Cenfri has deep insurance expertise from working with the insurance markets in Africa, Latin America and Asia. Insurance penetration in these markets is often low and we understand the need for responsible market innovation so that insurance fulfils its optimal role in building resilience, supporting business growth, and contributing to broader policy and development objectives.
The breadth of Cenfri’s insurance and resilience work spans diagnostic studies, development of global and regional standards and national regulations, technical assistance and innovation support (to regulators and the private sector), innovation studies, MSME-tailored resilience solutions, improved risk management in response to climate-related events, and definitive work on cell captives.
Our partners include GIZ, Access to Insurance Initiative (A2ii), the UK’s FCDO (formerly DFID), the FSD Africa and other financial sector deepening trusts, the Swiss Capacity Building Fund, FSCA, Hollard, Santam, Old Mutual, AXA, Britam, Generali, the Microinsurance Network, UNCDF, UNDP, The World Bank, IFC, IADB and ADB.
Most providers of health microinsurance have struggled to achieve sustainability without public or donor support, despite health insurance being one of the most sought-after microinsurance products in many regions of the developing world. A lack of data and adequate skills for pricing, as well as the challenges around effectively forming
Mobile insurance (m-insurance) can play an important role in enhancing access to insurance, especially in regions where distribution and reach pose challenges to serving the market. Due to the significant penetration of mobile phones, airtime vendors, and mobile money agents, m-insurance initiatives have the potential to reach scale almost overnight.
Credit life insurance may be the first type of insurance that many low-income consumers encounter. It can offer an opportunity for introducing consumers to the concept of insurance or lead to consumer protection concerns if consumers are not aware that they have insurance, or if a captive market leads to
Retailers in South Africa provide a range of financial services that include credit, insurance, money transfer and savings products. By identifying the key factors that influence the decision to use financial services from retailers this study aims to position the current and potential role of retailers in servicing the financial
An update on microinsurance in South Africa. In 2011, a policy document entrenched and refined a proposed microinsurance regulatory framework for South Africa that was envisaged to be incorporated into a forthcoming Microinsurance Act and subordinate legislation. However, in 2013 the decision was made to no longer pursue standalone microinsurance
M-insurance – insurance sold through or with a mobile network operator (MNO) – has gained significant attention in recent years due to its rapid growth in African and Asian markets and its potential to grow inclusive insurance markets. However, not all schemes have had the same success. In Zimbabwe, the
Insurers are using mobile phones to address two main challenges facing the microinsurance sector: increasing efficiency and reaching scale. By leveraging mobile phone infrastructure insurers have made processes more efficient across the insurance value chain; reducing turnaround times for enrolment, premium collection, claims processing; lowering costs; and bridging geographical distances.
Achieving scale is a significant success factor for microinsurance schemes, as low premiums with high costs require substantial volumes to make an initiative sustainable. However, achieving scale is difficult. This report analysed 95 initiatives that achieved scale and evaluated eight case studies in detail to understand what drives scale. The
Increasingly, the mobile phone is being used throughout the microinsurance value chain to enable access to insurance for millions of people who otherwise would have no cover. CGAP’s recent brief notes that mobile microinsurance products are not only growing in number with 15 new products launched in the first eight
SADC faces high levels of exclusion in insurance. It is therefore appropriate for SADC supervisors to pursue inclusive insurance markets based on international guidance. Since the vast majority of SADC populations are excluded from insurance, it also holds that retail markets are extremely small. Microinsurance can, therefore, form a foundation for
Most providers of health microinsurance have struggled to achieve sustainability without public or donor support, despite health insurance being one of the most sought-after microinsurance products in many regions of the developing world. A lack of data and adequate skills for pricing, as well as the challenges around effectively forming
Mobile insurance (m-insurance) can play an important role in enhancing access to insurance, especially in regions where distribution and reach pose challenges to serving the market. Due to the significant penetration of mobile phones, airtime vendors, and mobile money agents, m-insurance initiatives have the potential to reach scale almost overnight.
Credit life insurance may be the first type of insurance that many low-income consumers encounter. It can offer an opportunity for introducing consumers to the concept of insurance or lead to consumer protection concerns if consumers are not aware that they have insurance, or if a captive market leads to
Retailers in South Africa provide a range of financial services that include credit, insurance, money transfer and savings products. By identifying the key factors that influence the decision to use financial services from retailers this study aims to position the current and potential role of retailers in servicing the financial
An update on microinsurance in South Africa. In 2011, a policy document entrenched and refined a proposed microinsurance regulatory framework for South Africa that was envisaged to be incorporated into a forthcoming Microinsurance Act and subordinate legislation. However, in 2013 the decision was made to no longer pursue standalone microinsurance
M-insurance – insurance sold through or with a mobile network operator (MNO) – has gained significant attention in recent years due to its rapid growth in African and Asian markets and its potential to grow inclusive insurance markets. However, not all schemes have had the same success. In Zimbabwe, the
Insurers are using mobile phones to address two main challenges facing the microinsurance sector: increasing efficiency and reaching scale. By leveraging mobile phone infrastructure insurers have made processes more efficient across the insurance value chain; reducing turnaround times for enrolment, premium collection, claims processing; lowering costs; and bridging geographical distances.
Achieving scale is a significant success factor for microinsurance schemes, as low premiums with high costs require substantial volumes to make an initiative sustainable. However, achieving scale is difficult. This report analysed 95 initiatives that achieved scale and evaluated eight case studies in detail to understand what drives scale. The
Increasingly, the mobile phone is being used throughout the microinsurance value chain to enable access to insurance for millions of people who otherwise would have no cover. CGAP’s recent brief notes that mobile microinsurance products are not only growing in number with 15 new products launched in the first eight
SADC faces high levels of exclusion in insurance. It is therefore appropriate for SADC supervisors to pursue inclusive insurance markets based on international guidance. Since the vast majority of SADC populations are excluded from insurance, it also holds that retail markets are extremely small. Microinsurance can, therefore, form a foundation for
