Unlocking new markets
Digital innovation in Africa’s insurance industry
Combining innovative technologies with a digital mind-set holds great potential for insurance providers to achieve growth and to develop new business models and services that are geared towards unlocking the BoP insurance market.
Key takeout from this report
While insurtech companies are yet to challenge the dominance of incumbent insurance providers, the emergence of these new competitors highlights the disruptive potential digital technology combined with the right mind-set hold.
Digital plays an important role in product design, product distribution and service delivery in the insurance industry. It can speed up the time to market for new products, reduce the cost of the service and unlock markets which were previously perceived to be unviable.
It is time for organisations to look at how to shape business culture to fully leverage digital technologies and to unlock new opportunities.
Call to action
Africa’s large untapped insurance markets require innovative solutions
How can Deloitte help
As a team we look forward to engaging with our clients to align their digital strategy to trends and developments in Africa's insurance industry.