Jamii.one

Idea

Introduction

With more than 320,000 users joining the our platform in the past year and over 50,000 buying an insurance through our platform, Jamii.one is demonstrating that there is a huge need for access to affordable insurance in Ethiopia to shield families and communities from financial shock.

In the absence of insurance coverage, loosing you partner can have huge consequences such as the loss of your home and the ability to support your children. Today, less than 1% of Ethiopians have insurance as it is too expensive due to lack of digital infrastructure and data.

Jamii.one is here to revolutionise the insurance sector with its digital platform and collaboration with local community.

With our incredible growth, Jamii.one is now fundraising to reach more of the 40 million people in Ethiopia organised under these community groups and create a lasting safety-net for Ethiopian communities and families.

Substantial accomplishments to date

Jamii.one has managed to build a scalable and flexible digital platform in close collaboration with various types of community groups and more than 1,000 end-users. This has resulted in a platform that people with limited digital experience can use, that works offline, can be used on an older android phone without taking up much space, uses a minimum of data, is available in three local languages and even offers the Ethiopian calendar.

Over five years, we have built the trust in local communities and developed a roll-out engine that is bringing knowledge about technology and insurance to people without prior experience. A significant portion of our user base comprises elderly individuals who have had limited exposure to technology. The training is brought to the communities by our incredible Jamii.one Promoters, creating jobs for local Ethiopians.

Our digital platform, trust built in local community and amazing Promotors have led to Jamii.one today having:

- Over 400,000 users on the Jamii.one platform

- Over 50,000 users that have bought a life insurance

- And several recognitions including: UNDP Digital X, Mastercard Lighthouse MASSIV, Danish Digital Awards and Inclusive Fintech 50.

Monetisation strategy

Jamii.one partners with insurance companies to avail tailor-made insurance products for our users. We charge our insurance partners a data fee, a percentage of the annual premium value, for every month/year the users stay with the insurance provider.

We are building a financial engine with a goal to ending poverty with communities. We made impact into a self-sustaining business model. For every user we insure, we generate a revenue that allows us to serve two more people.

- In the past year, we have onboarded 320,000 new users, 50,000 of whom have bought an insurance equalling a conversion rate of +15%.

- Our one-to-many approach reduces costs and allows us to have AOV/CAC of 2:1 and a CLV/CAC of 15:1

Use of proceeds

amii.one is already live in several regions with more than 30,000 new users signing up on our platform per month, and we are fundraising on our mission to achieve the below goals:

- Reach 2.3 million users

- Insure 1 million people

- Achieve breakeven

Our aim is to reach an Annual Recurring Revenue or ARR of €5M by end of 2025.

We are also looking to expand our product offerings. Currently, our users can buy life insurance from our insurance partner Nib Insurance Company. However, 85% of users who completed our survey have stated that they are interested in more insurance products through Jamii.one with a high interest in health insurance products.

The Jamii.one team is incredibly excited to expand our operations and product offerings and create an even bigger impact on the ground in Ethiopia, while creating the foundation to take this Danish-Ethiopian innovation to more countries.