Renew Capital invests in Ethiopian micro insurance platform

Renew Capital Angels has invested in micro-insurance platform Jamii.one. The company has begun services in Ethiopia, where there are few insurance options for rural communities.

Jamii.one’s growth has come from self-organised Ethiopian community groups, called iddirs. These groups typically consist of around 50 people who make monthly contributions to an informal cooperative-style insurance for funerals and other significant life events.

More than 30% of Ethiopians participate in iddir groups, which often face operational difficulties due to manual data tracking and management, preventing them from fully meeting their members’ financial needs.

Jamii.one provides an app-based data registration tool for iddirs and connects them to affordable, reliable insurance options.

“When we entered the market it didn’t take us long to introduce the iddir community to Jamii.one. After we tailored our product for iddirs and enabled access to affordable group micro life insurance it was amazing to see the power of technology with the power of community,” says Tigist Bezu, co-founder.

The app is designed to accommodate low literacy levels, offline functionality and limited smartphone usage, making it accessible to a wider segment of the population.

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