digital insurance outlook in africa 2015
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AFRICA INSURANCE OUTLOOK – THE ROUTE TO DIGITAL
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Exploring the untapped digital opportunity in Africa
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What’s next for Africa’s digital and mobile revolu?on
Mega Trends Reshaping The Insurance Industry In Africa
Source Africa Pulse Report, April 2014, World Bank
05/05/2015 Lovemore Gomera
Mega Trends Reshaping The Insurance Industry In Africa
The internet of things could save the honeybee from extinction
05/05/2015 Lovemore Gomera
Mega Trends Reshaping The Insurance Industry In Africa
• Data Source: Informa • Graphic: Afrographique
05/05/2015 Lovemore Gomera
q 6.7 billion mobile phone users today 8 billion by 2017 q 2.7 billion internet users today 3.3 billion by 2017 q 1.7 billion social media users today 2.5 billion by 2017
q Mobile data traffic is expected to grow by 11 times by 2018 q 85% caused by smartphones and
tablets
What’s next for Africa’s digital and mobile revolu?on
Estimated
Crea?on of a brand new market that cuts across borders
Approximately
05/05/2015 Lovemore Gomera
What’s next for Africa’s digital and mobile revolu?on
■ Geographical, sectoral and regulatory boundaries will be less important
■ Predominance of global players with global reputation and scale and local players with global alliances
■ Technology/Cost driven business models and service delivery infrastructures
■ Value and not transaction providers
■ To survive and succeed, insurers must go beyond digitizing current processes— they must fundamentally change their business models to become customer-centric,
digital businesses that provide consumers with solutions, not just products
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§ Transforming Customer Experience
v Customer Understanding
v Top-‐Line Growth
v Customer Touch Points
Digital transforma?on -‐ A DNA for success
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