Mobile delivered crop insurance for farmers.
Techstars Fintech accelerator (Tel Aviv), Fit4Start (Luxembourg), Google for Startups SDGs, 100+ Accelerator, Microsoft AI for Good, Katapult Africa.
OKO tackles the problem of smallholder unbanked farmers with crop insurance that is universally accessible (no need for a bank account, an internet connection or a smartphone), affordable and automated. This helps UNDP address the following challenges: Under "inclusive growth": Their solution is a digital tool that enhance access to finance (insurance and credit) to a population that was previously excluded from these services. Under crisis response: OKO is a digital tool that supports the reactivation of agricultural activities following a damaging weather event. OKO helps building more resilient livelihoods, with insured farmers being able to overcome a bad season without having to move to the city or sell their assets.
OKO secures farmers' income in emerging countries using automated insurance solutions. OKO is accessible to anyone with a phone and claim payments are automated using satellite data and images.
Oko has developed distribution tools to make its insurance product accessible to all. Its USSD menu makes crop insurance available to anyone who has a phone (no smartphone, data, or even credit is required). OKO's call center is trained in local languages for each market and customers can request a call-back at any time. There are no forms to sign and all information is available via WhatsApp voice notes or via its voice server, meaning that illiterate customers can still understand the benefits of insurance and register.
Ivory Coast - Partnerships with Orange, Wave, Touton, and Allianz are currently underway. Mozambique - Partnerships with Fidelidade and British American Tobacco Morocco - Partnerships with Saham-Sanlam