Two leading insurance innovation solutions have been recognized by the Insurance Regulatory Authority of Uganda (IRA) in partnership with the United Nations Development Programme (UNDP), at the recently concluded Insurance Innovation Challenge.
The challenge saw 53 innovators submit ideas aimed at making insurance more accessible, affordable and responsive to the needs of farmers, small businesses, families and other underserved communities. The best 10 were selected and underwent an intensive five-day hackathon aimed at turning their promising ideas into practical insurance solutions, before two were announced winners at an awards ceremony held at IRA headquarters in Kampala on October 5, 2026. M-Omulimisa Innovative Agricultural Services emerged as the overall winner of the challenge, bagging a USD10,000 grant (about Shs40.3 million) while Otic Group came second, winning a $4,000 (Shs16.1 million) grant.
The remaining eight finalists received facilitation equivalent to USD 600 (Shs2.4 million) in recognition of their participation and progress through the Challenge.
Speaking at the awards event, the IRA Acting Chief Executive Officer, Dr. Protazio Sande said innovation must respond to real market needs and help make insurance more accessible, relevant and inclusive.
“The insurance innovation challenge has been timely as it comes at the moment when the country is trying to realize the 10-fold growth agenda by 2040, and insurance has been identified as one of the enablers towards this realization. Such innovations will therefore help us strengthen our position as the insurance industry in the national economy”, Dr. Sande said.
According to the UNDP resident representative to Uganda Ms. Nwanne Vwede-Obahor, all 53 innovators who responded to the innovation challenge call have the potential of solving real problems in the insurance industry. She therefore encouraged those who did not win the cash price to keep refining and remodeling their ideas because the market needs them.
“Do not drop the idea. There is so much more that that idea can do because the only way the insurance industry can grow is by embracing such fresh ideas. Ms. Nwanne said.
To ensure that such innovative ideas do not end with the awards ceremony, Dr. Sande encouraged innovators to join the Insurance Regulatory Sandbox where these ideas will be refined and helped into the market.
“The journey does not end with the cash awards. You have an opportunity to continue developing your ideas through the IRA Regulatory Sandbox, where they will be tested, refined and prepared for market entry”, he said.
About the winning solutions
M-Omulimisa’s solution helps smallholder farmers obtain improved seed, fertiliser and crop insurance through one seasonal credit package. It addresses the upfront cost that prevents farmers from buying insurance, even when they want protection. It brings village agents and DigiSave to the farmer-facing journey, while a financing partner makes the lending decision and Agro Consortium and its insurers provide the cover and crop-monitoring data.
Otic Group’s Insurance Intelligence Platform on the other hand is a multifaceted AI powered insurance technology platform comprising Kato, its customer facing WhatsApp AI agent, and an insurer facing intelligence and workflow layer. It connects customer interactions with insurers’ operational processes to improve how insurance is accessed, administered and serviced.
Through Kato, customers can obtain insurance information, explore products, understand policy terms, receive payment and renewal reminders, and guidance throughout the claims process. For insurers, it supports policy servicing, claims processing and follow-up, document intelligence, and fraud detection.
Other participants were; Sacco Shield by Agricultural Innovation Systems Brokerage Association (AGINSBA), MediSmart – Fund Management (Group)/ MediSmart-USSD Individual by Smart Applications International Uganda Limited, Insured Rides by Liberty General Insurance Uganda Limited, Your Mutual Friend by Old Mutual Insurance Uganda Limited, AgriGuard Uganda by Atine Labs Limited, DIMA Pay Later Insurance by DIMA Digital Technologies Limited, Route Cover by NIC Life Assurance Limited, Route Cover by NIC Life Assurance Limited and Opportunity Sanyu Micro -Medical Insurance Cover by Opportunity Bank Uganda Limited.
