Powered by BimaLab Africa Accelerator (FSD Africa) & UNDP Nigeria
Theme: Innovating Insurance Protection for Every Nigerian
Millions of Nigerians including farmers, small business owners, and low-income families, remain one unexpected event away from financial hardship. Climate shocks, health crises, and market disruptions continue to expose deep protection gaps that traditional insurance hasn’t been able to close.
That is why FSD Africa’s BimaLab Africa Accelerator and UNDP Nigeria have joined forces to launch the Inclusive Insurance Innovation Challenge Nigeria – a bold call to reimagine how insurance can work for everyone.
Why This Challenge Matters
Insurance is more than a safety net , it’s a catalyst for resilience and inclusive growth. This challenge invites insurtechs, innovators, insurance companies, and changemakers to design solutions that bring protection to those traditionally left out of the system.
Together, we aim to unlock new insurance models that help:
- Farmers withstand climate shocks
- Small businesses stay resilient through disruption, and
- Families access affordable, reliable health coverage.
What’s in It for Innovators
Up to 3 winning solutions will each receive USD 20,000 in grants, exclusive access to the BimaLab Accelerator Program, access to leading insurance partners in Nigeria and regulatory support from NAICOM to pilot their products.
Shortlisted innovators will also benefit from:
- Tailored technical assistance to strengthen product design and business models
- Expert mentorship from industry leaders
- Partnership opportunities with insurers and investors
Focus Areas
We are seeking breakthrough ideas across 3 key themes:
- 🌾 Climate Risk Insurance for Farmers – Data-driven products that protect crops, livestock, and livelihoods.
- 💊 Health Insurance – Affordable coverage models for rural and peri-urban populations.
- 🏢 MSME Resilience Insurance – Products that help small businesses manage shocks and ensure continuity.
Applicants are encouraged to integrate gender-responsive and inclusive design, ensuring women and marginalized groups are equally protected and empowered.
A Platform for Co-Creation and Impact
This partnership blends UNDP’s deep development expertise with FSD Africa’s insurance innovation ecosystem under the BimaLab Accelerator combining policy influence, technical support, and market access to turn bold ideas into real impact.
From ideation to market launch, innovators will receive hands-on guidance in product design, financial modeling, regulatory navigation, and investor readiness, culminating in a live innovation hackathon in Lagos in December 2025.
Key Dates
📅
Applications Open: 13 October 2025
📅
Application Deadline: 30 October 2025
📅
Pre-Hackathon Bootcamp: 10–14 November 2025
📅
Hackathon & Winners’ Announcement: 5 December 2025
Ready to Build the Future of Inclusive Insurance?
If you are building innovation that protects lives and livelihoods, this is your moment.
Apply by
30 October 2025 via
Inclusive Insurance Innovation Challenge Nigeria – Application Form
📩 Questions? Contact us at
info@bimalab.org or
Nigeria@UNDP.org
Let us co-create insurance solutions that work for every Nigerian because resilience should never be a privilege.
