Inclusive insurance is proving to be a powerful tool for protecting vulnerable populations across Africa. In September 2025, the Selection Committee for the European Microfinance Award 2025 (EMA2025), focused on “Building Resilience through Inclusive Insurance,” announced three finalists competing for the €100,000 prize. Among them are two African companies: Britam General Insurance from Kenya and RADIANT YACU Ltd. from Rwanda, alongside India’s DHAN Foundation.
The Award recognizes institutions that are designing innovative insurance solutions to help low-income households absorb shocks, recover from crises and build long-term resilience. For communities facing climate shocks, health crises, natural disasters and other risks, insurance is more than a financial product, it is a lifeline that can prevent people from falling into poverty and enable them to manage uncertainty with dignity.
Britam General Insurance: Extending Protection at Scale in Kenya
Kenya’s Britam General Insurance is a pan-African commercial insurer that has successfully adapted mainstream insurance to meet the needs of underserved populations. In a country highly exposed to climate and health risks, Britam has developed inclusive microinsurance products covering life, health, agriculture and property. The company leverages partnerships with banks, cooperatives and digital platforms to make insurance accessible and affordable for low-income households.
One of the key innovations of Britam’s approach is its simplified enrolment process and mobile payment options, allowing rural and underserved communities to access coverage without unnecessary complexity or cost. These measures have helped Britam extend protection to tens of thousands of Kenyans, demonstrating that commercial insurers can scale inclusive products while addressing systemic vulnerabilities.
Britam’s model shows how a mainstream insurer can use digital tools and strategic partnerships to reach segments of the population often overlooked, delivering resilience at both household and community levels. By helping families recover from shocks and maintain their livelihoods, the company is contributing to broader economic stability and social development across Kenya.
RADIANT YACU Ltd.: Cooperative Health Insurance for Rural Rwanda
Rwanda’s RADIANT YACU Ltd. takes a cooperative approach to inclusive insurance, focusing on savings groups and rural households. Its model bundles hospital cash and funeral cover with microfinance services, leveraging group structures to simplify enrolment and make premiums sustainable. This approach complements Rwanda’s national health insurance by covering indirect costs such as transport and lost income, which can be significant barriers for poor households.
With an emphasis on women and children, RADIANT YACU delivers fast claims settlements through community channels. This not only ensures that vulnerable households receive timely support during crises but also strengthens trust in insurance as a tool for resilience. By providing coverage where traditional products may not reach, RADIANT YACU demonstrates the potential of cooperative insurers to fill critical gaps in national protection systems while building financial stability for the most at-risk populations.
Through its innovative design and focus on community-based distribution, RADIANT YACU offers a model for other countries looking to expand inclusive insurance coverage in rural areas. Its work highlights how cooperation, accessibility and affordability can transform the way insurance supports resilience in fragile economies.
Highlighting Innovation Beyond Africa
The third finalist, India’s DHAN Foundation, brings a different but complementary approach. A long-established grassroots development organization, DHAN pioneered community-based mutual insurance through its People Mutuals programme. The model allows low-income communities to design and govern their own health, life and asset coverage. It emphasizes education, solidarity and mutual support, helping smallholder farmers, informal workers and women access affordable protection in contexts where commercial insurers rarely operate.
Together, these finalists showcase the diversity of solutions making a real difference in people’s lives. The EMA2025 competition began in March, attracting 103 applications from 43 countries. After rigorous evaluation, 44 applicants moved to Round 2, then 21 were forwarded to the expert Selection Committee. Over two days in September, the committee selected 12 semi-finalists and ultimately the three finalists.
The Award draws on expertise from the Luxembourg Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade, as well as members of e-MFP, the Inclusive Finance Network Luxembourg (InFiNe.lu) and the Microinsurance Network, this year’s key strategic partner. These institutions bring insight into the most effective approaches to inclusive finance and resilience-building.
In addition to the finalists, the Award recognized nine other semi-finalists, including institutions from Ecuador, the Philippines, Colombia, Bangladesh, India, Pakistan, South Africa and Mexico. Each of these organizations is working to bring financial protection to underserved populations, from microinsurance and mutual schemes to specialized health and social protection products.
Building Resilience Through Inclusive Insurance
EMA2025 Chairwoman Lucia Spaggiari highlighted the critical importance of inclusive insurance in today’s world: “Resilience is the defining challenge of our time. From climate change to health risks and economic instability, vulnerable communities are exposed to shocks that can wipe out livelihoods in an instant. Inclusive insurance has a vital role to play in protecting those most at risk, giving them the means to face uncertainty with confidence and to recover when crises hit.”
Laurence Hulin, Chairwoman of InFiNe.lu and member of the Selection Committee, added: “Communities worldwide face mounting pressures from climate, social and economic challenges. Inclusive insurance offers powerful hope, providing safety nets in fragile regions and reaching populations that have long been underserved. These initiatives demonstrate innovation, courage and tangible impact, transforming uncertainty into opportunity and vulnerability into strength.”
The winner of the EMA2025 will be chosen by a High Jury and announced on 13 November 2025 at a ceremony hosted at the headquarters of the European Investment Bank in Luxembourg. All twelve semi-finalists will be profiled in e-MFP’s annual Award publication, which will include lessons learned, strategies and insights from this year’s selection process.
Since its launch in 2005, the European Microfinance Award has recognized innovative thinking in microfinance, helping organizations around the world develop solutions that protect low-income populations, strengthen communities and foster sustainable development. By highlighting institutions such as Britam General Insurance and RADIANT YACU Ltd., the Award underscores the role of insurance in building resilience and advancing inclusive growth.
