Senegal Inclusive Insurance Sector Report 2022: A Significant Opportunity – Paving the Way for a Concrete Path to Successful Inclusive Insurance – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Inclusive insurance in Senegal” report has been added to from ResearchAndMarkets.com offer.

Senegal ranks among the highest countries in West Africa for financial inclusion and is actively developing digital financial services.

Senegal represents a significant opportunity for insurance – with a relatively young population and significant economic growth potential. Senegal’s economy recently boomed thanks to the government’s “Plan Sénégal Emergent”, but was soon snuffed out, like many others, by the COVID-19 pandemic.

The establishment of a successful public-private partnership, with the support of development partners, led to the creation and development of the activities of the National Agricultural Insurance Company of Senegal. This proves that there is a concrete path to successful inclusive insurance, especially agricultural insurance, among West African countries.

After COVID-19 brought the economy to a standstill, an “Economic and Social Resilience Program”, which supports businesses, individuals and the health system, was put in place.

Senegal has updated its national social protection strategy to ensure access to the social protection system for the entire population by 2035 – but there are limits to the system.

The National Agricultural Insurance Company represents the potential for effective public-private partnerships to build the resilience of the Senegalese population, but much remains to be done to optimize insurance coverage.

Main topics covered:

Introduction

The context

Risk exposure

Enable the inclusive development of the insurance market

The current inclusive insurance landscape

  • Microinsurance coverage identified

  • Some products

  • Distribution

  • Genre

  • Complaints

Opportunities and Challenges

Companies cited

  • Access to Insurance Initiative (A2ii)

  • AXA

  • Central Bank of West African States

  • Federation of

  • African National Insurance Companies (FANAF)

  • Global Index Insurance Facility (GIIF)

  • National Agricultural Insurance Company

  • of Senegal (CNAAS)

  • Swiss Re

  • West African Development

  • Bank

  • world Bank

For more information on this report, visit https://www.researchandmarkets.com/r/hltwoou

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