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 Ugandans face insurable risks, yet uptake of insurance remains very low at only 1.4%. Innovations in global insurance markets have illustrated how insurance can be better designed, offer more affordably and thus provide better value for customers. Uganda enacted a new Insurance Act in 2018. This act expanded the
In many African countries, the potential for inclusive insurance markets is significant, however, this potential has yet to be fully realised. High entry barriers for new innovative players and regulation that may not effectively accommodate them are important contributing factors. The cell captive model has emerged as a way for entrepreneurs or organisations with an insurance business
But in Africa, there is more at stake A key imperative identified by our deep-dive studies across four sub-Saharan African countries was that for the insurance sector to contribute to sustainable development, policymakers and regulators need to take a more active role in leading and enabling innovation in their markets. Never has this imperative been truer than now – as the world is
Why supervising risk, rather than rules, matters when developing insurance markets A series of recent deep-dive studies across Nigeria, Kenya, Ghana and Rwanda have shown that insurance matters for sustainable development and growth in Africa. The studies have also identified the imperatives necessary to help ensure that insurance development happens
A guidebook using nine Asian countries (Cambodia, India, Laos, Mongolia, Myanmar, the Philippines and Vietnam) under the GIZ Integrated Climate and Disaster Risk Management Framework. Micro-, small- and medium-sized enterprises (MSMEs) form the backbone of many economies globally. They contribute considerably to economic growth, employment and innovation. The IFC estimates that MSMEs account
What can be done to unlock the role of insurers in developing African capital markets? Shortly after the onset of the COVID-19 pandemic, local currency portfolio outflows from emerging economies reached an unprecedented scale of more than USD100 billion. Although this pronounced shock was quite short-lived, capital was already in scarce supply in Africa: the total infrastructure
Exploring the potential of remittance-linked insurance products to improve the resilience of households in sub-Saharan Africa (SSA) Remittances are particularly important on the continent and serve as a lifeline to many households. Yet insurance products that enable the sustained flow of remittances or the resilience of senders and receivers remain unexplored in SSA. Both remittance
Unlocking the SME insurance market through a holistic approach to building resilience. I recently moved into an apartment above a popular Cape Town restaurant, the owner of which is also my landlord. Last week, the restaurant had a major leak that took a plumber three days to fix. Fixing a
The versatile proportionate risk assessment tool developed by The International Actuarial Association For effective risk-based financial management and supervision, individuals and organisations need to identify the key risks before they can be managed or supervised. To assist with this in areas where actuarial skills are limited, a practical risk assessment tool has been developed by the International Actuarial Association (IAA)’s Inclusive Insurance (previously Microinsurance) Working Group. This
The need to build greater resilience in Africa and globally has been clearly demonstrated by the devastating impact of the COVID-19 pandemic on our society. The insurance industry has not been unaffected; work Cenfri did with OESAI and FSD Africa in June indicated that over 60% of insurers experienced a
Most Ugandans face insurable risks, yet uptake of insurance remains very low at only 1.4%. Innovations in global insurance markets have illustrated how insurance can be better designed, offer more affordably and thus provide better value for customers. Uganda enacted a new Insurance Act in 2018. This act expanded the
In many African countries, the potential for inclusive insurance markets is significant, however, this potential has yet to be fully realised. High entry barriers for new innovative players and regulation that may not effectively accommodate them are important contributing factors. The cell captive model has emerged as a way for entrepreneurs or organisations with an insurance business
But in Africa, there is more at stake A key imperative identified by our deep-dive studies across four sub-Saharan African countries was that for the insurance sector to contribute to sustainable development, policymakers and regulators need to take a more active role in leading and enabling innovation in their markets. Never has this imperative been truer than now – as the world is
Why supervising risk, rather than rules, matters when developing insurance markets A series of recent deep-dive studies across Nigeria, Kenya, Ghana and Rwanda have shown that insurance matters for sustainable development and growth in Africa. The studies have also identified the imperatives necessary to help ensure that insurance development happens
A guidebook using nine Asian countries (Cambodia, India, Laos, Mongolia, Myanmar, the Philippines and Vietnam) under the GIZ Integrated Climate and Disaster Risk Management Framework. Micro-, small- and medium-sized enterprises (MSMEs) form the backbone of many economies globally. They contribute considerably to economic growth, employment and innovation. The IFC estimates that MSMEs account
What can be done to unlock the role of insurers in developing African capital markets? Shortly after the onset of the COVID-19 pandemic, local currency portfolio outflows from emerging economies reached an unprecedented scale of more than USD100 billion. Although this pronounced shock was quite short-lived, capital was already in scarce supply in Africa: the total infrastructure
Exploring the potential of remittance-linked insurance products to improve the resilience of households in sub-Saharan Africa (SSA) Remittances are particularly important on the continent and serve as a lifeline to many households. Yet insurance products that enable the sustained flow of remittances or the resilience of senders and receivers remain unexplored in SSA. Both remittance
Unlocking the SME insurance market through a holistic approach to building resilience. I recently moved into an apartment above a popular Cape Town restaurant, the owner of which is also my landlord. Last week, the restaurant had a major leak that took a plumber three days to fix. Fixing a
The versatile proportionate risk assessment tool developed by The International Actuarial Association For effective risk-based financial management and supervision, individuals and organisations need to identify the key risks before they can be managed or supervised. To assist with this in areas where actuarial skills are limited, a practical risk assessment tool has been developed by the International Actuarial Association (IAA)’s Inclusive Insurance (previously Microinsurance) Working Group. This
The need to build greater resilience in Africa and globally has been clearly demonstrated by the devastating impact of the COVID-19 pandemic on our society. The insurance industry has not been unaffected; work Cenfri did with OESAI and FSD Africa in June indicated that over 60% of insurers experienced a
