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?

InsurTech promise for microinsurance – rising to the regulatory challenge

Digital technologies are rapidly changing the insurance landscape worldwide. In Africa currently, mobile insurance is prevalent, but other digital technologies are on the rise too,  helping to provide a large number of households with coverage for the very first time.

African countries’ experiences and perspectives from the 6th Consultative Forum

The second day of the 6th Consultative Forum on “Innovative products for the emerging consumer”, in Marrakesh, was organised into two breakout sessions, for regulators and industry participants to present insights and propose recommendations for microinsurance innovative product development.
 
Product design
Microinsurance products need to be designed in a way that is socially responsible and adds value to the end consumer.

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.

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