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Microinsurance Business Models for Africa
Learning Sessions KENYA 6-7 April 2016 Diani, South Coast Mombasa
Participation fee: Early registration: US $ 270 Deadline: March 10, 2016 Late registration: US $ 320 Deadline: March 25, 2016
Accommodation arranged separately: Negotiated rate at conference venue is around US$ 100 per night
AfricanInsuranceOrganisation
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Client value: Putting clients first
The rationale for providing insurance to low-income households and individuals is to enable them manage risks more efficiently and ultimately contribute to their financial well-being. The question is does this happen in practice? How can insurance providers design products that meet the needs of low-income households, provide them with good value for their money, while making microinsurance business profitable and viable? Hosted by, ILO’s Impact Insurance Facility, this session will explore ways in which products can be adapted to ensure that they benefit the low-income target market while being profitable to insurance providers. Key questions here include: • How do you scale up microinsurance and still offer client value? • What are value propositions for low-income consumers? Insights
from client value evaluation studies?
Successes and challenges in microinsurance The Africa Microinsurance Landscape Survey 2015 revealed that there has been further growth microinsurance business in Africa continues to experience growth with South Africa in lead and countries like Ghana, Morocco experiencing significant growth between 2011 and 2014. This landscape study also identified 61.9 million people in the Africa region as covered by at least one microinsurance policy at the end of 2014, versus 44.4 million people identified in 2011. Despite this growth, insurance providers continue to experience some challenges as they search viable business models. This session discuss the business case for microinsurance as well as key challenges experienced by insurance providers. The session also presents some solutions, making a case for learning from mistakes made by some insurance providers. The key message is that challenges are inevitable but learning how other practitioners have dealt with these challenges is more important.
Health microinsurance
Demand studies on risks and risk management always reveal health as one of the major risks of concern by low-income households. However, health insurance is among the spectrum of complex insurance products. Are there good models for health microinsurance in terms of outreach and viability? How can solutions including PPPs be designed to achieve scale and viability of health microinsurance? The session explores business strategies and models for both private health microinsurance as well as PPPs. Key questions to be addressed in this session include the following: • Is it possible to provide practical, affordable and accessible health
financing mechanisms? • Are National Health Insurance Funds delivering value?
Agriculture microinsurance
Most of low-income households in Africa depend on agriculture as a source of income. Beside household risks such as death and illness, many of these households also face agricultural related risks which have a negative impact on the farm enterprise and household low-income income. This session explores a number of business strategies and models that have been tested for agriculture insurance. The session also discusses the role of PPPs in achieving client value and viability of agriculture microinsurance. Key questions to be addressed in this session include the following: • Is the bundling strategy making agriculture insurance profitable? • What is the success rate so far of weather index insurance?
Distribution Strategy and Business ModellingFinding ways of distributing insurance cost effectively is a key success factor in achieving scale and viability of microinsurance. This session presents innovations and lessons learned by insurance providers in the search for effective distribution models for microinsurance. The session also explores emerging successes in various distribution models including mobile microinsurance, retailer and utility distributors. A separate session on business strategy and modeling focuses on ingredients of successful microinsurance operations including vision and mission alignment, organizational structure, company strategy formulation and strategies for scale and viability. • Strategy formulation, leadership and vision for microinsurance • Distribution models for microinsurance; lessons and insights
Consumer education
In most developing microinsurance markets in Africa, low-income households either have low understanding of insurance or no experience at all; this inevitably signals the need to build knowledge on the benefits of insurance to low-income households while allowing them to experience insurance. The session discusses collective industry strategies and action for consumer education as well as innovative marketing strategies that can be employed by insurance providers to enhance appreciation of insurance. Key presentations include: • Working models on insurance consumer education (ICE) • The role of associations of insurance companies in insurance
consumer education
Microinsurance Business Models for Africa
Learning Sessions - Mombasa 6-7 April 2016
The regional conference is a combination of high quality training and plenary sessions aimed at sharing insights on working microinsurance business models for Africa. The learning sessions bring together over 100 international, regional and local experts and practitioners on microinsurance. The sessions also complements the 12th International Microinsurance Conference taking place from 15-17 November 2016 in Sri Lanka.
