We Are BimaLab
Innovating insurance to build resilience for Africa’s underserved
Our mission is to catalyze scalable and innovative insurance solutions that protect livelihoods, drive inclusive growth, and strengthen climate and economic resilience across Africa
Africa has vast potential with abundant natural resources, a youthful population and an entrepreneurial business sector but all this is at risk from the impacts of climate change, natural disasters, health risks and economic shocks.
Africa is particularly vulnerable to these because of its historically low levels of insurance cover (at just 3% of the population). Those most vulnerable to these risks are also those least likely to be able to access or afford insurance cover.
We believe that for Africa to realise its true potential we need to build our resilience amid an increasingly challenging global environment and that meaningful change starts with innovation.
We believe that it is the innovators and entrepreneurs who will help bridge the protection gap which leaves historically uninsured communities vulnerable. We believe that solutions start with a good idea but too many fail because they lack the technical capacity, are unable to access funding or strategic partnerships, or because of regulatory barriers they are ill equipped to deal with.
We offer a helping hand to the innovators and entrepreneurs whose ideas can reshape the insurance sector, by providing mentorship, regulatory access, funding and strategic partnership connections.
Our greatest asset is our network – of financial institutions, investors, venture capital firms, governments, regulators and other entrepreneurs - and we believe that collaboration is the key to success.
We know that together we can build an African insurance sector which encourages and supports innovation, which seeks to broaden access to historically unserved communities and which can help manage future risks by getting finance to where it is most needed.