Kenyan Agri-Insurtech Pula Named Earthshot Prize Finalist for Climate Resilience in African Farming

Pula, a Kenyan agricultural technology and climate-risk company, has been selected as a finalist for the prestigious Earthshot Prize in the "Fix Our Climate" category. This recognition highlights Pula's innovative approach to providing parametric insurance to smallholder farmers across Africa, a critical sector highly vulnerable to climate change impacts. The Nairobi-headquartered firm was chosen from nearly 7,000 global nominations, underscoring the significance of its work in developing anticipatory financial mechanisms for climate adaptation.

Pula's core offering, Area Yield Index Insurance, leverages satellite data, field monitoring, and historical yield records to automatically trigger payouts when harvests fall below predefined thresholds due to climate events like droughts or floods. This model bypasses the costly individual claims process of traditional insurance, making coverage viable for millions of dispersed smallholder farmers. By embedding insurance into existing agricultural programs, Pula has reached approximately 24 million farmers across Africa, facilitating over US$136.5 million in claims and covering more than US$2.8 billion in farming investments.

Beyond insurance, Pula has developed digital infrastructure that registers farmers and maps their plots, creating verified data crucial for connecting them to formal financial systems. This data layer can unlock access to credit, targeted subsidies, healthcare, and other essential services for rural populations often overlooked by commercial providers. The company's internal research suggests that 87% of insured farmers increased their farm investments after receiving coverage, demonstrating the transformative impact of de-risking their livelihoods.

The Earthshot Prize aims to support Pula in its ambition to reach 100 million farmers by 2030, fostering partnerships with governments, insurers, and financial institutions. This expansion is vital as demand for climate adaptation finance grows globally, with Pula projecting that 80 countries will need forecast-triggered funding for half their at-risk populations by 2030. For sub-Saharan Africa, where rain-fed agriculture is dominant and insurance penetration is low, Pula's model offers a pathway to economic stability and food security against escalating climate shocks.