Agenda - Inclusive Insurance Business Models for Africa

Like many developing insurance markets in Africa, insurance penetration in Mozambique is very low. Further, uptake and usage are skewed towards the higher income market segments. Commissioned by FSDMoc and supported by Association of Insurers of Mozambique (AMS), Instituto de Supervisão de Seguros de Moçambique (ISSM), the Landscape of Inclusive Insurance provides an updated portrait of the state of the inclusive insurance sector in Mozambique. This session will address the following key questions:

• What is the current state of the inclusive insurance sector in Mozambique?
• What some of the key market and regulatory barriers inhibiting growth of inclusive insurance sector in Mozambique?
• What is the current performance of microinsurance schemes in Mozambique?
• What are the perspectives and views on potential drivers of inclusive insurance in Mozambique?

Welcome
Curratilaine Remane
AMS, Mozambique

Opening remarks
Dirk Reinhard
Vice Chairman, Munich Re Foundation, Germany

Keynote
Otília Santos
ISSM, Mozambique
 
Landscape Study Presentation
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Esselina Macome
FSDMoç, Mozambique

Facilitator

Denise Alves
FSDMoç, Mozambique


> watch the video recording of Session 1

Majority of people in Eastern and Southern Africa are highly dependent on agriculture as a source of income. At the same time, natural disasters like floods and droughts are threatening economic development beyond the agricultural sector. Climate change will make the situation worse. This session aims to identify possible approaches that could offer protection against natural disasters as well as barriers that hinder market development. The role of technology will focus on non-financial solutions which are enhancing the functionality of inclusive insurance value chains. This session will address the following key questions:

• What are some of the existing agricultural/disaster related schemes within the region and other continents?
• What are the main barriers for the development of agricultural insurance and disaster risk finance schemes in the region/Mozambique?
• What were the main challenges of managing these schemes? What are some of strategies to overcome the barriers?
• What kind of support can be obtained from national or international support facilities such as InsuResilience Investment Fund?
• What is the role of the government? What is the role of (premium) subsidies?
• What kind of support can be obtained from donor organizations to help improve access to agricultural insurance to small farmers?
• What role does technology play?

Speakers

Ayandev Saha
FinProbity Solutions, Rwanda
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Mauwa Lungu
FSD, Zambia
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Israel Muchena
Hollard, Mozambique
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Pietro Magnoni
World Food Programme, Mozambique
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Facilitator

Dirk Reinhard
Vice Chairman, Munich Re Foundation, Germany
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> watch the video recording of Session 2

• What business strategies can be employed by market players to achieve better results in inclusive insurance business?
• What organizational structure is ideal for pushing inclusive insurance in a company?
• What sort of institutional culture is ideal?
• How can shareholders support senior management in pushing inclusive insurance in company?
• How can regulators support the development of inclusive and innovative business strategies and models?

Speakers

Lorenzo Chan
Pioneer, Philippines | Chair, Microinsurance Network

Geric Laude
Pioneer, Philippines

Facilitators

Lemmy Manje
FinProbity Solutions, Rwanda

Bert Opdebeeck 
Microinsurance Master, Belgium



> watch the video recording of Session 3

Vulnerability to illness is usually one of the prioritised risks by low-income people. Unfortunately, lack of appropriate health financing solutions often leaves low-income people with little or no access to good quality health care. National health insurance schemes are a response to this need and often require joint efforts between public and private sector to be viable and sustainable. The session aims to explore possible models that can enhance access and usage of affordable and high-client value health insurance for the low-income population segments. This session will address the following key questions:

• What are some of the existing national health insurance schemes in different countries.
• What are the main barriers for the development of a national health insurance scheme in the region/Mozambique?
• What were the main challenges of managing these schemes? What are some of strategies to overcome the barriers?
• What is the role of the government in introducing national health insurance schemes? Is there a prospect for public private partnerships?
• What kind of support can be obtained from donor organisations to help improve access to affordable health insurance to low-income people?
• What emerging inclusive health insurance solutions are addressing pandemics like Covid-19?
• What role does technology play?

Speakers

Lisa Morgan
ILO’s Impact Insurance Facility, Switzerland
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Simao Chipanga
Hollard Mozambique
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Anne-Sophie Triboulet
Women’s World Banking, Uganda
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Facilitator

João Gouveia
Fidelidade, AMS, Mozambique



> watch the video recording of Session 4

The emergence of InsurTechs and increased participation of Mobile Network Operators in insurance value chains serves as evidence of the role that digital solutions can play in insurance distribution. However, digital insurance models have experienced successes and failures. This session presents strategies and experiences on digital insurance models. The session also explores appropriate regulatory and infrastructure requirements for the success of these models and will address the following key questions:

• What are some of the most viable and working digital insurance models within the region and Mozambique?
• What challenges are experienced in managing digital inclusive insurance business?
• How can regulators support the development of digital inclusive insurance solutions on infrastructure, pricing models and collaboration between regulators?

Speakers

Tauanda Chare
TABECH Fintech, MovelCare, Mozambique

Valerie Labi
BIMA Ghana

Rishi Raithath
GSMA, UK

Salomão David
INCM , Mozambique

Facilitator

Kate Rinehart-Smit
Cenfri, South Africa
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> watch the video recording of Session 5

Most insurance markets do not naturally become inclusive. To achieve inclusivity of insurance services, different industry stakeholders can contribute by addressing market and regulatory barriers. This entails educating the general public on insurance and creating awareness of available inclusive insurance products. The session also explores the effectiveness of insurance consumer education initiatives. The session will address the following questions:

•  What are some of the most effective initiatives or tools for increasing awareness of the value of insurance?
• Do investments in consumer education translate into increased uptake of insurance services? What else should be done to complement these investments?
• How can regulators and associations stimulate the demand for insurance through investments in consumer education?
• What kind of support can be obtained from donor organisations to help improve insurance literacy and awareness?

Speakers

Wilson Tei
Insurance Awareness Coordinators Group (IACG), Ghana

Viviene Pearson
South Africa Insurance Association (SAIA), South Africa

Agnelio Jossias
ISSM, Mozambique

Ruben Chivale
Companhia de Seguros Indico, SA, Mozambique

Facilitator

Mark Robertson
Microinsurance Network, South Africa
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Drawing on lessons learned during the conference, the closing session will explore initiatives that can be implemented in Mozambique to accelerate the development of an inclusive insurance sector. This session will address the following key questions:

• What has been inhibiting the development and growth of an inclusive insurance in Mozambique?
• What are some of potential drivers of inclusive insurance in Mozambique?
• What are the key opportunities and quick wins?
• What can be done by the regulators and other key stakeholders to support the development of an inclusive insurance sector in Mozambique?

Conference summary
Dirk Reinhard
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Speakers

Silvio Chiau
FSDMoç, Mozambique

Benedito Manhiça
EMOSE, Mozambique

Mércio Sitoe
ISSM, Mozambique

Facilitator

Lemmy Manje
FinProbity Solutions, Rwanda

Closing remarks

Mércio Sitoe
ISSM, Mozambique