Published: 28 Mar 2025 172 views
UNDP’s Insurance and Risk Finance Facility is creating an Insurance Innovation Challenge (IIC) to help tackle these major issues through advances within the insurance industry, by facilitating and incentivizing the development and launch of a set of transformative and innovative insurance products and services. Insurance intermediaries, aggregators, insur-techs, fin-techs, distribution channels, and other related private sector actors and individuals operating in Tanzania. , can apply to the IIC through a series of Calls for Proposals for financial support, along with technical assistance to scale up innovative insurance solutions.
The Insurance Innovation Challenge (IIC) presents an opportunity for Tanzania to engage the insurance industry in developing solutions that enhance financial resilience and promote inclusive growth through the Insurance Innovation Challenge, using a Hackathon modality. Technically supported by UNDP Accelerator Lab Tanzania the challenge will be organized in partnership and collaboration with the Association of Tanzania Insurers (ATI) and the Tanzania Insurance Regulatory Authority (TIRA).
UNDP works in about 170 countries and territories, helping to achieve the eradication of poverty, and the reduction of inequalities and exclusion. We help countries to develop policies, leadership skills, partnering abilities, institutional capabilities and build resilience in order to sustain development results. This is a critical time for the world. At UNDP, we see this period as a huge opportunity to advance the global sustainable development agenda. In September 2015, world leaders adopted the 2030 Agenda for Sustainable Development to end poverty, protect the planet and ensure that all ... continue reading
| Application Deadline | 15 Apr 2025 |
| Country to study | Tanzania |
| Type | Entrepreneurs |
| Sponsor | United Nations Development Program (UNDP) |
| Gender | Men and Women |
The winning overall solution will receive a combined prize money of 30,000,000 Tanzanian Shilling, along with comprehensive technical assistance for six months at the contract start date to ensure the resulting solutions are viable, sustainable, and scalable.
Applicants must be Insurance intermediaries, aggregators, insur-techs, Fin-techs, distribution channels, and other related private sector actors operating in Tanzania.
Focus of Solutions:
Entities applying to the Insurance Innovation Challenge 2025 must address key development needs through innovative thinking while ensuring:
• Viability: Solutions must be adaptable to local conditions, demonstrating practicality and effectiveness in the Tanzanian context.
• Sustainability & Scalability: Solutions should be designed to promote long-term sustainability and scalability, ensuring they can grow and evolve to reach wider audiences over time.
Screening and Evaluation:
Applicants must successfully pass the initial screening and pitching stages to qualify for support.
For more details, visit UNDP webpage
