Insurance leaders and experts from across Africa converged in Nairobi starting Monday at a major two- day conference that seeks to stimulate growth in the industry.The African insurance and re-insurance conference, which brings together different players from across the continent from 22-23 June, will focus on among other issues, insurance, emerging cyber risks and application of analytics in making investment decisions.
According to the organizers, the life insurance industry in Africa continues to be marked by low penetration rates with half of the countries either lacking a life industry or having a marginal market
with extremely low penetration.
with extremely low penetration.
Participants will explore the challenges hindering the penetration levels and solutions that can be offered through effective products, delivery and distribution channels.
“The themes for this year’s conference pick up on the increasing optimism as the insurance sector now more than ever positions itself to play a key role in supporting the unprecedented economic growth the continent is witnessing,â€� Naomi Njoroge, Managing Director of Aidem Business Solutions, the event organizer told APA.
She said to fully realize this potential; operators, must carefully rethink their strategies especially in areas of product innovations, business diversification and investment options.
“These fundamentals will be critical in determining who will be best placed to take advantage of this growth,� she said.
She said Cyber risk has become a significant enterprise threat and proactive risk management means identifying the risk and implementing appropriate risk mitigation strategies.
“Players need to understand their organisation’s vulnerability to cyber-attacks and also the importance of protecting their enterprises by having proper security controls in place within their IT
infrastructure,� she said.
infrastructure,� she said.
Signature : APA
Copyright : © APA
No comments:
Post a Comment