From Fertiliser Bags to Taxi Rides, the Fintech Revolution That’s Bringing Insurance to More Kenyans
Both highlight a shift in Kenya’s insurance market-the growing reliance on fintech to deliver affordable, accessible, and flexible protection..
✨ Key Highlights
Kenya is experiencing a significant shift in its insurance market, with new fintech-powered initiatives making accessible and affordable coverage available to historically excluded populations like smallholder farmers and gig economy workers. This marks a move towards embedding insurance into everyday transactions to boost the nation's low insurance penetration.
- The Ministry of Agriculture launched an Integrated Agricultural Insurance Programme, piloting in 11 counties to cover 250,000 farmers registered on KIAMIS, with premiums of KSh 7,000 per season embedded in subsidized fertilizer purchases.
- BirdView Insurance, in partnership with Maisha Poa Insurance and Little, introduced Mfanisi Go, a micro-health insurance plan for taxi drivers, costing as little as KSh 82 per day, deductible from earnings.
- Agricultural insurance aims to de-risk smallholder farmers, who produce 70% of Kenya's food, from climate-related threats, while micro-health plans address health risks for gig workers lacking employer-linked cover.
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Kenya Introduces VASP Bill for Crypto and Embraces Fintech for Insurance Amid Technological Disruptions - August 2025
Kenya is set to strengthen its position in digital finance with the introduction of the Virtual Asset Service Providers (VASP) Bill, 2025. This legislation is designed to create a clear regulatory framework for the country's cryptocurrency ecosystem, aiming to build trust and protect consumers. In parallel, Kenya's insurance market is shifting due to new fintech-powered initiatives making affordable coverage available to historically excluded groups like smallholder farmers and gig economy workers. This move seeks to embed insurance into everyday transactions to address the nation's low insurance penetration. These technological disruptions are reshaping corporate agendas, requiring boards in Kenya to shift from traditional governance to strategic foresight. Boards must now navigate a Volatile, Uncertain, Complex, and Ambiguous (VUCA) world shaped by economic turbulence and rapid technological change.
