Kenyan start-up Lami raises $ 1.8 million to boost digital insurance

Kenyan start-up Lami raises $ 1.8 million to boost digital insurance

Kenyan insurtech startup Lami Technologies has successfully raised $ 1.8 million in seed funding, as part of a round led by Accion Venture Lab with participation from AAIC, Consonance, P1 Ventures, Acuity Ventures, The Continent Venture Partners and Future Africa.

The capital will be used to improve the capabilities of its offering and finance the expansion of its API insurance platform across Africa. A platform that provides users with quotes for auto, medical and other insurance products in seconds, and allows you to customize benefits, adjust premiums as needed, and get policy documents instantly with claims paid in record time. “The driving force for us was to make insurance widely available. We felt that putting in place the technological infrastructure to facilitate insurance distribution was the best way to increase the level of penetration in Africa, ”said CEO Jihan Abass.

Founded in 2018 by Jihan Abass to democratize insurance products in Kenya, the startup empowers businesses such as banks, startups and organizations to deliver digital insurance products to their users. The product can also be used by partner companies to manage their own insurance needs.

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