InsurTech Startups in Africa
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InsurTech in West Africa is gaining traction, but penetration remains low. Hollard, Alexander Forbes, and RelianceHMO are leading the way with digital platforms and innovative products. However, infrastructure challenges and low insurance awareness hinder widespread adoption. Local business leaders see potential but emphasize the need for education and regulatory support to unlock the full potential of InsurTech.
Cummulative Funding
$804.7M+
Total # of Companies
54
Total Deal Count
115
Total M&A Count
1
Total # of Investors
215
List of InsurTech startups in Africa
Add Startup| Startuparrow_upward | Overviewarrow_upward | Last roundarrow_upward | Total raisedarrow_upward | Founded |
|---|---|---|---|---|
Hollard Insurance is an insurance agency selling house, car, business and funeral insurance. | Corporate | $ 327,000,000 | 1980 | |
Reliance HMO provides Health Insurance in Nigeria for You, Family & Business. | Series B | $ 46,000,000 | 2017 | |
Turaco provides Insurance for tomorrow's emerging markets. | Series A | $ 13,300,000 | 2008 | |
MicroEnsure is a specialist provider of insurance to the mass market with more than 42 million customers in markets across Africa, Asia and the Caribbean. | Venture | $ 10,400,000 | 2005 | |
Pula uses insurance and digital products to help smallholder farmers endure climate risks, and improve their farming practices. | Grant | $ 8,200,000 | 2014 | |
Pineapple is a peer-to-peer decentralized insurer based in South Africa that gives its members fully indemnified insurance coverage | Non-equity Assistance | $ 6,936,629 | 2017 | |
Lami is a Kenyan InsurTech platform that enables companies across sectors to offer insurance products. | Seed | $ 5,610,000 | 2018 | |
Inclusivity Solutions builds digital insurance solutions that address the protection gap in emerging markets. | Series A | $ 4,957,076 | 2015 | |
Root is an end-to-end digital insurance platform that enables you to launch new products and digital engagement channels fast. | Venture | $ 4,500,000 | 2016 | |
Casava aims to make insurance affordable for income earners by leveraging technology. | Pre-seed | $ 4,200,000 | 2019 | |
Curacel is an AI-powered platform for claims processing and fraud management in Africa | Seed | $ 3,450,000 | 2017 | |
Amenli is an Egyptian licensed online insurance brokerage startup. | Seed | $ 3,425,000 | 2020 | |
mTek is an InsurTech platform that provides paperless ecosystem for the insurance industry. | Seed | $ 3,000,000 | 2019 | |
Baloon is a digital insurance broker in Africa | Venture | $ 2,100,000 | 2017 | |
Hepstar is a global leader in personalised travel ancillary and insurance product merchandising. | Seed | $ 2,000,000 | 2013 | |
OKO is Malian InsurTech that provides index insurance services to smallholder farmers | Seed | $ 1,963,200 | 2017 | |
Kopano is delivering insurance to emerging markets by providing embedded digital solutions to our partners | Funding Round | $ 1,700,000 | 2016 | |
ETAP is a car insurance app that makes buying and claiming on car insurance easy | Pre-seed | $ 1,500,000 | 2021 | |
MyCover.ai is democratizing access to insurance in Africa with open insurance API. | Pre-seed | $ 1,300,000 | 2021 | |
Nice Deer is an InsurTech company that has developed an integrated digital ecosystem for the healthcare industry in Egypt. | Pre-seed | $ 1,000,000 | 2022 |
Founded
1980
Overview
Hollard Insurance is an insurance agency selling house, car, business and funeral insurance.
Last round
Corporate
Total raised
$ 327,000,000
Employee
1001-5000
Founded
2017
Overview
Reliance HMO provides Health Insurance in Nigeria for You, Family & Business.
Last round
Series B
Total raised
$ 46,000,000
Employee
51-200
Founded
2008
Overview
Turaco provides Insurance for tomorrow's emerging markets.
Last round
Series A
Total raised
$ 13,300,000
Employee
11-50
Founded
2005
Overview
MicroEnsure is a specialist provider of insurance to the mass market with more than 42 million customers in markets across Africa, Asia and the Caribbean.
Last round
Venture
Total raised
$ 10,400,000
Employee
51-100
Founded
2014
Overview
Pula uses insurance and digital products to help smallholder farmers endure climate risks, and improve their farming practices.
Last round
Grant
Total raised
$ 8,200,000
Employee
11-50
Founded
2017
Overview
Pineapple is a peer-to-peer decentralized insurer based in South Africa that gives its members fully indemnified insurance coverage
Last round
Non-equity Assistance
Total raised
$ 6,936,629
Employee
1-10
Founded
2018
Overview
Lami is a Kenyan InsurTech platform that enables companies across sectors to offer insurance products.
Last round
Seed
Total raised
$ 5,610,000
Employee
11-50
Founded
2015
Overview
Inclusivity Solutions builds digital insurance solutions that address the protection gap in emerging markets.
Last round
Series A
Total raised
$ 4,957,076
Employee
11-50
Founded
2016
Overview
Root is an end-to-end digital insurance platform that enables you to launch new products and digital engagement channels fast.
Last round
Venture
Total raised
$ 4,500,000
Employee
11-50
Founded
2019
Overview
Casava aims to make insurance affordable for income earners by leveraging technology.
Last round
Pre-seed
Total raised
$ 4,200,000
Employee
11-50
Founded
2017
Overview
Curacel is an AI-powered platform for claims processing and fraud management in Africa
Last round
Seed
Total raised
$ 3,450,000
Employee
2-10
Founded
2020
Overview
Amenli is an Egyptian licensed online insurance brokerage startup.
Last round
Seed
Total raised
$ 3,425,000
Employee
11-50
Founded
2019
Overview
mTek is an InsurTech platform that provides paperless ecosystem for the insurance industry.
Last round
Seed
Total raised
$ 3,000,000
Employee
2-10
Founded
2017
Overview
Baloon is a digital insurance broker in Africa
Last round
Venture
Total raised
$ 2,100,000
Employee
51-200
Founded
2013
Overview
Hepstar is a global leader in personalised travel ancillary and insurance product merchandising.
Last round
Seed
Total raised
$ 2,000,000
Employee
11-50
Founded
2017
Overview
OKO is Malian InsurTech that provides index insurance services to smallholder farmers
Last round
Seed
Total raised
$ 1,963,200
Employee
2-10
Founded
2016
Overview
Kopano is delivering insurance to emerging markets by providing embedded digital solutions to our partners
Last round
Funding Round
Total raised
$ 1,700,000
Employee
11-50
Founded
2021
Overview
ETAP is a car insurance app that makes buying and claiming on car insurance easy
Last round
Pre-seed
Total raised
$ 1,500,000
Employee
11-50
Founded
2021
Overview
MyCover.ai is democratizing access to insurance in Africa with open insurance API.
Last round
Pre-seed
Total raised
$ 1,300,000
Employee
11-50
Founded
2022
Overview
Nice Deer is an InsurTech company that has developed an integrated digital ecosystem for the healthcare industry in Egypt.
Last round
Pre-seed
Total raised
$ 1,000,000
Employee
11-50