The Microinsurance Challenge Fund 2019

Financial Sector Deepening Uganda (FSDU) is an independent not-for-profit company committed to promoting greater access to financial services in Uganda.

FSD Uganda seeks to develop a more inclusive financial sector with a focus on low-income individuals (particularly women) and Micro, Small and Medium Enterprises (MSMEs). They support innovation, conduct research, help promote and improve policy, laws, and regulation that shape the financial sector in Uganda.

Microinsurance is any form of insurance that is targeted at, accessible to and/or used by lower-income consumers. The principal distinction from traditional insurance is in the targeting of low-income people, which leads to distinct characteristics and objectives, including addressing the particular risks of low-income people, affordability and inclusiveness, simplicity and distribution requirements and processes to build trust among target clients.

How poor do people have to be for their insurance protection to be considered “micro”? The answer varies by country, but the Microinsurance Challenge Fund (MCF) is generally interested in coverage for persons who are not presently served or are underserved by mainstream commercial and social insurance schemes. Consequently, the MCF is about making insurance accessible by everyone especially the underserved or unserved market segments.

The Microinsurance Challenge Fund

The Microinsurance Challenge Fund (MCF) is FSDU’s new innovation facility aimed at increasing the availability and usage of appropriate insurance solutions by people in Uganda in the underserved and unserved market segments.

The Microinsurance Challenge Fund is a response to a market failure arising from a mismatch between demand and supply of inclusive insurance services which largely accounts for the low insurance penetration in Uganda.

Uganda’s National Financial Inclusion Strategy (NFIS 2017-2022), recognizes the weak insurance uptake among Ugandan’s and objective 4 of this national strategy aims to increase the uptake of insurance among Ugandans. The Microinsurance Challenge Fund aims to contribute to national initiatives aimed at improving insurance uptake.


The following organizations are eligible to submit proposals to the MCF. Any of the organizations listed below or in combination with a partner can apply to the MCF

  • Insurance companies
  • Fintechs
  • Financial institutions (MFIs and commercial banks)
  • Community-based financial organizations
  • Insurance brokers o Payment service providers
  • Mobile network operators
  • Non-government organizations
  • Utility companies
  • Retail shops o Associations

How to Apply

Applications are to be sent to concepts@fsduganda.or.ug  with the subject “Application for the Microinsurance Challenge Fund (MCF)”.

Any queries or questions about the process can be made by an email request with the title “Inquiry on Microinsurance Challenge Fund“ to jmuhumuza@fsduganda.or.ug

Download the;

  1. Detailed Request for Proposals (RFP) 
  2. Application Form

Deadline: 5th February 2019


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