Key trends and insights from the study of microinsurance coverage in the region
This study provides an in depth analysis of the evolution of microinsurance in the African region in terms of products, delivery channels, regulations and profitability indicators.
The landscape measured a 63% premium growth, on an aggregate comparative basis, since the last landscape study in 2011, with 61.8 million people covered by at least one microinsurance policy by the end of 2014, compared to 44.4 million 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 is comparable to the coverage ratio in Asia and Oceania at 4.3% (2012), though still below that in the Latin America and Caribbean region at 7.9% (2013), as shown in the World Map of Microinsurance (WMM) which incorporated data from the Africa landscape and previous studies.