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.
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
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
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
Insurers can partner with digital platforms, lenders and insurance aggregators to offer better products that matter for MSMEs. Despite being heavily underfinanced, micro, small and medium enterprises (MSMEs) are critical drivers of economic growth and contribute substantially to employment and innovation. They account for 50% of global employment and 90%
A changing climate affects everyone, but it’s the world’s poorest and most vulnerable, predominantly women and girls, who bear the brunt of environmental, economic and social shocks (IPCC, 2022a). For example, figures from the United Nations show that 80% of people displaced by climate change are women (Halton, 2018). There
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
The GIZ Compendium on how to improve insurance for MSMEs in a number of countries. The work compiled in this compendium includes knowledge-building products, training concepts for MSMEs and the insurance industry as well as innovative approaches to design and deliver insurance and risk management services to MSMEs.
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
In sub-Saharan Africa (SSA), micro, small and medium enterprises (MSMEs) make vital contributions to growth, employment and livelihoods, representing more than 90% of businesses and employing about 60% of workers. However, the full potential of MSMEs is often not realised as they are highly exposed to risks that threaten their
How proof of address fell In our financial integrity work, we found that in the wake of global efforts to curb money laundering and combat the financing of terrorism (AML-CFT), financial integrity often came at the cost of financial inclusion. The requirement for financial service providers to undertake know-your-customer (KYC) and customer due diligence (CDD)
