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
$55.1M+
Total # of Companies
12
Total Deal Count
21
Total M&A Count
0
Total # of Investors
55
List of InsurTech startups in Africa
Add Startup| Startuparrow_upward | Overviewarrow_upward | Last roundarrow_upward | Total raisedarrow_upward | Founded |
|---|---|---|---|---|
Reliance HMO provides Health Insurance in Nigeria for You, Family & Business. | Series B | $ 46,000,000 | 2017 | |
Casava aims to make insurance affordable for income earners by leveraging technology. | Pre-seed | $ 4,200,000 | 2019 | |
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 | |
Jamborow is a B2B AI and Blockchain driven fintech platform focused on financial inclusion and grassroot empowerment. | Funding Round | $ 850,000 | 2018 | |
Octamile is enabling Insurance and non-insurance businesses in Africa to simplify access to insurance | Pre-seed | $ 500,000 | 2021 | |
Wella Health provides Micro health Insurance for high occurrence disease in Africa starting with malaria in Nigeria. | Grant | $ 300,000 | 2017 | |
Evolutics is an InsurTech start-up that offers software solutions to Insurance Providers, from Life to General to Health insurance. | Pre-seed | $ 250,000 | 2021 | |
PaddyCover is powering affordable pay-as-you-go insurance in Nigeria & Africa. | Pre-seed | $ 200,000 | 2018 | |
Haba is a Nigeria-based startup that leverages tech to provide insurance services for individuals and businesses | Pre-seed | $ 75,000 | 2022 | |
roHealth is a platform that helps employers and employees make better health coverage decisions | Funding Round | Undisclosed | 2021 | |
Insurpass is an API-based insurtech company ushering in the future of insurance in Africa. | Funding Round | Undisclosed | 2021 |
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
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
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
2018
Overview
Jamborow is a B2B AI and Blockchain driven fintech platform focused on financial inclusion and grassroot empowerment.
Last round
Funding Round
Total raised
$ 850,000
Employee
2-10
Founded
2021
Overview
Octamile is enabling Insurance and non-insurance businesses in Africa to simplify access to insurance
Last round
Pre-seed
Total raised
$ 500,000
Employee
2-10
Founded
2017
Overview
Wella Health provides Micro health Insurance for high occurrence disease in Africa starting with malaria in Nigeria.
Last round
Grant
Total raised
$ 300,000
Employee
2-10
Founded
2021
Overview
Evolutics is an InsurTech start-up that offers software solutions to Insurance Providers, from Life to General to Health insurance.
Last round
Pre-seed
Total raised
$ 250,000
Employee
11-50
Founded
2018
Overview
PaddyCover is powering affordable pay-as-you-go insurance in Nigeria & Africa.
Last round
Pre-seed
Total raised
$ 200,000
Employee
2-10
Founded
2022
Overview
Haba is a Nigeria-based startup that leverages tech to provide insurance services for individuals and businesses
Last round
Pre-seed
Total raised
$ 75,000
Employee
2-10
Founded
2021
Overview
roHealth is a platform that helps employers and employees make better health coverage decisions
Last round
Funding Round
Total raised
$ 0
Employee
11-50
Founded
2021
Overview
Insurpass is an API-based insurtech company ushering in the future of insurance in Africa.
Last round
Funding Round
Total raised
$ 0
Employee
11-50