Ten innovators have entered an intensive five-day Insurance Innovation Challenge Hackathon aimed at refining solutions with the potential to expand access to affordable and relevant insurance for underserved Ugandans.
The hackathon follows a nationwide call for applications that attracted 53 submissions. Following a rigorous evaluation process, 10 teams were shortlisted, presenting innovations spanning agriculture, health, transport, life insurance and digital technology.
Speaking at the official opening of the five-day hackathon in Kampala, Mr. Kasato Edward, representing the Chief Executive Officer of the Insurance Regulatory Authority of Uganda (IRA), said reaching the hackathon stage was itself an indication of the potential identified in the shortlisted solutions.
“An innovation only creates value when it moves from an idea into a solution that people can actually use,” he said on behalf of the CEO, urging participants to challenge their assumptions, listen to the market and use the week to strengthen their solutions beyond the competition.
Throughout the week, participants will work with trainers from Microinsurance Master through an intensive programme of learning, testing and refinement. According to the United Nations Development Programme (UNDP), the exercise goes beyond identifying competition winners and seeks to build a pipeline of innovations capable of progressing from prototypes into scalable insurance solutions.
“The objective is not merely to compete, but to develop solutions that can expand insurance coverage, strengthen resilience and contribute to Uganda’s sustainable development aspirations,” Mr. Tom Sengalama said on behalf of the UNDP Resident Representative.
The hackathon is also part of a broader drive to embed innovation within Uganda’s insurance market development. Mr. Kasato noted that the Authority operates an Insurance Regulatory Sandbox, which provides a controlled environment for promising solutions to be tested and prepared for the market. This complements initiatives such as the Insurance Innovation Awards, established to encourage industry players to develop solutions responsive to changing market needs.
The Authority has further indicated that the journey may not end for innovations that do not ultimately win the Challenge cash prize. Viable solutions could still be explored for possible market progression through engagement with insurance industry players and the Regulatory Sandbox.
The Insurance Innovation Challenge comes against a significant insurance protection gap, with about 90 per cent of Uganda’s informal workers remaining uninsured, leaving millions of small businesses, farmers and vulnerable households exposed to financial shocks.
The Challenge is therefore intended to do more than identify a winning idea. Its bigger test will be whether the solutions emerging from the hackathon can move beyond the room and into the market-making insurance more accessible, affordable and relevant to Ugandans who remain outside formal financial protection.
