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
Consumer Outcomes

7 Lessons from 2024

Our work at Cenfri rarely follows the typical rhythms of the calendar year, yet, as 2024 draws to a close, we thought it would be good to reflect on what we’ve achieved. It’s been a busy few months: we’ve worked on around 50 projects and undertaken work-related travel to 19

11 December, 2024
Resilience & Insurance

Kenyans are value maximisers, not cost minimisers

Lessons from scaling retail health microinsurance in Kenya It is often assumed that people with limited income will always choose the cheapest option available. However, this isn’t always the case. Take Mercy, a single mother in Nairobi[i], for example. When buying school shoes for her children, she opted for a

7 November, 2024
Resilience & Insurance

The new currency in microinsurance: does data access trump client volume?

Lessons from scaling retail health microinsurance in Kenya We’ve all been there. You wake up feeling unwell and, being a rational person, you turn to Dr. Google. Perhaps you search for “low-cost clinics near me” or “affordable treatment for the flu.” Within seconds, you’re flooded with thousands of articles, and,

9 October, 2024
Financial Inclusion

Scaling up health microinsurance in Kenya: Insights and opportunities

How can we prevent high healthcare costs and low insurance penetration from driving people into poverty? Imagine facing a medical emergency without insurance and having to choose between your health and financial stability. This is the harsh reality for many Kenyans, with 38.6% living below the poverty line and catastrophic

9 October, 2024
Governance, Policy & Regulation

R3Lab Toolkit: Regulating and enabling innovation

Innovation can enable insurance to become a powerful engine of growth and development across the continent, but achieving this requires that market players and regulators work together to build an ecosystem in which responsible innovation can thrive. For regulators, doing so means not only understanding the current state of innovation

29 August, 2024
Digital Transformation & Data

A decade of microinsurance innovation: promising or ‘meh’?

In October 2023, Doubell Chamberlain spoke to Rishi Raithatha about the impact that innovation and technology has had on the microinsurance market over the last 10 years. This is a short excerpt from the full interview. You can read more of the interview on the MicroInsurance Network site. Q: What

29 February, 2024
Resilience & Insurance

5 lessons for designing fit-for-purpose health microinsurance

Gakere is a 49-year-old mechanic from Nairobi, and like 77% of adults in Kenya, he does not have National Hospital Insurance Fund (NHIF) or private health insurance. “If I fall sick, I treat myself. As you can see I do very strenuous jobs and someone who does not have good

31 January, 2023
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
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