OKO

Name

OKO

Legal name

OKO Finance

Website

https://oko.finance

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Parametric Crop Insurance

NAICS

Insurance Agencies and Brokerages (524210), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

akta.pro secondary industries

Agriculture / Crop / Livestock Reinsurance (FSAOADAN), Facultative Agriculture & Parametric Reinsurance (FSAOAFAL)

Keywords

• Parametric crop insurance
• Mobile microinsurance
• Satellite weather insurance
• Agricultural climate insurance
• Farmer financial inclusion

Headquarters

HQ city

Bamako

HQ country

Mali

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Crop Insurance Premiums: OKO generates revenue through insurance premiums paid by farmers and partner organizations. Premiums are calculated based on coverage amount, indemnity frequency, and crop type. Farmers and partner institutions pay seasonal or annual premiums to obtain climate insurance coverage.
2. B2B Enterprise Insurance Solutions: OKO provides custom-made insurance solutions for groups including financial institutions and agro-industries. These enterprise clients pay for insurance that protects their agricultural loan portfolios or supply chains, with commissions and premium arrangements negotiated per partnership.
3. Partnership Commissions and Referral Fees: OKO earns commissions through partnerships with mobile network operators (Orange, MTN, Airtel) and microfinance institutions, generating associated revenues when farmers use these platforms to purchase and pay for insurance.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

OKO designs, prices, and distributes parametric crop insurance to smallholder farmers in Sub-Saharan Africa, with claims automatically validated and paid when satellite weather data detects droughts or floods. Insurance is sold to individual farmers via mobile phones and mobile-money wallets, and to groups via B2B partnerships with microfinance institutions, mobile network operators, and agro-industrial buyers across Mali, Uganda, Côte d'Ivoire, Mozambique, Senegal, Togo, and Angola. Reinsurance capacity is provided by Allianz Reinsurance, Sanlam-Allianz, and Jubilee-Allianz, and OKO operates a proprietary mobile and web distribution platform to reach farmers without smartphones or bank accounts.

Product overview

OKO provides a unified parametric crop insurance platform for Sub-Saharan Africa featuring climate index-based insurance products accessible via mobile phone. The platform consists of crop-specific insurance products across 10 African countries (Mali, Uganda, Ivory Coast, Mozambique, Senegal, Togo, Angola, plus planned expansion), a suite of proprietary distribution tools (mobile apps, web apps, APIs, CRM), and automated claims processing using satellite weather data. OKO offers individual farmer policies through its Insure a Field product and custom group solutions for financial institutions and agro-industries through its Enterprise solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Parametric Crop Insurance (Insure a Field) Individual parametric crop insurance policy that automatically validates and pays claims to smallholder farmers when satellite weather data detects adverse conditions (droughts or floods) affecting insured crops. Accessible via basic mobile phone without requiring a smartphone or bank account, with claims paid directly through mobile money.
• Enterprise / B2B Crop Insurance Solutions Custom-made parametric insurance solutions for groups including microfinance institutions, mobile network operators, and agro-industrial buyers to de-risk agricultural loan portfolios, expand wallet offerings, or secure smallholder supply chains. Includes group policies with indemnities of up to 58% of loan value paid directly to lenders when weather triggers occur.
• Mali Crop Insurance Country-specific parametric crop insurance for Mali covering maize, cotton, sorghum, peanut (groundnut), millet, and sesame. Available to anyone with a phone, with claims paid via Orange Money. Distributed through field agents and the Orange Money menu in Mali.
• Uganda Crop Insurance Country-specific parametric crop insurance for Uganda covering maize, soy, coffee, potato, and generic crops. Distributed in partnership with MTN Mobile Money and Jubilee-Allianz, with product design support from eLeaf.
• Côte d'Ivoire Crop Insurance Country-specific parametric crop insurance for Côte d'Ivoire covering cocoa, cotton, and maize. Distributed in partnership with Allianz Côte d'Ivoire, Touton (cocoa sector), and MTN Mobile Money, with underwriting supported by Allianz.
• Mozambique Crop Insurance Country-specific parametric crop insurance for Mozambique covering soy and tobacco crops, available through OKO's mobile distribution platform.
• Senegal Crop Insurance Country-specific parametric crop insurance for Senegal covering maize and cotton, available through OKO's mobile distribution platform.
• Togo Crop Insurance Country-specific parametric crop insurance for Togo covering maize, sesame, soy, and rice, available through OKO's mobile distribution platform.
• Angola Crop Insurance Country-specific parametric crop insurance for Angola covering maize, available through OKO's mobile distribution platform.

