The Africa Insurtech Uprising

Insurtech is arguable the next big driver of insurance penetration and inclusivity across the world. Its ability to forster innovation and make available the most scarce data parameter that traditional insurance struggles to generate is unmatched. The growth of Insurtechs across the African continent is impressive promoting access to insurance in most underserved communities. While it addresses the penetration and accessibility concerns of the African community, a couple issues still remains not fully understood and perhaps unclear. The regulatory environment, actuarial consideration and adaptations as well as the real impact measure on society and customer behavior, regulation, and actuaries’ role from the African perspective is what this paper seeks to explore.

This presentation will allow key stakeholder adjust their role in future to fully support the growth and transition of the era from traditional insurance setup.

The presentation will cover:

• The regulatory sandbox environment employed to regulate Insurtech in Africa
• What goals this strategic regulatory sandbox translate to?
• How Insurtech products affects actuarial consideration like pricing and assumptions
• How does Insurtechs fit into the insurance landscape and implication on Society and customer behavior
• Comparative analysis of ground breaking insurtech’s from selected countries in Africa
• What does the future of an insurance with innovative insurtechs look like for regulation, the actuarial profession and the African community?

Find the Q&A here: Q&A on 'Insurance Practice in Different Markets'