Responsible Finance Forum

2015 Mobile Insurance and Risk Framework Assessment in Ghana

Advision Finance, Amarante Consulting and GIZ
01 December 2015
Source:  National Insurance Commission
 
 GIZ

Mobile insurance (m-insurance) is an innovative line of insurance products, whereby the mobile networks are used to deliver one or multiple components of insurance for the mass market. In Ghana, m-insurance plays an important role in the microinsurance sector. Approximately 60% of lives (as of 2014) are insured by microinsurance products delivered via mobile insurance. Mobile insurance models could be either strategic (Mobile Network Operator (MNO) offers insurance under its own branding) or transactional (MNOs provide the platform only for a purely transactional role).

The objective of the study was to carry out a detailed risk assessment of the mobile insurance landscape in Ghana and develop a risk assessment framework, to be used for improving the regulatory guidelines for m-insurance products in Ghana.