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
FSD Africa impact report
Payments & Remittances

FSD Africa’s Impact report

Between 2012 and early 2020, FSD Africa, supported by Foreign, Commonwealth and Development Office, reached over 5.47 million people and contributed to at least 3.2 million MSMEs accessing credit to grow and/or sustain their businesses with financial services and products across Africa. In FSD Africa’s inaugural Impact Report they unpack how they achieved this impact

20 November, 2020
Cell captive insurance
Governance, Policy & Regulation

South Africa’s draft conduct standard for third-party cell captives: ironing out the details

In September 2020, the South African Financial Services Conduct Authority (FSCA) published the draft conduct standard for third-party cell captives for public comment. The issuance of the draft conduct standard represents the culmination of a long regulatory journey for cell captives in South Africa, first via licence conditions placed on

6 November, 2020
MSME microinsurance
MSMEs, Ecosystems & Economic Opportunity

Managing risks (more) effectively: Rethinking insurance for MSMEs 

MSMEs form the backbone of many economies globally and give rise to economic growth, employment and innovation. The ongoing COVID-19 crisis has highlighted the extreme vulnerability of MSMEs to exogenous shocks and risks. However, the uptake and use of insurance remains extremely low for this group. In sub- Saharan Africa, it

5 November, 2020
Resilience & Insurance

The impact of COVID-19 on the Rwandan insurance sector

The COVID-19 pandemic and the accompanying containment and mitigation measures have affected and disrupted the operations of industries around the globe. This report explores the impact of COVID-19 on the Rwanda insurance sector   Rwanda was the first African country to implement a national lockdown to curb the spread of COVID-19. Lockdown measures included the closure and suspension

3 November, 2020
Insurance and COVID-19
Payments & Remittances

Impact of COVID-19 on the insurance sector – Ghana, Malawi and Zimbabwe

The COVID-19 pandemic and accompanying restrictions by many governments across sub-Saharan Africa (SSA) have forced insurance providers, insurance regulators and consumers to rethink how they interact and maintain operations through this period.  At Cenfri, through our RRI programme funded by FSD Africa, we are identifying and tracking the major challenges faced by both

30 October, 2020
Evolving insurance supervisory mandates in sub-Saharan Africa
Payments & Remittances

Evolving insurance supervisory mandates in sub-Saharan Africa – implications for data practices

The Access to Insurance Initiative (A2ii) recently published the report, “Evolving insurance supervisory mandates in sub-Saharan Africa (SSA) – implications for data practices.” The report marks the first part of a project by the A2ii and Cenfri, in partnership with FSD Africa and together with a Steering Group comprising supervisors from seven jurisdictions: Ghana,

30 September, 2020
How are insurance regulators in sub-Saharan Africa being affected by, and responding to, COVID-19?
Resilience & Insurance

How are insurance regulators in sub-Saharan Africa being affected by, and responding to, COVID-19?

In the midst of increasing uncertainty resulting from the COVID-19 pandemic, insurance regulators still need to ensure that they fulfil their core mandates of market stability, consumer protection and (in some cases) insurance market development. The COVID-19 pandemic has affected and disrupted the everyday operations of insurance supervisors – forcing them to adapt and

25 August, 2020
COVID-19 and insurance remote onboarding
Payments & Remittances

Insurance operations and COVID-19: remote onboarding challenges

What challenges exist around remote onboarding? COVID-19 has caused significant disruptions to insurers’ operations, as they still have traditional business models and rely heavily on physical engagement for distribution. The lack of digitisation across the continent has emerged as a key barrier from our research on the impact that COVID-19

4 August, 2020
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