Exploring funeral insurance uptake for emerging customers

Funeral insurance is possibly the oldest form of insurance - it has been popular since the days of the Greek empire and can be found all over the world. It is still the most common form of insurance in sub-Saharan Africa - so given its universal appeal, the MiN’s latest Expert Forum sought to find out how can it be used to drive other products including health, crop or livestock cover?

What future for donor engagement in microinsurance?

The Expert Forum “Understanding donor engagements in microinsurance”, organised by the Network last month with support from Making Finance Work for Africa (MFW4A),  presented findings from the the landscape of donor activity study, commissioned by the Network in 2015 and carried out by LMG Consulting and centred on the future outlook for donors in the microinsurance space and the priority areas in which they aim to focus their funding efforts going forward.

Microinsurance is InsurTech and there is more to come

For many years the FinTech buzz was primarily focused on banking. Last year that all changed when 2015 was labelled the year of InsurTech. Last year InsurTech start-up funding exceeded $2.5 billion. This trend continued in the first quarter of 2016, with 45 InsurTech deals generating over $650 million, according to CB Insights data. 
 
It’s hard to say exactly how many InsurTech companies exist today, but some trackers report well over 500. This includes innovations ranging from product development to distribution to claims, and everything in between.

Cracking the distribution challenge in Africa

The third and final module, which concluded the Microinsurance in Africa Expert Forum series took place in April with around 40 participants joining facilitator Brandon Mathews, of Stonestep and topic expert Michael J. McCord, Chair of the Microinsurance Network and President of the MicroInsurance Centre in an interactive discussion centred on distribution and innovation in Africa.

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