What drives insurance sector development in Kenya
This research explores the role of insurance in sustainable development and inclusive growth.
DFID partnered with the World Bank, FSDAfrica and Cenfri to conduct a series of diagnostics in Ghana, Nigeria, Kenya and Rwanda to understand how insurance market development can contribute to sustainable and inclusive growth. The diagnostics explore the insurance sector’s role from three perspectives:0
- Building household resilience
- Supporting business resilience and enterprise development
- Capital market development
The diagnostics were informed by extensive in-country consultations, desktop research and analysis of available industry and demand-side datasets. The research followed a market-systems approach whereby the key features of the insurance market were mapped out to conclude on the sophistication of the market and to highlight pertinent market development challenges and opportunities. The key features mapped included the landscape of providers, products and distribution channels, premium trends and key market performance indicators.