The event: From 6 to 7 April 2016, the Insurance Regulatory Authority of Kenya in collaboration with the AB consultants, Financial Sector Deepening Kenya (FSDK), Munich Re Foundation, ILO’s Impact Insurance Facility, Centre for Financial Regulation and Inclusion (Cenfri) will be hosting a regional conference on microinsurance; learning sessions on microinsurance business models and strategies for Africa. The event is also supported by GIZ Kenya, Microinsurance Network and African Insurance Organisation (AIO). Target audience: Over 100 international and regional participants and experts will exchange experiences and discuss a number of key themes and topics on microinsurance business. They include representatives from insurance and reinsurance companies, brokers, distribution channels, international organisations, NGOs, development-aid agencies, policymakers, regulators and supervisors within Eastern, Central and Southern Africa Key themes and topics
Conference language: English This regional conference brings together renowned international and regional speakers on microinsurance, drawn from international organisations as well as insurance providers. Key speakers and facilitators include: • Sammy Makove, Insurance Regulatory Authority, Kenya • Annie Kamau, AB Consultants, Kenya • Ayandev Saha, K M Dastur Reinsurance Brokers Pvt. Ltd, India • Barbara Chesire-Chabbaga, AB Consultants, Kenya • Charles Muyodi, Britam, Kenya (TBC) • Christabel Banda, Insurers Association of Zambia, Zambia • Dirk Reinhard, Munich Re Foundation, Germany • Doubell Chamberlain, Cenfri, South Africa • Israel Kamuzora, Tanzania Insurance Regulatory Authority, Tanzania (TBC) • Jeremy Leach, Inclusivity Solutions, South Africa (TBC) • Julius Magabe, Sanlam Tanzania (TBC) • Lemmy Manje, Consultant/Financial Sector Deepening Zambia, Zambia • Lisa Morgan, ILO’s Impact Insurance Facility, Switzerland • Patrick Mumba, Madison Life, Philippines • Martin Kgoale, Hollard, South Africa (TBC) • Michael Mbaka, Financial Sector Deepening Kenya (FSDK), Kenya • Michal Matul, ILO’s Impact Insurance Facility, Switzerland • Nelson Kuria, Insurance Expert, Kenya • Prisca Soares, Africa Insurance Organization (TBC) • Richard Sigei – National Health Insurance Fund, Kenya • Sam Agutu, Changamka Microhealth Limited, Kenya (TBC) • Sammy Makove, Insurance Regulatory Authority, Kenya • Thomas Wiechers, Making Finance Work for Africa (MFW4A) • Titus Nkwale, Pensions and Insurance Authority, Zambia (TBC)
…and many more to be reflected in the detailed agenda to be available soon. Payment details
Early registration: Deadline is 10th March 2016 • Participation fee: USD 270 Late registration: Deadline is 25th March 2016 • Participation fee: USD 320 Accommodation arrangements will be made separately. Negotiated rate is around USD 100 per night
Doubell Chamberlain
Cenfri South Africa
Sammy Makove Commissioner
IRA -Kenya
Michal Matul ILO’s Impact Insurance
Facility, Switzerland
Christabel Banda Insurers Association of Zambia
Zambia
Lemmy Manje Consultant
Zambia
REGISTRATION, CONTACT AND PAYMENTS: For registration details and more information contact: Rita Kawira, email: [email protected] Phone: +254 792 294 018 Copy: Anne Kamau: [email protected]
The bank account details for conference registration are as below:
Account name: AB Consultants Ltd-Microinsurance Account number: 1003379112 Bank: NIC Bank Branch: Riverside Branch code: 126 Swift Code: NINCKENA
Ayandev Saha K M Dastur Reinsurance
Brokers Pvt. India
Anne Kamau AB consultants
Kenya
Dirk Reinhard Munich Re Foundation
Germany
Martin Kgoale Hollard
South Africa
Nelson Kuria Insurance Expert
Kenya
