The East African insurance industry has overall been on an upward trend in the after math of the global pandemic. However, the industry faces a variety of macroeconomic and geopolitical challenges that could impact the rate of growth over the short to mid-term. The slower economic growth in East Africa, rising inflation and the ongoing Russia-Ukraine war are just a few issues that executives need to navigate amidst their strategic initiatives.
Companies that are preparing for the inevitable disruption from the rapidly changing needs and evolution of consumers, as well as the forces of changeing ways of working will have significant first mover advantage in capitalising on the opportunities that these trends present to insurers.
There are clearly new trends that come with new challenges in 2023 and beyond, and it is critical that insurers are positioning themselves to protect their market share and take advantage of new opportunities to grow their businesses.
The East Africa Insurance Outlook Report takes a deep dive into the opportunities in the insurance sector focusing on Kenya, Tanzania, and Uganda. Download the report to read more on the regional economic overview, insurance performance, and much more.