment and parametric insurance.
Their participation gives Jubilee an opportunity to test insurance products through technology platforms and customer networks that already serve specific underserved groups.
Focus on Affordable and Embedded Insurance
The programme 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.
This approach aims to move insurance closer to where customers already conduct their daily activities instead of relying solely on traditional insurance distribution channels.
For SMEs and informal workers, this could mean integrating protection into existing financial, business, health or digital services. For farmers, technology can also help develop products designed around specific agricultural and climate-related risks.
SMEs Remain a Major Target
The partnership comes against a significant insurance gap among businesses and households in the region.
East Africa has more than 10 million SMEs, which account for over 70% of jobs, while insurance penetration among the segment averages about 1%, according to KBC.
This leaves many businesses exposed to financial shocks. Illness, extreme weather and other unexpected events can quickly affect household livelihoods and business income when adequate insurance protection is unavailable.
By combining Jubilee’s insurance capabilities with the technology and specialised customer knowledge of the seven insurtechs, the programme aims to develop products that are more affordable and accessible.
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J-Hub to Lead Innovation
Jubilee’s innovation and technology arm, J-Hub, will lead the work. The unit focuses on developing, testing and deploying digital and AI-powered solutions across the business.
The partnership gives J-Hub a platform to work directly with emerging insurtechs and test their solutions in real market conditions.
FSD Africa’s Principal for Sustainable Insurance, Elias Omondi, said the challenge is not simply creating more insurance products but ensuring that products reach people who need them at prices they can afford and through channels they already use.
From Pilots to Regional Expansion
The initial pilots will take place in Kenya, but successful solutions could eventually be expanded into other East African markets.
That creates the potential for products developed through the programme to move beyond testing and into broader commercial deployment. The partnership also provides insurtechs with an established insurer through which their technologies and business models can be tested with customers.
For Jubilee, the programme supports its wider effort to expand its customer base and strengthen access to integrated financial services.
Outlook
The Jubilee-FSD Africa partnership highlights the growing role of insurtech in addressing insurance access gaps in Kenya. By combining an established insurer with seven technology companies, the programme is designed to test products that are more affordable, accessible and tailored to underserved customers.
The November pilots will be an important next step. Their results could determine which solutions are ready to scale and whether the models can eventually be introduced across other East African markets.
For Kenya’s underserved SMEs, informal workers, farmers and low-income households, the broader goal is to make insurance easier to access and more relevant to everyday financial risks.
FAQs
1. How many insurtechs are working with Jubilee and FSD Africa?
Seven insurtech companies have been selected for the programme.
2. When will the insurance pilots begin?
Joint pilots are scheduled to begin in Kenya in November 2026.
3. Who are the target customers?
The programme focuses on SMEs, informal sector workers, farmers and low-income households.
4. What areas will the insurtechs focus on?
The three priority areas are low-cost bundled and embedded insurance distribution, SME ecosystem solutions, and wellness and engagement models.
Sources: FSD Africa | KBC | Nyakundi Report
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