The “African insurance market” is barely worthy of the name, such are the low levels of penetration of all types of insurance across the continent. Back then, investment in insurtech startups was also low, with such businesses raising only 8.8 per cent of total funds raised in the fintech space. He said African insurtech startups are better placed than larger, often international firms to deliver insurance products geared towards the need of the customer. “The African insurance market it very different from the Americas or the European market. “These opportunities have the potential to be very lucrative for insurtech companies, traditional insurance companies, and investors alike.

Source: The North Africa Journal January 17, 2019 06:00 UTC