DUBLIN, Jan. 20, 2023 /PRNewswire/ — The “Inclusive Insurance in Kenya“ report has been added to ResearchAndMarkets.com’s offering.
Kenya is one of the largest economies in East Africa and a leader in the continent’s mobile money market with a dynamic FinTech ecosystem.
With 67% of the population categorised as emerging consumers, many projects and initiatives related to inclusive insurance have been implemented in the country. However, the microinsurance target market is still largely untapped, with limited coverage of the population, and reaching scale remains a challenge.
- Kenya’s population is mostly rural and depends heavily on agriculture for their livelihood. The country is vulnerable to droughts and floods that affect the agriculture sector.
- Kenya’s digital ecosystem is very dynamic and 20% of African FinTechs are in Nairobi – the continent’s 2nd largest FinTech hub.
- Different initiatives have been implemented in Kenya to provide a regulatory framework for microinsurance operations and encourage innovation.
- Health is the largest business line in terms of premiums, not only in the non-life insurance sector but also in the microinsurance sector.
Key Topics Covered:
3. Risk exposure
4. Enabling inclusive insurance market development
5. The current inclusive insurance landscape
- Identified microinsurance coverage
6. Opportunities and challenges
- ACRE Africa
- AB Consultants
- APA Insurance
- Association of Kenya Professional Insurance Agents (AKPIA)
- Association of Microfinance Institutions (AMFI Kenya)
- Central Bank of Kenya
- ILO’s Impact Insurance Facility
- Insurance Development Forum
- Insurance Regulatory Authority (IRA)
- International Finance Corporation
- International Livestock Research Institute (ILRI)
- Little App
- MicroEnsure Kenya
- NHIF Kenya
- NSSF Kenya
- Savings and Credit Cooperatives (SACCOs)
- Syngenta Foundation for Sustainable Agriculture
- Swiss Capacity Building Facility (SCBF)
- Swiss Re
- United Nations
- World Food Programme
For more information about this report visit https://www.researchandmarkets.com/r/s1px2z
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SOURCE Research and Markets