Insurance in Emerging Markets

Articles discussing insurance sector developments in emerging markets, including microinsurace. The OpenUnderwriter team discusses thier experiences in this area and thoughts on what the future will look like.


How Mutual and Cooperative Insurers in the Developing World Will Benefit from InsurTech

The InsurTech revolution is in full swing with millions of pounds being invested trying to re-think inefficient and outdated operating models.

This article was written for Insurance Day – Issue 4,605 - Monday 23 May 2016.

With the demand for low cost insurance growing at a phenomenal rate and a large increase in the number of member and community based organisations (cooperatives and mutual) especially in the developing world, the demand for innovative, cost effective technology has never been higher. With enormous potential benefits to both state and consumer, low cost insurance provides a financial safety net to some of the lowest income families around the globe but to date, traditional technology solutions have been ill equipped to support this market.

Cloud Insurance Services for the African Market

New platform to give African insurance providers a low cost distribution channel.

Tech Equity Ltd and OpenUnderwriter have today announced a partnership to provide an innovative set of cloud insurance services to the African market.

The partnership offers a robust, cloud hosted platform that will give African insurance providers a low cost distribution channel for their products. It will allow these products to be provisioned and purchased using SMS (as well as traditional methods), which will potentially open up a whole new market for low cost insurance.

Gaining Competitive Advantage Through Collaboration

Technology has played a large part in addressing the challenges faced by mutual and co-operative insurers in the developing world, but it is time for new and more innovative approaches to be considered.

This article was written for Insurance Day – Issue 4,361 - Monday 1 June 2015.

Enabling huge areas of the globe develop insurance solutions depends very heavily on cheap and reliable technology. The demand for low cost insurance is growing at a phenomenal rate and as a result we’ve seen a large increase in the number of member and community based organisations (cooperatives and mutual) especially in the developing world. With enormous potential benefits to both state and consumer, low cost insurance provides a financial safety net to some of the lowest income families around the globe.

Challenges for Technology in the Microinsurance Sector

The use of new technology is critical for the microinsurance sector, but without reliable data or actuarial capacity, it will be a struggle to design sustainable products.

This article was written for Insurance Day – Issue 4,194 - Monday 22 September 2014.

We live in a world dependent upon technology, we use it every day, at home, in our jobs, it touches everything we do, but rarely do we consider the process and decisions that have gone on behind the scenes to deliver that technology into our lives.

Affordable Technology Platforms

How do you provide affordable technology platforms for mutual and other insurers in the developing world?

This article was written for Insurance Day – Issue 4,115 - Monday 2 June 2014.

The demand for low cost insurance is growing at a phenomenal rate. With enormous potential benefits to both state and consumer, low cost insurance provides a financial safety net to some of the lowest income families around the globe.

Ghanaian Insurance Industry Database

The Ghanaian insurance sector is rapidly expanding...

Ghanaian Insurance Industry Database

...however there is limited ability to analyse the risks associated with the markets being covered and the potential losses that could be incurred. Also, products on offer are mainly tailored for the relatively well off, meaning coverage extends to less than 2% of the Ghanaian population.

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