According to British agency Ernest Young (EY), Zambia is the country that will provide most opportunities for insurers in the next three years, followed by Nigeria, Ghana and Kenya. These findings are based on a report pertaining to potential risks and growth prospects of the premium volume in seven sub-Sahara African countries: Ghana, Kenya, Malawi, Nigeria, Tanzania, Uganda and Zambia. In its matrix, EY has taken into account economic conditions and risks incurred.
The agency affirms that the development of mobile telephony networks, population growth and poor insurance penetration are three key factors showcasing the growing potential of insurance. Additional opportunities are also provided to insurers who will innovate in the motor business, who will know how to communicate with customers and who will fiercely combat corruption and fraud.