Kenyan Insurtech Startup Lami Acquires Bluewave And Sets Its Eyes On Malawi And DRC

Kenyan insurtech startup Lami Technologies has acquired Bluewave Insurance Agency for an undisclosed amount as it seeks to make insurance covers accessible to more people across Africa.

The deal has also opened up new markets for Lami, which states that its technology enables underwriters and businesses to streamline insurance via a single platform, in Malawi and the Democratic Republic of Congo where Bluewave already has operations.

Bluewave insurance, also a Kenyan startup, was founded by Adelaide Odhiambo, who now joins Lami as the head of commercial partnerships.

Since its inception, Bluewave has invested in building cutting-edge technology for its online platform that enables its clients to access micro-insurance products through diverse channels such as USSD, SMS, WEB Applications, IVR, telemedicine, mobile application support medical business among others, reported techeconomy.

Lami will reportedly integrate and repurpose Bluewaves technology into its core technology platform enhancing its B2B2C capabilities for partners and customers while introducing features such as USSD, WhatsApp bots, and claims dashboards.

During an interview about the acquisition, Lami Technologies founder and CEO Jihan Abass told TechCrunch, “One of the things that really made us excited about this opportunity was the fact that we are working towards a very common vision of democratizing access to insurance. Our visions were very much aligned.”

“The Bluewave team had created modules (like USSD-based micro-insurance products), which we felt could particularly enhance our B2B2C offerings. They’ve done quite a lot of work around claims modules for micro-insurance products.

” All these different things can be integrated into the core Lami platform. We can also continue to build on top of it, and also use parts of our technology to enhance offerings, like our advanced pricing modules, to make that experience much better,” said Abass.