Kenya’s Insurtech Startup Pula Reaches 120,000 Ethiopian Farmers, Totaling One Billion Birr in Coverage

Executives at the Kenyan Insurtech provider Pula have announced the insurance coverage of over 120,000 Ethiopian farmers against climate disasters, totaling one billion birr (18 million dollars) in insured sums. 

“I am delighted to announce the launch of the Largest Crop Insurance in Ethiopia, with a total sum insured of ETB 1 Billion, protecting 122,000 teff and wheat farmers in the Amhara region,” wrote Dagmawi Haileyesus Pula Country Project Manager on LinkedIn.

Pula is a Kenya-based agricultural insurance and technology company specializing in innovative agricultural insurance and digital products designed to assist smallholder farmers. The first phase of its Area Yield Index (AYII) Insurance product for Ethiopian farmers was launched a few months ago.

The insurance product provided by Pula safeguards farmers’ investments, particularly in fertilizers, ensuring they have financial resources available to purchase essential agricultural supplies for the ne…

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Four Ethiopian Companies Selected for the 2023 BimaLab Africa Insurtech Accelerator Program

Four Ethiopian companies have been selected to participate in the 2023 cohort of the BimaLab Africa Insurtech Accelerator Program which aims to support promising insurance innovators and ventures in Africa.

Kacha Digital Financial Services, Orbit Health, Saglan Wajee General Hospital, and Kifiya Financial Technologies are the Ethiopian companies that made it to the program alongside 19 other African companies.

BimaLab Africa will run for five months and is designed to help insurtechs develop scalable solutions to reduce Africa’s large risk protection gap caused by external threats such as climate change, natural disasters, health risks, and economic disruptions. Additionally, the top...

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Kifiya Scales up Insurtech Product for Farmers

Kifiya Financial Technology, along with Oromia Insurance Company and Agriculture Transformation Insititute (ATI), have scaled up their micro-insurance product that protects farmers from shocks caused by drought.

The product, Vegetation Index Crop Insurance (VICI), first launched in 2016, extended its program for two more years after winning a 2-million euro co-funding grant from the InsuResilience Solutions Fund (ISF).

Scaling up the VICI project will provide micro-insurance to 50,000 smallholder farmers in Oromia and Southern National and Nationalities Regional (SNNP) States to enhance their climate resilience.

For many farmers, especially smallholder farmers in rainfed systems, their...

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