Jamii.one Wins $40,000 Grand Prize at UNDP Ethiopia's Innovative Insurance Challenge Fund

Danish Ethiopian startup Jamii.one has been awarded the $40,000 grand prize at the 2025 Innovative Insurance Challenge Fund (IICF), organized by the United Nations Development Programme (UNDP) Ethiopia and its Insurance and Risk Finance Facility (IRFF). The challenge aims to support inclusive insurance solutions that enhance the resilience of underserved communities. 

Jamii.one’s winning solution focuses on digitizing traditional community savings groups, known as idir, to create accessible insurance products for low-income households.  By leveraging community trust and digital tools, the platform enables members to build credit histories and access microinsurance services. Jamii managed to facilitate access to insurance services for nearly 160,000 people by the end of August last year.

The IICF culminated in a week-long hackathon of coaching and preparation for the finalists ahead of their final pitch. It brought together innovators to develop scalable insurance solutions aligned with the Sustainable Development Goals (SDGs), targeting areas such as climate risk, digital innovation, SME resilience, and health coverage.  Participants were evaluated on innovation, feasibility, scalability, and inclusivity. 

Two other Ethiopian Insurtech startups were recognized as runners-up: HuluCares, which offers health insurance solutions tailored for informal workers, and eQUB, a digital platform modernizing traditional rotating savings and credit associations.  While Jamii.one received the top grant, the runners-up will also benefit from technical support and connections to UNDP’s innovation and insurance networks.

The IICF competition is part of a broader push to explore how digital innovation can improve financial resilience and access to risk protection in vulnerable communities, particularly in the face of growing climate, health, and economic shocks.

Ethiopia has one of the smallest insurance penetration rates in the world, with less than 1% of the over 120 million citizens being insured. While 18 insurance companies operate in Ethiopia with assets close to 40 billion Birr last year, over half of the coverage is either for motor or maritime insurance

The challenge was open to organizations operating in Ethiopia with early-stage prototypes, and projects were evaluated based on their innovation, impact potential, feasibility, and alignment with national priorities.