Stimulating innovation and organizational change.

The ILO’s Impact Insurance Facility works with leading insurers and distribution channels to help them to enhance the social and economic development impact of insurance providers in Africa. To meet this need, insurers and distribution channels must not only develop client-centric products and processes, but also establish new internal structures, systems, roles and performance measurement frameworks. The ILO therefore works with a selected partner in Mozambique to implement innovations and the relevant organizational changes that are needed to effectively deliver insurance solutions. To enhance the impact of the insurance industry, and successfully meet the risk management needs of MSMEs and low-income households, insurers and distribution channels need to innovate and develop client-centric products and processes that are cost-effective and viable in the long-term. This is rarely possible without substantial changes to business models. Organizations often need to change their standard operating procedures and internal structures. The project aims to: Spur innovation, build capacity and identify and implement the related organizational changes with NBC; Work with NBC to scale the innovations quickly to achieve sustainability, while gradually improving customer and shareholder value; Develop change management tools and demonstration cases that can be shared with the broader industry to facilitate the generation of innovative insurance solutions for the low-income market.

Project symbol

MOZ/17/02/FSD

Admin unit

SFU

Start date

15/06/2017

End date

30/11/2019

Total allocation

200000

Total expenditure

Status

Closed

193881

Development Partners

Financial Sector Deepening, Africa

Country/Countries

Mozambique

Outcomes

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