The Insurance Regulatory Authority of Uganda (IRA), in partnership with United Nations Development Programme (UNDP) Uganda is pleased to announce the opening of applications for the upcoming 2026 Insurance Innovation Challenge (IIC). Applications are open from July 30 to August 24, 2026. Interested applicants can find more information through the official application links (https://irasandbox.com/opportunities/
This call provides an opportunity to qualified individuals and institutions submit application to participate in the challenge aimed at advancing innovative insurance solutions that can expand financial protection for Uganda’s underserved populations.
The call for application comes at a time when uptake of microinsurance among the population remains low, despite it being introduced in Uganda over a decade ago. As thus, Ugandans are often forced to bear the full cost of emergencies such as illness, crop failure, accidents and other unexpected losses.
To address this gap, the challenge is seeking innovative solutions that use technology, new business models and strategic partnerships to expand insurance coverage across the country.
The competition is looking for practical ideas that make insurance easier to access and more affordable, especially for farmers, small businesses, families and other underserved communities.
Priority areas include agricultural insurance, health insurance, life insurance and insurance products for small and medium-sized enterprises (SMEs). Applications are open in two categories; the established entities and early-stage innovators. The established entities category targets insurance companies, brokers, bancassurance agents and technology firms such as FinTechs, AgriTechs, InsurTechs and HealthTechs. Graduates of the IRA InsureX Programme are also eligible.
The early-stage innovators category on the other hand targets early-stage innovators, including university students, startups, entrepreneurs and community innovators with promising ideas that could grow into market-ready solutions.
Prize
Successful applicants will take part in a programme that includes mentorship, expert-led training sessions, webinars and a five-day hackathon to help refine their innovations. The best ideas could also qualify for regulatory sandbox testing before being introduced to the market.
Winning teams will receive grant funding of to win $12,300 (about Shs45.8 million) to scale, disbursed in stages as they meet agreed milestones, as well as continued technical support to help commercialize their innovations.
Apply now here
