Mastercard and Hillcroft (mTek) Unveil Embedded Insurance to Deepen Financial Inclusion
Posted by JIM MWANDA
Mastercard has partnered with Kenyan Insurtech firm Hillcroft (mTek) to roll out embedded insurance solutions across East Africa, integrating affordable coverage directly into consumer and SME card transactions.
Nairobi Kenya
In Summary:
Mastercard has partnered with Kenyan Insurtech firm Hillcroft (mTek) to roll out embedded insurance solutions across East Africa, integrating affordable coverage directly into consumer and SME card transactions. The move is expected to expand financial inclusion by making insurance accessible within the payment platforms millions already use.
In a bold step toward transforming financial services in Africa, Mastercard has announced a strategic collaboration with Hillcroft (mTek) to integrate insurance directly into digital payment systems. The partnership, unveiled in Nairobi, is set to make insurance as simple as swiping a card; extending protection to consumers, small businesses, and farmers across East Africa.
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The collaboration marks Mastercard’s debut in the embedded insurance space in the region, signaling a shift toward digital-first, inclusive financial ecosystems. Insurance penetration in East Africa currently hovers below 3%, largely due to high premiums, limited awareness, and complex onboarding processes. Mastercard and mTek’s approach seeks to break that cycle by delivering insurance at the point of transaction.
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“By bringing insurance directly into the payment experience, we are removing friction and making protective cover accessible to millions,” said Shehryar Ali, Mastercard’s Senior Vice President and Country Manager for East Africa and the Indian Ocean Islands. “This is about resilience and inclusive growth — from a farmer selling produce to a merchant running a shop.”
For Hillcroft (mTek), the initiative aligns with its mission to reimagine insurance access through technology. The Nairobi-based Insurtech has been building digital bridges between insurers, consumers, and financial institutions. Its partnership with Mastercard now brings scale and infrastructure to that vision.
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“At Hillcroft, our mission has always been to simplify insurance access,” said Bente Krogmann, CEO of Hillcroft (mTek). “Partnering with Mastercard allows us to connect with millions of consumers and SMEs through trusted payment channels — delivering solutions that are simple, affordable, and life-changing.”
Beyond convenience, the partnership is also strategic. SMEs make up more than 90% of East Africa’s businesses and face recurring risks; from crop failure to supply disruptions — without adequate protection. Embedding insurance into digital transactions could become a safety net for this critical segment, strengthening the backbone of the region’s economies.
The rollout will also involve collaboration with financial institutions, insurers, and telecom providers to create a wider ecosystem that combines virtual cards, mobile wallets, and insurance under one roof. Hillcroft (mTek) will handle direct API integration with underwriters, ensuring seamless product delivery and innovation at scale.
Industry analysts see this model as a blueprint for Africa’s next wave of inclusive finance. By leveraging technology and trusted payment networks, embedded insurance could replicate the success of mobile money — turning an often-overlooked financial product into an everyday essential.
As Mastercard and Hillcroft (mTek) prepare for implementation, the partnership underscores a growing trend: Africa’s fintech revolution isn’t just about payments anymore. It’s about protection, resilience, and giving more people the confidence to participate in the digital economy on their own terms.
