Britam's BetaLab: Reimagining the Future of Insurance

In a world of rapid change, Britam doesn't just adapt; we lead the way. That's why we created BetaLab, our dynamic incubation hub where innovators bring disruptive solutions to life and shape the future of insurance.

What is BetaLab?

BetaLab is a corporate acceleration program that explores acquisitions and collaborations with technology-driven startups and innovators solving challenges within the financial services industry. The lab's mission is to incubate, innovate, and accelerate startups, nurturing and empowering innovation among internal staff while exploring opportunities with insurtech and fintech companies.

Key features of BetaLab

• Corporate Acceleration Program:We actively seek out technology-driven startups and innovators, fostering collaborations to address challenges within the financial services industry.
• Six-Month Internship Program: Students and graduates are offered an optimal environment to acquire hands-on experience, access to resources for implementing their ideas, and prepare for integration into the market.
• Incubation and Co-Creation Environment:We offer an ideal space for startups, corporates and established global tech firms like Visa and Amazon Web Services to collaborate and innovate.
• Workshops and Mentorship:Collaborative workshops with key innovation stakeholders to identify promising ideas and help them flourish.

Hackathons and Events

• Conferences:We participated in the AI Conference in Kenya 2024 and Kenya Innovation Week 2023. 
• Sponsorships:We were a sponsor of the Moringa Hackathon in 2023. 
• Hosted Events:We hosted the Hack Beyond Hackathon at the University of Nairobi in 2023. Three startups emerged as winners: AkiliKash, InvestaFarm, and Bimr.

Success Stories

BetaLab has already facilitated the growth of several impactful startups:

• AiCare:In collaboration with Britam, AiCare developed Motomatic, a web and app platform providing mileage-based motor insurance coverage.
• Karopay:This education tech startup worked with Britam on M-SOMA, a mobile-based savings platform supporting educational initiatives.

Intern Cohorts: We are proud to have mentored three internship cohorts, who have successfully transitioned into roles as data scientists and full-stack app developers at various companies following successful stints in our organization.

Looking Ahead

• BetaLab is poised to conduct more workshops to train, brainstorm, and mentor startups and innovators. These workshops, conducted in collaboration with key institutions, will focus on identifying and scaling promising ideas.
• BetaLab will facilitate investor pitches and funding, promote an innovation-driven culture within Britam, and proactively scout for promising startups and innovators. Our active participation in innovation events will contribute to and enrich the broader innovation ecosystem.

Join the Conversation!

Are you a passionate entrepreneur with a game-changing insurtech or fintech idea? We'd love to hear from you! Let's connect and explore how BetaLab can help you turn your vision into reality.

You can reach out to us Betalab@britam.com or visit our page to learn more https://britam.com/about-us/betalab