Harnessing Technology to Narrow the Insurance Protection Gap
harnessing-technology-to-narrow-the-insurance-protection-gap
harnessing-technology-to-narrow-the-insurance-protection-gap
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Case Studies<br />
This section presents a number of case studies which<br />
illustrate <strong>the</strong> impact of technology on <strong>the</strong> spread and<br />
reach of insurance cover. The (small) selection, presented<br />
in alphabetical order, is based on input received from <strong>the</strong><br />
executive and expert interviewees who have contributed <strong>to</strong><br />
this report. The underlying facts and figures were primarily<br />
taken from <strong>the</strong> respective companies’ websites. In addition,<br />
we have endeavoured <strong>to</strong> apply <strong>the</strong> notions of <strong>the</strong> previous<br />
section <strong>to</strong> <strong>the</strong> examples presented.<br />
The following table offers an overview of <strong>the</strong> six cases<br />
presented.<br />
A. AIRTEL GHANA—MINIMISING TRANSACTION<br />
COSTS WHILST BUILDING FUNDAMENTAL<br />
AWARENESS<br />
Airtel Ghana, a subsidiary of <strong>the</strong> Indian telecommunications<br />
company Bharti Airtel, is a mobile network opera<strong>to</strong>r in<br />
Ghana. The company offers free microinsurance products<br />
<strong>to</strong> its cus<strong>to</strong>mers in order <strong>to</strong> promote brand loyalty.<br />
Airtel <strong>Insurance</strong> is an example of leveraging existing<br />
platforms such as mobile operations <strong>to</strong> introduce <strong>the</strong><br />
basic concept of insurance <strong>to</strong> low-income segments of<br />
ID<br />
Geographical<br />
reach<br />
Key issue(s)<br />
addressed<br />
<strong>Technology</strong> Line(s) of business Distribution Prospects<br />
A. Airtel<br />
Ghana<br />
Ghana<br />
Lack of insurance<br />
awareness<br />
Mobile phone<br />
Disability and<br />
hospitalisation<br />
Mobile only<br />
Expansion <strong>to</strong> additional<br />
African countries and<br />
lines of business; higher<br />
penetration<br />
B. BIMA<br />
Developing<br />
countries<br />
Lack of insurance<br />
awareness<br />
Mobile phone<br />
Life, personal accident,<br />
health<br />
Mobile, call<br />
centre-based<br />
agents<br />
Fur<strong>the</strong>r geographical<br />
expansion in developing<br />
markets and higher<br />
penetration<br />
C. Discovery Global<br />
Demand for behavioural<br />
insurance; mitigation<br />
of moral hazard and<br />
adverse selection<br />
Health<br />
moni<strong>to</strong>ring<br />
and tracking<br />
devices<br />
Life and health<br />
Online direct<br />
or via partner<br />
insurers<br />
Fur<strong>the</strong>r geographical<br />
expansion and higher<br />
penetration<br />
D. Friendsurance<br />
Germany<br />
Demand for peer<strong>to</strong>-peer<br />
insurance,<br />
mitigation for moral<br />
hazard and insurance<br />
fraud<br />
Social<br />
technology<br />
Multiline<br />
Online only<br />
Fur<strong>the</strong>r geographical<br />
expansion (e.g.<br />
Australia) and higher<br />
penetration<br />
E. Kilimo<br />
Salama and<br />
Acre<br />
Eastern Africa<br />
Lack of insurance<br />
awareness; demand<br />
for 'pay-as-you plant'<br />
insurance<br />
Mobile and<br />
meteorological<br />
technology<br />
Agriculture<br />
Traditional and<br />
mobile<br />
Higher penetration<br />
F. Pacifica France<br />
Lack of pasture<br />
insurance cover<br />
Satellite<br />
technology<br />
Agriculture Traditional Higher penetration<br />
<strong>Harnessing</strong> <strong>Technology</strong> <strong>to</strong> <strong>Narrow</strong> <strong>the</strong> <strong>Insurance</strong> <strong>Protection</strong> <strong>Gap</strong><br />
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