Quantifiable outcome

• Over 33,000 farmers protected across 5 African countries
• +5 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability3 records

Feature5 records

Partnerships

17 partnerships are on record, tiered minor and core.

• USAIDminorStrategic or Co-development Partner · 1 January 2025OKO was preparing three ambitious initiatives with USAID across Mali, DRC, and Côte d'Ivoire focused on climate insurance, rural youth empowerment, and crop expansion. All three projects were halted following the USAID shutdown. The projects are documented and ready for new partners to revive.
• Sanlam-AllianzcoreTechnology or Integration · 1 January 2024OKO's insurance products are underwritten by Sanlam-Allianz through a multi-year partnership. This provides additional reinsurance capacity and market expansion support.
• Airtel MoneycoreChannel Partner/ Reseller/ Distributor · 1 January 2024OKO integrates with Airtel Money for mobile payment solutions alongside Orange, MTN, and Wave platforms, enabling broad mobile money coverage across its operating markets.
• VisionFund / RMCRcoreChannel Partner/ Reseller/ Distributor · 1 January 2023VisionFund Mali (RMCR, part of VisionFund network) partnered with OKO in 2023 to offer crop insurance to their agricultural loan customers. In 2023, 31% of customers were indemnified after adverse weather, and indemnities of up to 58% of loan value were paid directly to the financial institution.
• MTN Mobile MoneycoreChannel Partner/ Reseller/ Distributor · 1 January 2022OKO is integrated with MTN Mobile Money in Ivory Coast and Uganda for premium collection and claim payouts, enabling farmers without bank accounts to access insurance through MTN's mobile wallet.
• ToutoncoreStrategic or Co-development Partner · 1 January 2022French agro-industrial group Touton partnered with OKO in 2022 to offer index insurance to cocoa farmers in Ivory Coast. Touton sources from 50,000 small producers in Côte d'Ivoire. The partnership brought OKO's crop insurance distribution technology to millions of cocoa farmers, with OKO launching in Ivory Coast at Touton's request.
• Allianz ReinsurancecoreTechnology or Integration · 1 January 2019Allianz and OKO initially signed an agreement in 2019 to test OKO's concept in Mali. Allianz provides underwriting and reinsurance for OKO's crop insurance products. The partnership was renewed in 2024 as a multi-year agreement. OKO brings data-science expertise and mobile distribution technology; Allianz assists in underwriting and reinsuring crop insurance products. The partnership expanded to Uganda (Jubilee-Allianz) and Ivory Coast (Allianz Côte d'Ivoire).
• Orange Money (Orange Mali)coreChannel Partner/ Reseller/ Distributor · 1 January 2018OKO is integrated into the Orange Money menu in Mali, enabling farmers to pay premiums and receive payouts via Orange Money. OKO won the Orange Social Venture Prize in 2018. Orange Mali enriched its service portfolio with OKO's insurance, and many farmers created Orange Money accounts specifically to access OKO's insurance.
• WaveminorChannel Partner/ Reseller/ DistributorOKO integrates with Wave mobile wallet operator alongside other mobile money platforms for premium collection and claim payouts across its markets.
• eLeafcoreTechnology or IntegrationOKO sells products designed by eLeaf in Uganda and collaborates on product designs in Mali. eLeaf provides weather index product design expertise and actuarial support for OKO's offerings in East Africa.
• Jubilee-AllianzcoreTechnology or IntegrationOKO expanded to Uganda in collaboration with Jubilee-Allianz for insurance product underwriting and reinsurance, in addition to its existing eLeaf product design partnership.
• AB InBevcoreChannel Partner/ Reseller/ DistributorOKO's insurance protects farmers from climate risks and secures the supply chain for large buyers including AB InBev. OKO helps companies achieve their sustainability objectives by protecting smallholder farmers in their sourcing networks.
• OlamcoreChannel Partner/ Reseller/ DistributorOKO works with agro-industrial companies including Olam. Insurance secures supply chains for large food, textile, or beverage companies and helps them achieve sustainability objectives.
• GSMA Mobile for DevelopmentminorStrategic or Co-development PartnerOKO is featured in GSMA Mobile for Development reports on agricultural insurance for smallholder farmers and digital innovations for scale.
• UNDP Digital XminorStrategic or Co-development PartnerOKO featured on UNDP Digital X platform for mobile-delivered crop insurance for farmers.
• Norwegian Humanitarian Innovation ProgrammeminorStrategic or Co-development PartnerOKO featured in the Norwegian Humanitarian Innovation Programme article on scaling up gender-focused crop insurance.
• UN WomenminorStrategic or Co-development PartnerUN Women partnered with OKO to make agriculture insurance more accessible for women in Mali and better tailored to their needs. Lorenzo Rovelli, Innovation Project Coordinator for UN Women, commented on OKO's technical expertise and gender-transformative approach.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Others

