MICRO-INSURANCE: Players eye small ticket market
Could it be the slow economic activity that is driving insurance firms to innovate for low-income earners, a market known as small-ticket insurance? The latest firm to innovate towards this consumer segment is prudential, in partnership with ABSA bank have introduced premiums of between 5000 to 10000 shillings. Officials say amplifying services in this category would also supplement growth in penetration levels currently at 1%.
