What is the hindrance to disrupting insurance in Africa?

Insurance penetration in sub-Saharan Africa (SSA) is very low. In 2020 it stood at 2% on average across the continent, as compared to the global average of 7%. (1) The reasons for this low penetration have traditionally been attributed to the lack of awareness of the benefits of insurance, the high cost of insurance products, traditional distribution channels limiting access, failure to embrace digital technology, among others.