Why is it so difficult for insurers and brokers to penetrate into Nigerians and win customers. The regulator is bothered, Insurers pay huge claims, brokers work hard , yet penetration is still very low What is the solution, that what all insurance practitioners should be thinking of right now First : Technology Second : Collaboration Please see the 2018 statistics below (www.statista.com/statistics/685278/insurance-industry-market-size-sub-saharan-africa-by-country) INSURANCE PENETRATION IN SUB SAHARAN AFRICA |
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| South Africa | 16.99% | |
| Namibia | 6.69% | |
| Lesotho | 4.76% | |
| Mauritius | 4.18% | |
| Zimbabwe | 4.09% | |
| Kenya | 2.83% | |
| Swaziland | 2.44% | |
| Togo | 1.98% | |
| Seychelles | 1.82% | |
| Rwanda | 1.74% | |
| Mozambique | 1.58% | |
| Malawi | 1.52% | |
| Senegal | 1.51% | |
| Gabon | 1.38% | |
| Cape Verde | 1.29% | |
| Zambia | 1.11% | |
| Ghana | 1.10% | |
| Cameroon | 1.05% | |
| Congo | 1.05% | |
| Benin | 0.85% | |
| Burkina Faso | 0.78% | |
| Uganda | 0.77% | |
| Angola | 0.71% | |
| Tanzania | 0.68% | |
| Gambia | 0.67% | |
| Madagascar | 0.67% | |
| Niger | 0.65% | |
| Sudan | 0.57% | |
| Mali | 0.53% | |
| Ethiopia | 0.43% | |
| Sierra Leone | 0.41% | |
| Eritrea | 0.38% | |
| Burundi | 0.35% | |
| Nigeria | 0.30% | |
| Central African Republic | 0.29% | |
| Democratic Republic of Congo | 0.29% | |
| Equatorial Guinea | 0.21% | |
| Chad | 0.20% | |
| Guinea | 0.04% | |
| Botswana* | ||
| Liberia* | ||
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