Now reading: Resilience & Insurance

Resilience & Insurance

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. 

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

24 November, 2022
Resilience & Insurance

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

6 October, 2022
Resilience & Insurance

Credit life insurance in South Africa: the customer’s perspective

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

7 July, 2014
Financial Inclusion

Why and how retailers are used to access financial services in South Africa

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

13 June, 2014
Financial Inclusion

Regaining momentum?

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

15 April, 2014
Financial Inclusion

Managing risk whilst facilitating innovation: The case of m-insurance in Zimbabwe

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

4 April, 2014
Financial Inclusion

Mobile phones and microinsurance

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.

16 March, 2014
Financial Inclusion

Thinking big: Achieving scale for microinsurance schemes

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

16 March, 2014
Digital Transformation & Data

Designing mobile microinsurance products

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

12 February, 2014
Financial Inclusion

Regulating for inclusive insurance markets in SADC

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

6 December, 2013
Financial Inclusion

Towards new typologies for microinsurance intermediation

Distribution is one of the key challenges in extending microinsurance to the low-income market. Traditionally, insurance distribution is either via brokers or agents or, in the low-income space, on a compulsory sales basis on the back of credit. More recently, commercial insurers have started to employ other, alternative distribution channels

4 December, 2013
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