Pula, a Kenyan tech firm with continental footprints has scooped the tech award at the 6th annual African Insurance Awards.
The company was recognized for its role in managing over 4.3 million smallholder farmers through their Area Risk Index and yield insurance product.
The company also bundles digital services, for instance SMS agronomy tips during the planting season.
Speaking after receiving the award held in Lagos, Nigeria, Pula co-founder Thomas Njeru said the award is a recognition for the company’s efforts in Agriculture Insurance and promoting farmers in livestock and crop farming to food security.
“This award is a testimony to the significance of pula’s mission of protecting smallholder farmers in Africa,” Njeru said.
Another co-founder, Rose Goslinga credited the award to employees and partners.
''With this award we are optimistic that agriculture insurance will be a necessary product that will help transform agriculture industry in Africa,” Goslinga said.
Pula carries out Crop Cut Exercise on farms after harvest to determine compensation for farmers. As a result, smallholder farmers have received total compensation of up to $20 million.
African farmers are exposed to various climate risks including excessive rainfall, drought, pests and diseases that affects production.
The firm specialises in Agriculture Insurance and provides levers to connect participating farmers with regional and global reinsurance firms to mitigate such risks.
Other Pula partners include WFP, IFAD, One Acre Fund Vision Fund, and governments of Kenya, Nigeria, Uganda, Malawi, Mali, Senegal, Zambia, Tanzania, Rwanda, Ethiopia, Central Republic, Mozambique and India.