AGENDA
• Insurance Uptake
• Who / What is Africa
• Challenge
• Potential Solution
INSURANCE UPTAKE
Insurance Uptake
Only 3.5% insured
73% held in South Africa
Mobile phone penetration at 44%,
Financial services penetration remains closer to 20%,
AFRICA
Who / What is Africa
Who / What is Africa
World's second-largest and second-most-populous continent
55 Countries
More than 2000 languages
50% are 19 years old or younger
CHALLENGE
4 THEMES
EDUCATION
DISTRIBUTION COLLECTION
FIT FOR
PURPOSE
PRODUCTS
Education
• 29 million live in SubSaharan Africa
• 18 million live in South and
West Asia
Out-of-school children
was approximately 67 • There are 500 million
people of working age in
million worldwide in
Africa
2008
http://www.howwemadeitinafrica.com/south-african-insurance-company-partners-with-airtel-to-distribute-products/19975/
Distribution
30,221,532 km²
70 % of the
continent’s poor
people live in
rural areas
Access
http://mba.americaeconomia.com/sites/mba.americaeconomia.com/files/business_opportunities_and_challenges_in_africa.pdf
Collection
AfricanInvestor, CEO Banking Report, May 2012
Proposed Solution
Proposed Solution
Education
Distribution
Collection
Fit for Purpose
• Consider free insurance…
• Constant communication
• Banks
• Mobile Network Operators
• Increase in premium collection methods
• Bottom Up Approach
• Understanding of the communities
Conclusion
Thank you / Asante