Now reading: A decade of microinsurance innovation: promising or ‘meh’?

Insurance for development


Governments and donors are increasingly recognising the potential of insurance and improved risk management to contribute to broader policy and development objectives. They do this, for example, through the de-risking of value chains to improve productivity, using data to predict and manage risks, supporting enterprises through improved risk management and supporting the development of capital markets to contribute to growth.

Our research explores the potential opportunities to contribute to these policy and development objectives through better risk management and insurance.

Some of the key questions we are exploring are:

Explore our work and contact us for more information.

Africa’s financial service providers
Behavioural Science

The application of behavioural interventions

As we explore how behavioural science can narrow the gap between customer intention and customer action, we have started to look at examples from specific financial services. Two sectors identified as playing a role in improving the lives of the financially excluded are insurance and formal remittances. Behavioural interventions and

Digital Transformation & Data

A decade of microinsurance innovation: promising or ‘meh’?

In October 2023, Doubell Chamberlain spoke to Rishi Raithatha about the impact that innovation and technology has had on the microinsurance market over the last 10 years. This is a short excerpt from the full interview. You can read more of the interview on the MicroInsurance Network site. Q: What

Exploring insurtech
Digital Transformation & Data

Insurance regulation and innovation: An assessment of 8 African insurance markets

To support regulatory authorities in sub-Saharan Africa in promoting inclusive insurance market development, there is a need to strike a balance between innovation and the accompanying risks that arise. FSD Africa set up the Risk, Resilience and Regulatory Lab (R3Lab)  as a platform for capacity-building and peer exchange to assist regulators deliver on

Insurance for development

What will it take to build innovative insurance markets in Sub-Saharan Africa?

Despite the best efforts of sub-Saharan African (SSA) insurers, most African citizens and small businesses do not yet have insurance. Our recent research in eight countries – Kenya, Ghana, Nigeria, Rwanda, Ethiopia, Zimbabwe, Uganda and Malawi – shows that more than two-thirds of these populations remain without any form of

Webinar: Building the resilience of MSMEs in Uganda - Insights for the financial sector
Insurance for development

Holistic risk solutions for MSME resilience in Egypt

Micro, small and medium-sized enterprises in Egypt Micro, small and medium-sized enterprises (MSMEs) play a fundamental role in the Egyptian economy – they drive more than 80% of GDP growth and 40% of total employment – but they face considerable risks that hinder their ability to thrive. Insurance could bolster

Nairobi, Kenya - February 6, 2014: Ripe fruits stacked at a local fruit and vegetable market on February 6, 2014. Nairobi, Kenya. The market is frequently visited by locals and tourists.
Insurance for development

Private sector partnerships for MSME resilience: Learnings from Africa

Opportunities await insurers and tech providers who are willing to work together Insurance is a key tool that provides businesses with protection and resilience against risks and that enables them to better bounce back from shocks experienced. However – despite its potential positive impact – micro, small and medium enterprises

African Fintech Radar
Insurance for development

Insurance Innovation Dialogue

About the Insurance Innovation Dialogue  To support insurance regulatory authorities in sub-Saharan Africa strike a balance between innovation and risk, FSD Africa set up the R3LAb as a platform for capacity building and peer exchange among regulators. In this process, FSD Africa partnered with Cenfri to conduct a study that

Insurance for development

Insurance supervisors’ responses to COVID-19

Importance of insurance amplified by COVID-19 pandemic  The COVID-19 pandemic constitutes one of the largest recent shocks to the African continent and has amplified the importance of the insurance sector’s role in development and supporting the resilience of businesses and individuals. Insurance can help manage risks and transfer funds to

Understanding insurance distribution and automation in Africa
Insurance for development

Understanding insurance distribution and automation in Africa

Limited digitalisation of the insurance sector in Africa constrains uptake. Less than 10% of adults across nine sub-Saharan African countries have private insurance. The low uptake is in part due to high delivery costs and low levels of digitalisation. African insurers, banks and brokers typically rely on manual processes for selling

Opportunities for remittance-linked insurance products in SSA
Insurance for development

Opportunities for remittance-linked insurance products in SSA

A demand-side perspective of the risk management and resilience needs of remittance senders from South Africa to Ghana, Malawi and Zimbabwe   Remittance-linked insurance products (RLIPs) are insurance products distributed by remittance service providers. These products have great potential to positively impact livelihoods in sub-Saharan Africa. They cover the risks of