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Stimulating innovation and impact insurance in Africa - Midterm evaluation
- eval_number:
- 3330
- eval_url:
- https://webapps.ilo.org/ievaldiscovery/eval/3330
- lessons_learned:
- themes:
- theme:
- Social finance
- category:
- Enterprises
- comments:
- Parametric insurance products users / Ministries / Insurance companies
- challenges:
- Insurance products are difficult to market.
- success:
- Slow societal change to convince people that insurance is good to have in order to increase social cohesion.
- context:
- In order to get used to buy insurance products, it is necessary for the people to change their mindset by increasing the trust in the product and their benefits from the product. Hereto would help the insurer’s swift agreements to compensation of claims and payout of benefits. Time is needed and it is a crucial factor for new products development and winning new impact insurance customers. A mass media campaign with success stories and mindset changers can be done by the Government to win trust of people in insurance.
- description:
- Time is needed for people to get used to buying insurance.
- administrative_issues:
- Staff, Resources, Implementation
- url:
- https://webapps.ilo.org/ievaldiscovery/lessons/2303058
- location:
- country:
- Africa - regional
- region:
- Africa
- eval_title:
- Stimulating innovation and impact insurance in Africa - Midterm evaluation
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