MyUbuntu

Cohort: Cohort 13

Focus on Insurance Value Chain/Workflow: Claims, Compliance & Regulatory Support  

Specific lines of business: Government, Speciality

Founded: 2024

Status: Operating

Company type: Insurance Product  

Head Office: Malta

Main global offices: Malta

Locations served: Malta, Nigeria, Zimbabwe

Employee count: 5

MyUbuntu Insurance empowers smallholder farmers in Africa by offering innovative parametric insurance solutions that provide quick, weather-triggered payouts to mitigate climate risks. Their mission is to enhance agricultural resilience, secure livelihoods, and promote sustainable development through strategic partnerships and advanced technology.

MyUbuntu primarily focused on developing scalable, weather-based parametric insurance solutions tailored for smallholder farmers in Africa. They aimed to refine our pricing models, enhance product-market synergy and establish key partnerships with insurers, reinsurers and distributors to bring affordable, accessible and inclusive insurance to those most susceptible to climate change.

During the Lloyd’s Lab Accelerator, MyUbuntu successfully launched their first product in Zimbabwe, engaged with leading syndicates and brokers in the Lloyd’s market and received strong validation for pricing methodology and policy design. Since the Lab programme, MyUbuntu have secured a partnership with the largest insurer in Nigeria for a 5,000-farmer pilot and have expanded their operations in Zimbabwe with new distribution agreements. MyUbuntu are actively working on embedding insurance with smart irrigation systems as well as raising investment to scale their reach and continue their mission of insuring 20 million farmers in the next 10 years.