Booming microinsurance gives millions of Africans first-time access
It is only a matter of time before sector moves up the value chain to disrupt the traditional industry
02 May 2021 - 17:51
Africa has traditionally been the world’s most uninsured, and underinsured, continent. That’s rapidly changing as the booming popularity of microinsurance gives millions of Africans access to life and hospital insurance for the first time.
Microinsurance offers consumers financial protection against specific risks — hospital cover for accidents, for example — for tiny premiums. The impact is transformative, as it shields people with lower incomes from the economic shocks that would otherwise keep them locked into an endless cycle of poverty...
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