Kifiya Financial Technology is a digital service provider that provides electronic, branch-less banking and mobile money services in Ethiopia. Kifiya offers a range of fintech products, including agriculture and livestock insurance. This brief focuses on its agriculture index insurance product.

The ILO’s Impact Insurance Facility is celebrating ten years of supporting the insurance industry to contribute to social and economic development. Over this period, we have grown and evolved alongside the industry. Markets, products, players and technology have drastically changed during the past decade. Now that we have looked back, it is time to scan the horizon and see what lies ahead. This review considers future trends, and the work that the ILO is doing, and could be doing, to enable the insurance industry to contribute to the sustainable development agenda in the coming years.

A digital strategy used to be about selecting the right technologies, automating tasks and gaining efficiency. Today, digitalization involves fundamentally transforming the way a business works and what it offers.

Equity Insurance Agency (EIA) is a subsidiary of the Equity Group, a large financial services conglomerate headquartered in Nairobi with over 12 million customers in 6 countries. The insurance agency was established with the objective of addressing the insurance needs of Kenyans across a wide range of income levels. The agency partners with insurance companies to offer a wide range of insurance products through a bancassurance model.

The ILO’s Impact Insurance Facility turned 10 this year, along with our close partner, Cenfri. Together we have taken stock of progress made over the last decade and, most importantly, what needs to come next.