Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Deadline: October 30, 2025
The United Nations Development Programme (UNDP) Nigeria, in collaboration with its partners, is pleased to announce the Inclusive Insurance Innovation Challenge (IIIC) 2025 — a groundbreaking initiative designed to foster inclusive insurance solutions for underserved and vulnerable populations across Nigeria.
With a ₦90 million cash prize pool, the challenge invites Nigerian innovators, startups, and social enterprises to design and scale innovative, technology-driven insurance solutions that can expand access to financial protection for low-income individuals, smallholder farmers, informal workers, and micro, small, and medium enterprises (MSMEs).
This challenge is part of UNDP’s broader mission to advance financial inclusion, strengthen climate resilience, and ensure sustainable livelihoods for Nigerians through innovation.
Focus Areas:
- Climate Risk Insurance for Farmers: Innovative insurance solutions that help smallholder farmers manage risks associated with climate change, such as floods and droughts, including parametric products to safeguard crops, livestock, and agricultural livelihoods.
- Health Insurance: Affordable and accessible health coverage tailored to underserved rural and peri-urban populations, reducing out-of-pocket medical expenses and enhancing household resilience.
- MSME Resilience Insurance: Tailored and sustainable insurance products designed for micro, small, and medium-sized enterprises, enabling them to better manage operational shocks and strengthen long-term business continuity.
- Gender Integration: All solutions and applications are highly encouraged to adopt a gender lens by including models that intentionally address the protection gaps faced by women, ensuring equitable access, participation, and benefits, while also promoting their empowerment and economic resilience.
Benefits
Winners and participants of the UNDP Nigeria Inclusive Insurance Innovation Challenge 2025 will gain access to:
- ₦90 million in total cash prizes, distributed among top-performing teams.
- Funding support to scale and implement insurance innovations.
- Mentorship and technical guidance from industry experts and UNDP partners.
- Opportunities for pilot implementation and partnerships with financial institutions and insurers.
- Visibility and media exposure through UNDP platforms and national events.
- Access to a network of impact-driven innovators and global development professionals.
Eligibility Criteria
Applicants must meet the following criteria to qualify:
- Must be Nigerian citizens or registered Nigerian startups/organizations.
- Innovations must address inclusive insurance solutions, focusing on affordability, accessibility, and impact.
- The idea should be technology-driven or scalable in nature.
- Applicants can apply as individual innovators, startups, or consortia.
- Must demonstrate proof of concept, prototype, or early traction.
- Open to participants across sectors including fintech, agri-insurance, health insurance, microinsurance, and climate risk management.
Application Process and Documents Required
A well‑ about articulated proposal describing: target population, risk exposure, product/innovation, revenue model, inclusion strategy (gender‑responsive, accessibility, etc.)and scalability plan
Clear metrics of impact & affordability
Evidence or assumptions distribution, underwriting, risk management, claims handling
Apply Now for the UNDP Nigeria Inclusive Insurance Innovation Challenge
