Microinsurance in Africa: Enabling Development Through Risk Reduction
Aparna Dalal, Technical Officer, Household and Digital Insurance Services, Impact Insurance Facility, International Labour Organization (ILO)
Pranav Prashad, Technical Officer, Agriculture Insurance, Alternative Distribution and Mobile Services, Impact Insurance Facility, International Labour Organization (ILO)
Japh Olende, Head, East Africa, AIG
Chair: Elizabeth Donnelly, Assistant Head and Research Fellow, Africa Programme, Chatham House
Africa's expanding market for microinsurance presents new opportunities both for development and commerce. The multiple stakeholders operating in environments of low profit margins, low levels of consumer knowledge and uncertainty surrounding regulation are driving innovation as insurers look to new products and distribution channels to capture this considerable emerging market. Microinsurance lessens the impacts of losses on the most vulnerable and can serve as a means of securing poverty reduction.
At this event a panel will discuss innovations in the microinsurance industry, share perspectives on operating in these expanding markets, and highlight how microinsurance can be part of both business and development strategies with governments, industry and development partners working together.