Agricultural technology insurance firm Pula Friday won the InsurTech of the Year Award during the sixth annual African Insurance Awards at an event held in Lagos, Nigeria.
The Kenyan company, which operates in 11 other African countries, carried the day for its role managing over 4.3 million smallholder farmers through their Area Risk Index and yield insurance product.
The Nairobi-based company operates “class index insurance products to manage farmer’s risks and enable them to invest more in their farms”.
They work with companies, governments, agricultural companies and lenders among other partners to “to bundle insurance with farm input products or loan credit”.
Pula co-founder Thomas Njeru said the award was a recognition of the company’s work in protecting small-scale farmers on the continent.
Pula co-founder Rose Goslinga said they are looking to partner with more African governments and private sector players to help drive the uptake of agriculture insurance and drive resilience for additional 10 million farmers.
“We want to send a big shout out to the dedicated staff of pula, partners, investors, insurers and farmers that we work with. With this award we are optimistic that agriculture insurance will be a necessary product that will help transform agriculture industry in Africa,” Ms Goslinga.
InsurTech Company of the year award targets non-insurers collaborating with insurers to improve customer service delivery, product development and innovation.