Home to more than 700 million low-income citizens, Africa is considered a major market for micro-financial offerings, including microinsurance. According to the 2018 Landscape of Microinsurance in Africa study conducted by the Micro Insurance Network, only 2% of Africa’s low-income population is currently served by microinsurers. Microinsurance at its core is a type of insurance […]
For many decades, Africa was celebrated for its oil & gas and mineral riches, a trend that persists into the 21st century. However, this is not the sole narrative shaping the continent’s future. The rise of the middle class, increasing from 26.2% in the ’80s to 34.3% in 2010, has significantly fueled internal consumption and […]
Insurance Distribution Channels are revolutionizing the industry in Africa, particularly in Sub Saharan regions, where insurers are keen on deepening insurance penetration amidst the continent’s promising trends. Overcoming the challenge of convincing African consumers to invest in non-compulsory insurance products, insurers are innovating with new distribution models tailored to the unique African market.
The Moroccan insurance market realized an interesting jump during the last 5 years. In 2012, the industry totalized MAD 26 billion of premiums vs. MAD 19.7bn in 2008 which represents a CAGR of 7.14%. The penetration rate (premiums/GDP) of the industry remains low compared with the world average of 7% even if it grew from […]
