Lami is on a mission to change the narrative in a continent where insurance penetration stands at a mere 3%. Founded by Kenyan entrepreneur Jihan Abass, Lami is an insurtech startup that seeks to make insurance accessible and affordable for millions of Africans.
Lami’s approach focuses on building trust, delivering value, and establishing security through a customer-centric experience. Their platform and apps are designed to be inclusive, scaling solutions to fit various customer sizes, market spaces, and insurance types.
Lami enables easy integration of various types of coverage into enterprises, making insurance more accessible. The startup has raised a $3.7 million seed extension led by Harlem Capital. With this funding, Lami plans to expand its insurtech product across Africa, targeting countries like Egypt, Nigeria, and Uganda.
The company has already made considerable progress by integrating micro-insurance partnerships and closing over 15 B2B2C partners, reaching 3 million people. It aims to increase insurance coverage in Africa by bridging the insurance gap with affordable “bite-sized” premiums.
By automating underwriting and claims processes, Lami offers seamless insurance products that meet users’ needs. This allows businesses to co-create products, improve risk profiling, and provide personalized experiences with automated claims filing and reduced premiums.
As Lami continues to grow and expand, its impact on Africa’s insurance terrain is poised to be notable. With its customer-centric approach, powerful platform solution, and pricing model, Lami is democratizing insurance and improving lives across the continent.