Apowerful partnership between APA Microinsurance, VisionFund Kenya, and global climate Insurtech firm IBISA has launched two groundbreaking insurance products designed to protect Kenya’s most vulnerable communities from financial ruin caused by illness and extreme weather.
The new solutions, named ‘AfyaCash’ and ‘ClimaCash+’, aim to provide a critical safety net for Micro, Small, and Medium Enterprises (MSMEs), farmers, and households, enabling them to recover quickly from shocks that would otherwise devastate their livelihoods.
The initiative addresses two of the most pressing risks facing Kenyan families: health emergencies and the escalating impacts of climate change.
AfyaCash, which began operations in 2024, is a hospital cash benefit product. It provides policyholders with a daily cash payout for each day they are hospitalized, offering crucial financial support when an illness or injury disrupts their ability to earn an income. The product has already been seamlessly integrated into all loans disbursed by VisionFund Kenya, benefiting over 25,000 people.
Building on this success, the consortium has now introduced ClimaCash+, a first-of-its-kind parametric insurance product for APA. Unlike traditional insurance, which requires claims assessments, ClimaCash+ automatically triggers payouts when specific weather conditions—like drought, excessive rainfall, or heat—are met. This ensures rapid financial support for farmers and small businesses immediately after a climate disaster.
A pilot program for ClimaCash+, currently triggered by rainfall data, commenced in March 2025 and has already enrolled over 1,500 policyholders in Eldoret, Nyeri, Nyahururu, Narok, and Nyandarua. The partners plan to add more weather triggers and scale the solution nationwide.
Leaders Hail a Transformative Partnership
At the launch event, industry leaders emphasized the transformative potential of the new products.
Joseph Ogutu, Chairman of APA Microinsurance, stated, “Our partnership is built on a shared vision to co-create innovative, practical, and scalable solutions that address real-world challenges head-on… With ClimaCash+, we are taking an even bolder step forward to empower vulnerable and underinsured communities to withstand the growing impacts of climate change. Together, we aim to touch and transform over 10 million lives by 2030.”
Ashok Shah, Group CEO of Apollo Investments Limited, highlighted the dual focus of the products. “AfyaCash speaks to life protecting individuals and families when hospitalization disrupts income, while ClimaCash+ speaks to livelihood, safeguarding farmers and households when extreme weather threatens their survival. These innovations are designed to serve the underinsured, addressing emerging risks and empowering communities to build resilience.”
Reuben Mwaura, CEO of VisionFund Kenya, added, “This is more than insurance – it is an investment in a sustainable future. Through AfyaCash and ClimaCash+, our clients not only gain access to financial resources but also peace of mind.”
María Mateo, CEO & Co-Founder of IBISA, underscored the role of technology. “Through our parametric insurance expertise, ClimaCash+ ensures that payouts are fast, transparent, and fair. This innovation marks a new chapter for inclusive climate risk management in Kenya and beyond.”
The launch of AfyaCash and ClimaCash+ signals a significant step toward making financial protection a universal right in Kenya, championing a future where communities can thrive even in the face of uncertainty.