When serving new market segments, many insurers are comfortable carrying out customer research. Where they often get stuck is putting those insights into practice, often because of internal issues like organization set-up, culture and processes.

November 5, 2019
Dhaka, Bangladesh

The West African Confederation of Financial Institutions is a regional grouping of financial cooperatives and microfinance institutions. The confederation created the insurance company CIF Vie to provide life insurance products for its member institutions. CIF Vie had significant success in providing credit-linked insurance but struggled to achieve scale for its voluntary products.In 2017, the Facility and AFD partnered with CIF Vie to assess how to improve sales of its stand-alone life insurance product.

When serving new market segments, many insurers are comfortable carrying out customer research. Where insurers often get stuck is putting those insights into practice. Organizations can shift their approaches and internal setups to make it easier to regularly act on client insights. This brief provides a range of strategies that can be used to do so – springboards towards a culture, structure and operations that are capable of responding to client needs.

The National Health Insurance Authority (NHIA) of Ghana is a public sector entity with the goal to ensure access to basic healthcare services for all Ghanaian residents through the National Health Insurance Scheme (NHIS). All residents are eligible to subscribe to the NHIS by paying a subsidised premium.