Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
How data science could finally fix Africa’s broken insurance industry
African insurance market holds immense potential. Even though many still see insurance as a luxury rather than a necessity, the rapid growth of mobile technology, digital health platforms, and ride-hailing services across Africa provides a wealth of data sources just waiting to be used.
For too long, the insurance industry in much of Africa has seemed stuck in the past. Think about it: you report a loss, fill out tons of paperwork, and then wait, sometimes for what feels like forever, for your claim to be processed.
This outdated process isn't just frustrating for customers; it also causes people to distrust insurers, especially in a region where trust can be delicate.
