Deadline: october 30, 2025
The UNDP x FSD Africa Inclusive Insurance Innovation Challenge Nigeria 2025 is a strategic initiative designed to accelerate the development of innovative, accessible, and affordable insurance solutions for financially underserved populations across Nigeria.
Organised by the United Nations Development Programme (UNDP) in partnership with FSD Africa, this challenge seeks to unlock the potential of insurance in driving social and economic resilience for vulnerable individuals, smallholder farmers, women, MSMEs, and low-income communities.
Objective of the Challenge
The main goal of the UNDP x FSD Africa Inclusive Insurance Innovation Challenge Nigeria 2025 is to foster the creation and scaling of inclusive insurance products that can effectively bridge the protection gap for Nigeria’s low-income and vulnerable groups. The challenge aims to identify and support innovations that enhance access to insurance services, promote gender inclusivity, and strengthen the financial ecosystem.
Key Focus Areas
The challenge will support innovations in the following thematic areas:
- Climate Risk Insurance:
Solutions targeting smallholder farmers and agricultural communities to mitigate the effects of floods, droughts, and other climate-related risks. - Health Insurance:
Innovative insurance models that increase access to affordable health coverage for underserved populations in rural and peri-urban areas. - MSME Resilience Insurance:
Insurance solutions designed to protect micro, small, and medium enterprises (MSMEs) from shocks and enhance business continuity. - Gender Integration:
Applicants are required to embed gender-responsive strategies in their models, ensuring the inclusion of women, persons with disabilities, and other marginalised groups.
Prize and Support
Three winning innovations will each receive ₦30 million in grant funding alongside extensive technical support. The assistance will include:
- Product refinement and testing.
- Licensing and regulatory guidance.
- Business development and market entry support.
In addition, shortlisted applicants will participate in a bootcamp to enhance their product design, financial modelling, and readiness for regulatory compliance and market adoption.
Eligibility Criteria
To be eligible for the UNDP x FSD Africa Inclusive Insurance Innovation Challenge Nigeria 2025, applicants must meet the following requirements:
- Must be a registered entity in Nigeria (with Corporate Affairs Commission registration and valid tax compliance).
- Open to innovators, startups, insurtechs, fintechs, insurance companies, and community-based organisations that serve low-income or underserved populations.
- Must present a commercially viable product or have a clear pathway to viability.
- Should have the capacity or strategy to integrate gender and inclusion in their operations.
- Willingness to collaborate with insurance sector stakeholders, including regulators and insurers, for pilot and rollout phases.
Application Timeline
- Application Deadline: 30 October 2025.
- Shortlisted applicants will be invited to a capacity-building bootcamp before the final selection of winners.
Why You Should Apply
This challenge presents an opportunity to:
- Access ₦30 million in funding and technical assistance.
- Gain visibility and credibility through partnership with UNDP and FSD Africa.
- Strengthen product design and regulatory readiness through expert mentorship.
- Scale inclusive insurance products that empower low-income Nigerians and build national resilience.
How to Apply
If you are passionate about transforming the insurance landscape in Nigeria and meeting the needs of underserved communities, do not miss this opportunity!
👉 Read more about the Programme
Need Help With Your Application?
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