Strengthening the role of financial institutions for micro-insurance development in Africa.

This project seeks solutions to overcome remaining barriers in microinsurance delivery by African MFIs through stimulating innovation for selected advanced MFI (innovation laboratory) and providing capacity building to the microfinance industry in selected countries.The Financial Institution Innovation Laboratory implements action research interventions with eight MFIs or banks to generate credible insights to improve insurance services, leading to improved value for MFIs’ core business and also for their clients. Key learning objectives are designed collectively by the selected innovation lab partners; preliminary research suggests the following areas of interest: 1. Improving ability of MFIs to assess client risks, and design appropriate insurance products (focus on market segmentation) in relation to other formal and informal financial services 2. Using technology to make enrolment and claims processes more accessible and to reduce operating costs 3. Developing health insurance products that extend or supplement existing social protection schemes 4. Developing meso-level insurance products that benefit small-scale farmers and improve financial institutions’ risk management abilities. The results from the different action research projects will be disseminated to a broader audience using the Facility’s knowledge tools (briefs, trainings, bite-sized lessons, webinars etc.). Performance will be assessed from both the client and institution perspectives. o The project will support training of financial institutions to improve organizational capacity to deliver microinsurance as well as disseminate new lessons to governments and other relevant stakeholders to influence their policies with regards how insurance can be used to achieve public policy objectives.

Project symbol

RAF/14/05/FRA

Admin unit

SFU

Start date

26/05/2015

End date

30/09/2019

Total allocation

3331507

Total expenditure

Status

Closed

3334447

Development Partners

France, Agence Française de Développement

Country/Countries

Global

Outcomes

Outcome 4: Sustainable enterprises as generators of employment and promoters of innovation and decent work