The study (available in English and French) provides an in depth analysis of the evolution of microinsurance in the African region in terms of products, delivery channels, regulations and profitability indicators to the industry, building upon the data released in the African Landscape Briefing Note in November last year.
The landscape measured a 63% premium growth, on an aggregate comparative basis, since the last landscape study in 2011, with 61.8 m people covered by at least one microinsurance policy by the end of 2014, compared to 44.4 m people in 2011. A total coverage ratio of 5.4% of the total population was measured across the African region, up from 4.4% in 2011. This can be compared to the coverage ratio in Asia and Oceania at 6.96% (2012 + 2016 for Sri Lanka), and the Latin America and Caribbean region at 7.9% (2013), as shown in the World Map of Microinsurance (WMM) which incorporates data from the Africa landscape and previous studies.
About the World Map of Microinsurance
The World Map of Microinsurance (WMM) is an interactive map that enables insurers and microinsurance practitioners to gain a birds-eye view on the landscape of microinsurance worldwide, and to search and extract sector-specific data by region to gain insights into trends in microinsurance, fostering better decision-making at an operational and policy level. A series of tri-annual regional landscape studies, including the Landscape of Microinsurance Africa 2015, provide the data underpinning the map.
- Microinsurance Network
Co-published by Munich Re Foundation and the Microinsurance Network
Co-funded by Munich Re Foundation and MFW4A