DIGITAL INSURANCE – CREATING A CONNECTED FUTURE

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  

             Africa  a@rac?ve  des?na?on  for  investments  

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

Mega  Trends  Reshaping  The  Insurance  Industry  In  Africa  

05/05/2015   Lovemore  Gomera  

Power

Mega  Trends  Reshaping  The  Insurance  Industry  In  Africa  

05/05/2015   Lovemore  Gomera  

Mega  Trends  Reshaping  The  Insurance  Industry  In  Africa  

05/05/2015   Lovemore  Gomera  

Mega  Trends  Reshaping  The  Insurance  Industry  In  Africa  

05/05/2015   Lovemore  Gomera  

Mega  Trends  Reshaping  The  Insurance  Industry  In  Africa  

 Adop?ng  digital  thinking  to  transform  face-­‐to-­‐face  insurance    

05/05/2015   Lovemore  Gomera  

Adop?ng  digital  thinking  to  transform  face-­‐to-­‐face  insurance    

 Exploring  the  untapped  digital  opportunity  in  Africa    

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

05/05/2015   Lovemore  Gomera  

 What’s  next  for  Africa’s  digital  and  mobile  revolu?on  

05/05/2015   Lovemore  Gomera  

What’s  next  for  Africa’s  digital  and  mobile  revolu?on  

05/05/2015   Lovemore  Gomera  

What’s  next  for  Africa’s  digital  and  mobile  revolu?on  

Strategy Cycle Execution Cycle

Africa  -­‐  What  Now?  :  Go  Digital  or  Die  

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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  

Africa  -­‐  What  Now?  :  Go  Digital  or  Die  

 QUESTIONS  ?????,  COMMENTS  !!!......    

05/05/2015   Lovemore  Gomera  

Africa insurance trends  

Hugh  Terry,  Founder,  Digital  Insurer,  Singapore,  Asia  

   Acknowledgements  /  Resources  

Dominique Netto , Digital Media Strategis