myUbuntu Insurance
Parametric agricultural insurance for smallholder farmers in Africa
Overview
myUbuntu Insurance is a parametric agricultural insurance MGA registered in Malta, with operations in Nigeria and Zimbabwe. The company writes weather-indexed policies for smallholder farmers across sub-Saharan Africa, providing coverage against climate risks including drought and flooding.
The company administers policies through a blockchain-based platform where payouts are triggered automatically when weather measurements cross predefined thresholds, removing the need for traditional loss adjustment. myUbuntu is an alumnus of the Lloyd's Lab Accelerator programme; specific carrier capacity arrangements have not been publicly disclosed.
The target market is Africa's estimated 220 million smallholder farmers, who produce roughly 80% of the continent's food supply yet have insurance penetration below 3%. myUbuntu reaches farmers through direct channels and through agricultural organizations and government programs in its active markets.
Products & Services
Parametric Crop Insurance
A blockchain-administered parametric insurance product covering weather-related risks for smallholder farmers in sub-Saharan Africa.
Key Features
- Automatic payouts triggered when weather conditions (rainfall, drought indices) meet policy thresholds
- Coverage for drought and flooding events aligned to crop growing seasons
- Pricing based on weather data and local agricultural risk profiles
Target Users: Smallholder farmers in Nigeria, Zimbabwe, and other African markets
Distribution: Direct to farmers; via agricultural NGOs, government programs, and agribusiness partners