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Bismart Africa

Internet-first insurance marketplace enabling consumers across Africa to compare and purchase coverage using blockchain-powered policy management.

Distribution & Sales Startup Seed
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Overview

Bismart Africa is an online insurance aggregator and marketplace serving consumers in Kenya and sub-Saharan Africa. Founded in 2017 by Eunice Wagithi Maina, the platform allows users to compare insurance products from multiple carriers across health, life, motor, family, and senior insurance categories. The company targets the large underinsured population in Africa, particularly consumers with irregular incomes who have historically lacked access to traditional insurance products.

The platform delivers its comparison and purchase experience entirely online, enabling customers to acquire coverage within approximately three hours of submitting an application. Bismart distinguishes itself as the first company in Kenya to implement blockchain smart contracts for policy management, using distributed ledger technology to provide transparent and immutable policy records. A mobile-money-based digital wallet enables flexible premium payments, removing the upfront lump-sum requirement that has historically been a barrier to insurance adoption.

Bismart raised seed funding from GreenTec Capital Partners (Germany) in July 2018 and previously received a KES 1M grant through the Standard Chartered Women in Tech programme in April 2018. As of 2018 reporting, the platform had over 5,000 customers comparing real-time insurance rates. The company has expanded its focus toward broader Pan-African markets, supported by recognition programs including the Women in Africa Initiative (WIA54) in 2020.

Products & Services

Insurance Comparison Marketplace

An online platform where insurance providers list products and consumers compare coverage options side by side, including customer reviews. Covers health, life, motor, family, and senior insurance categories.

Key Features

  • Side-by-side comparison of insurance products from multiple carriers
  • Customer review ratings to support purchasing decisions
  • Policy issuance within approximately three hours of application

Target Users: Individual consumers in Kenya and sub-Saharan Africa

Blockchain Smart Contract Policy Management

Bismart uses smart contracts on a blockchain to manage insurance policies, creating transparent and tamper-resistant records of coverage terms and policyholder data.

Key Features

  • Immutable policy records on distributed ledger
  • Decentralized database security
  • Transparency between insurer and insured

Target Users: Insurance carriers and consumers using the Bismart platform

Digital Wallet and Payment Facilitation

A mobile-money-based digital wallet integrated into the platform to help consumers save and pay insurance premiums incrementally, removing the barrier of upfront lump-sum payments.

Key Features

  • Integration with mobile money platforms (M-Pesa and similar)
  • Flexible payment scheduling aligned to consumer cash flow
  • Built-in savings mechanism for premium accumulation

Target Users: Consumers with variable or irregular incomes

Financial Planning Tools

Online personal financial planning advisory services covering budgeting, goal setting, and estate planning, complementing the insurance comparison offering.

Key Features

  • Budgeting and goal-setting tools
  • Estate planning guidance
  • Positioned as a broader financial wellness service

Target Users: Individual consumers seeking holistic financial planning alongside insurance coverage

At a Glance

Founded
2017
Headquarters
Nairobi, Kenya
Employees
1-10
Funding
Seed

Category & Focus

Category
Distribution & Sales
Subcategories
Insurance marketplace digital aggregator embedded payments
Insurance Verticals
Life & Annuity P&C Personal Health
Target Customers
Consumers

Links

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Last updated: 2026-06-12