The Bimalab Africa Insurtech Accelerator Program, supported by a $600,000 grant from the Swiss Re Foundation, is extending its reach to five additional African countries: Tanzania, Tunisia, Senegal, Zambia, Malawi, and Somalia. With this expansion, the program now covers a total of 15 countries, aiming to accelerate 55 insurtech startups across the continent by 2025.
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The BimaLab Africa Insurtech Accelerator Program offers practical support to insurtech startups focusing on serving underserved and climate-vulnerable communities and businesses.
By fostering an ecosystem that brings together innovators, technology partners, insurance firms, investors, and regulators, the program aims to facilitate access to capital, talent, and innovative insurance solutions.
Bimalab Africa’s efforts have already supported 63 startups and facilitated the development of three regulatory sandboxes over the past four years. Additionally, investors have injected over $10 million into 10 ventures, resulting in the development of 40 products reaching over 3 million new customers across the continent. By providing a safety net for individuals and businesses affected by natural disasters, health issues, or economic disruptions, insurance can help bridge the gap and protect vulnerable communities.
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