Most people in Africa want to use various insurance products. But it is often deterred by the high premiums involved. Therefore, it is not surprising that the insurance market penetration across the continent is still a minority.
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The reported per capita premium is 11 times lower than the global average, according to the McKinsey study.But the market could soon change as innovative products
running on micropayment or pay-per-use frameworks are made under the backing of institutions such as the Financial Sector Deepening (FSD) in Africa funded. Support from the United Kingdom
FSD Africa to launch Insurtech Accelerator in Ghana and Nigeria next year To foster innovation that will drive insurance in two markets and beyond The planned launch of the insurtech accelerator program in the West African country follows
the same launch in Kenya earlier this year. together with insurance regulators national regulatory authority and cloud solution provider Tellistic Technology Services.At FSD Africa we are committed to the growth o
