Enhancing knowledge and capacity to develop African insurance markets

This partnership between the ILO’s Impact Insurance Facility (the Facility) and African Reinsurance Corporation (Africa Re) aims to support and enhance the development of microinsurance markets in African countries. To achieve this, the project will: * support market facilitation activities that will develop and strengthen the capacity of insurance providers to offer valuable insurance products and stimulate demand for insurance among financially excluded population segments; *promote cross country collaboration and sharing of good practices among African countries to facilitate cross learning and hence; *develop the capacity of practitioners and multipliers to increase their knowledge through trainings that reach hundreds of professionals across the continent; and ultimately *strengthen Africa Re’s work on developing inclusive insurance markets. Activities The activities undertaken under this project will focus on improving understanding of the business case of inclusive insurance, stimulating demand among underserved or unserved population segments, and strengthening the supply and regulation, of inclusive insurance products in the countries of focus. Specifically the project will: * support the training of insurance practitioners to improve knowledge and skills required for effective the development and distribution of high quality inclusive insurance products; * identify and work with country or regional multipliers to develop the sustainable flow of capacity building training programmes in the African insurance markets; *support and sustain a community of practice on market development facilitating peer exchange and cross learning on strategies for developing inclusive insurance markets; and *disseminate emerging lessons and insights on market development 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/15/03/ARE

Admin unit

SFU

Start date

01/11/2015

End date

28/03/2020

Total allocation

400000

Total expenditure

Status

Closed

400589

Development Partners

African Reinsurance Corporation

Country/Countries

Africa - regional

Outcomes

Outcome 3: Economic, social and environmental transitions for full, productive and freely chosen employment and decent work for all