• aWhere: aWhere provides agronomic and weather data services to agricultural insurance and agri-businesses globally. It is an enabling technology peer whose satellite weather data and analytics capabilities are similar to those OKO integrates into its parametric product design.

Direct peers

• Pula Advisors: Pula is a direct competitor offering parametric and traditional crop insurance to smallholder farmers across Africa, using similar bundling with input providers and lenders. Both companies target the same climate-vulnerable farmer segment with bundled agri-risk solutions.
• ACRE Africa: ACRE Africa (Agriculture & Climate Risk Enterprise) is a direct peer providing weather-index based crop and livestock insurance to smallholder farmers in East and Southern Africa. It links insurers, reinsurers, and distribution partners in a model structurally similar to OKO.
• Ibisa: Ibisa operates a parametric index insurance platform for agricultural and climate risk in developing countries, working with local insurers and reinsurers. It overlaps with OKO on product design, satellite-based triggers, and emerging-market farmer segments.
• WorldCover (formerly World Cover Crops): WorldCover provided parametric crop insurance to smallholder farmers in emerging markets (acquired by AXA Climate in 2023). It is a direct precedent for OKO's model and customer segment in Africa and was one of the most cited comparables in the parametric African agri-insurance space.

Broad incumbents

• MicroEnsure (now Inclusivity Solutions): MicroEnsure / Inclusivity Solutions is a larger, established microinsurance provider serving emerging markets across Africa and Asia with life, health, and agricultural products. It overlaps with OKO on customer segment (low-income, mobile-first) and channel (MNO and MFI partnerships) but offers a broader product portfolio.
• BIMA (Milvik): BIMA provides mobile-delivered microinsurance and health products in emerging markets via MNO partnerships. It overlaps with OKO on the mobile distribution model targeting unbanked customers, but does not focus on parametric crop insurance.
• Swiss Re / Swiss Re Institute: Swiss Re is a major global reinsurer with parametric crop and climate risk capacity in Africa. It sits one layer upstream of OKO as a potential reinsurance provider and competes with Allianz Re in the parametric agriculture reinsurance space relevant to OKO.

Emerging players

• CropIn: CropIn offers an agri-intelligence platform with farm-level data, advisory, and risk management for agribusinesses in emerging markets. It overlaps with OKO on serving smallholder farmer networks and corporate supply-chain partners, but from a digital agronomy rather than insurance angle.
• Etherisc: Etherisc builds decentralized parametric insurance protocols with a focus on crop and travel products in emerging markets. It targets a similar parametric crop insurance use case as OKO but uses blockchain infrastructure and partners rather than direct insurance distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@OkoInsurance
• Facebookfacebook.com/OKOInsurance
• LinkedInlinkedin.com/company/oko-solutions
• Instagraminstagram.com/oko_insurance
• Xx.com/OKO_insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds10 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OKO