Innovation: Lifeblood of progress
The environment in which the insurance industry operates on the continent has become progressively more favorable over the past two decades with technology accelerating this process. From identifying individuals and corporations through legal channels to pin pointing locations and risk detail, legal ownership and contractual certainty, most of the essentials to conclude a legal insurance contract have become easily available.
We are now poised for stellar growth in premium and wide spread inclusivity, only requiring us to take the bold steps of being allowed to and then proactively utilizing the multiple technology innovations available to us. Now consumers on the continent can be reached efficiently enough to make it viable to pursue them.
With the rise of technology innovations, there has been lots of talk about the end of the broker, with insurtech taking over insurance distribution. In this edition of COVER, on page 8, we chat with Renasa to find out what they think about the sustainability of the broker channel.