Chair
– Jean KACOU DIAGOU / Founder & President, Groupe NSIA
– Baghayo SAQWARE / Commisioner and Director General, Tanzania Insurance Regulatory Authority
Speakers
– Jean-Louis MENANN-KOUAME / CEO, Orange Bank Africa
– Ashok SHAH / CEO, Apollo Investments / APA Insurance
– Gildas N’ZOUBA / Managing Director SUNU Assurances VIE Ivory Coast, Groupe SUNU
– Florence BOUPDA / Global Sector Manager, Financial Institutions Group (FIG), Banking and Insurance, IFC
Moderator
– Sana ATTIG / Director, Insurance, Francophone Africa, Deloitte
Embedded insurance on mobile money and banking apps holds vast potential to expand access to health, crop, and personal accident cover for informal workers, 83% of Africa’s workforce. While partnerships are growing in the space, insurers are still grappling with tech integration hurdles, data
gaps on informal sector risks, pricing strategies for a segment with irregular incomes, and complex multi-regulator compliance with central banks, insurance, and telco regulators. Banks and telcos are meanwhile questioning if the revenue potential outweighs the implementation effort. What critical moves will enable embedded insurance to transform Africa’s sub-3% insurance penetration rate?
Key points:
– Increased uptake and retention: Have embedded products to date met financial inclusion and profit expectations?
– Product design and tech integration: Deepening data on informal sector needs, and streamlining integration with or without insurtech intermediaries
– Harmonised oversight: Achieving convergence on embedded finance across regulators
