Application Deadline: April 15, 2025
Applications are now open for the 2025 UNDP Tanzania Insurance Innovation Challenge. UNDP’s Insurance and Risk Finance Facility is creating an Insurance Innovation Challenge (IIC) to help tackle these major issues through advances within the insurance industry, by facilitating and incentivizing the development and launch of a set of transformative and innovative insurance products and services. Insurance intermediaries, aggregators, insur-techs, fin-techs, distribution channels, and other related private sector actors and individuals operating in Tanzania. , can apply to the IIC through a series of Calls for Proposals for financial support, along with technical assistance to scale up innovative insurance solutions.
The Insurance Innovation Challenge (IIC) presents an opportunity for Tanzania to engage the insurance industry in developing solutions that enhance financial resilience and promote inclusive growth through the Insurance Innovation Challenge, using a Hackathon modality. Technically supported by UNDP Accelerator Lab Tanzania the challenge will be organized in partnership and collaboration with the Association of Tanzania Insurers (ATI) and the Tanzania Insurance Regulatory Authority (TIRA).
Eligible Applicants:
Applicants must be Insurance intermediaries, aggregators, insur-techs, Fin-techs, distribution channels, and other related private sector actors operating in Tanzania.
Focus of Solutions:
Entities applying to the Insurance Innovation Challenge 2025 must address key development needs through innovative thinking while ensuring:
• Viability: Solutions must be adaptable to local conditions, demonstrating practicality and effectiveness in the Tanzanian context.
• Sustainability & Scalability: Solutions should be designed to promote long-term sustainability and scalability, ensuring they can grow and evolve to reach wider audiences over time.
Benefits
- The winning overall solution will receive a combined prize money of 30,000,000 Tanzanian Shilling, along with comprehensive technical assistance for six months at the contract start date to ensure the resulting solutions are viable, sustainable, and scalable.
Application Process
All completed application packs must be submitted through the designated online platform provided for the hackathon. https://forms.gle/DZTaZZqHGDc1mpfw9 Application packs must include fully completed application forms. Incomplete forms will not be assessed. All mandatory fields in the application form must be filled. Late submissions received after the deadline will not be considered.
Screening and Evaluation:
- Applicants must successfully pass the initial screening and pitching stages to qualify for support.
For More Information:
Visit the Official Webpage of the UNDP Tanzania Insurance Innovation Challenge
