MIT Solve

Solution Overview

Solution Name:

senteuganda

One-line solution summary:

senteuganda provides easy, accessible and affordable insurance services to all Ugandan. with senteuganda, every ugandan

Pitch your solution.

senteuganda helps farmers and other low income earners like market vendors, street vendors to have access to insurance services with its positive benefits to not only to individuals but to the whole economy , with affordable insurance services , every ugandan can save to access better healthy services , better education , reducing level of subsistence sector in agriculture by buying expensive machinery . saving is also a driver for capital accumulation which fuels to reduce viscious circle of poverty in uganda

according to recent presidential address on population , 6% of ugandan have remained peasant farmers and cant have access to the insurance services this is because the other insurance companies doesn't favor their levels of income

Film your elevator pitch.

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What specific problem are you solving?

80% of Ugandan are low income earners earning a dollar or less per day , the available insurance companies only favor the 20% that are involved in service sector leaving majority of the population without the insurance service . this leaves people with low incomes for the rest of their lives and thus fueling for vicious circle of poverty that has been disturbing Uganda and its neighbors for decades because the risks there are involved in are not taken care of . savings is crucial for capital accumulation which is the biggest driver of growth not only to individual but to both the company and the country at large .with insurance , customers are relieved from fear related to climatic changes, diseases,

Who does your solution serve, and in what ways will the solution impact their lives?

our solution tackles risks involved in agricultural sector like frequent changes in season, frequent changes in prices of agricultural products.

we are mainly focusing on Ugandan with low incomes especially those that are involved in agriculture like the market vendors , peasant farmers , street vendors of agricultural products , this is because agriculture is the back born of the our economy and little efforts have been done both by the government and other stakeholders . with access to insurance services ,farmers can have stable incomes , have access to better education , purchase improved farming equipment's , use our insurance policies to access loans in the bank as most of them don`t have access to loans due to lack of collateral security . this is because after a person insuring with us for a certain period of time , he get his money at end of that specified time in lump sum plus accrued bonuses . this can help him solve all his problems

Which dimension of the Challenge does your solution most closely address?

How can countries ensure that digital authentication mechanisms—which often require smartphones, computers and internet access—are accessible to marginalized and vulnerable populations to facilitate remote access to services and benefits?

Explain how the problem, your solution, and your solution’s target population relate to the Mission Billion Challenge Global Prize and your selected dimension.

senteuganda looks at reducing income inequality among the Ugandans and ensuring all Ugandans have access to social services like insurance in health, finance, education and we have made sure every one has access to insurance services and are included in the development of the country and the world at large

Where is your solution team headquartered?

Kampala, Uganda

What is your solution’s stage of development?

Growth: An individual or organization with an established product, service or model rolled out, which is poised for further growth in multiple locations.

Who is the primary delegate for your solution?

kamugisha Christopher chief financial officer