The United Nations Development Programme (UNDP) Nigeria, in partnership with FSD Africa through the BimaLab Insurtech Accelerator, has launched the Inclusive Insurance Innovation Challenge 2025 — a ₦90 million innovation fund aimed at accelerating inclusive insurance solutions for Nigeria’s underserved populations.
The initiative calls on innovators, startups, insurance providers, and changemakers to design bold, scalable insurance products that strengthen resilience against climate shocks, health crises, and business risks for vulnerable Nigerians.
Challenge Focus Areas
The competition seeks ideas that make insurance affordable, accessible, and inclusive, particularly for low-income groups, small businesses, and women. Key areas include:
- 🌾 Climate Risk Insurance: Develop products that protect smallholder farmers against floods, droughts, and other climate-related risks.
- 💊 Health Insurance: Create affordable health coverage for rural and peri-urban communities to reduce out-of-pocket healthcare expenses.
- 🏢 MSME Resilience Insurance: Design sustainable insurance solutions that help small businesses withstand shocks and ensure business continuity.
- ♀️ Gender Integration: Embed gender-responsive approaches that empower women and bridge protection gaps in insurance access.
Who Can Apply
Eligible applicants include:
- Startups, innovators, insurtechs, and fintechs
- Registered insurance companies or community-based organizations
- Entities with viable products or ideas targeting underserved populations
- Businesses willing to collaborate with regulators or insurers for rollout
Applicants must be registered with the CAC and tax-compliant under Nigerian law.
Prizes and Support
- ₦30 million each for the top 3 winning proposals
- Access to a technical assistance program to refine, test, and scale solutions
- Participation in an exclusive Bootcamp to strengthen product design, business models, and regulatory readiness
Winners retain full intellectual property ownership of their innovations, with a commitment to ethical data use and responsible technology deployment.
How to Apply
- Complete the online application form at
👉 http://bit.ly/47afGIw - Attach your product description, business plan, and financial projections.
- Submit all documents by October 27, 2025, and upload supporting files between October 28–30, 2025.
Application Deadline: October 27, 2025
Apply Here: Click to Apply