By Steve Williams, Sales Director, INSTANDA
As I reflect on my experience at The African Insurance Exchange 2025, held in the iconic Sun City International Resort, one message resonates clearly with me—the African insurance industry is on the cusp of remarkable transformation. The event was a melting pot of ideas, innovation and collaboration with insurers, delivery partners, membership organisations and technology pioneers coming together to explore the future of insurance across Africa.
From the engaging conversations and thought-provoking panels to the impressive lineup of local and international experts, the event was certainly an inspiring one. Here, I’d like to share my key insights and observations.
Africa is home to 1.4 billion people spread across 54 countries, yet its insurance penetration rate remains one of the lowest in the world. While this gap is often seen as a challenge, it also represents an extraordinary opportunity. What stood out to me during the Exchange was the universal agreement that innovation is the key to harnessing Africa’s potential.
From mobile-driven insurance solutions to microinsurance that targets underserved communities, the discussions highlighted how technology can act as a bridge to access. The extensive adoption of mobile technology across the continent, with more than 650 million smartphones in use, is enabling insurers to reach customers who were previously out of reach. Digital platforms are simplifying policy purchase, claims submissions and customer engagement, bringing efficiency and accessibility to the forefront of product design.
At INSTANDA, we’ve seen how the power of technology can unlock growth. Our no-code platform is ideally suited for markets like Africa. It enables insurers to rapidly build and launch tailored products that address specific needs.
Another key takeaway for me was the importance of partnerships. One recurring theme was that collaboration and ecosystem building are fundamental to industry growth. Insurers, regulators, technology providers, and distribution partners need to come together to solve shared challenges. This isn’t a market where any single player can succeed in isolation.
For instance, partnerships with telecom operators and mobile wallet providers are proving vital for scaling mobile insurance products. Similarly, public-private partnerships can help create more robust frameworks for addressing systemic risks like climate change and healthcare access.
At INSTANDA, collaboration underpins our approach. We understand that delivering customer-centric solutions in Africa requires not only the right technology but also a strong understanding of local markets. That’s why we’re committed to working closely with insurers to co-create products that address real-world challenges while driving sustainable business growth.
And whilst much of the conversation around product design focuses on simplification and consolidation, INSTANDA sees collaborative digital platforms as being key.
The South African insurance market has responded to its unique geographic and demographic challenges—characterised by a large rural population, socio-economic inequality, and a significant number of underinsured and uninsured individuals—by embracing innovative distribution strategies. These include cell captive arrangements, underwriting management agencies (UMAs), affinity group partnerships, digital platforms, and microinsurance models.
Each of these strategies has been instrumental in driving insurance penetration and promoting financial inclusion across the country. However, the lack of seamless integration between insurers, administrators, and distribution entities often leads to a fragmented value chain and operational inefficiencies.
INSTANDA provides a proven, alternative approach. With its no-code tools, business teams can effortlessly configure and launch digital access portals tailored to the unique needs of each collaborating entity. This enables bespoke journeys for administrators, product designers, underwriters, and the diverse distribution models—all within a unified digital distribution and policy administration system— without the need for complex integration of disparate systems.
While the opportunities are immense, it’s important not to overlook the unique barriers that still exist. During the event, several key challenges were discussed, such as low awareness of insurance among many populations, affordability constraints and regulatory complexities.
Addressing these challenges requires a multi-faceted strategy. For example, education will play a vital role in increasing awareness and building trust. By leveraging innovative distribution channels, insurers can connect with communities and demonstrate the tangible value of insurance.
Affordability remains a pressing issue, but innovation in product design—such as flexible, usage-based policies—is making coverage more attainable for low-income households.
One topic that resonated with me deeply throughout the event was the need for genuine product differentiation—funeral insurance being a prime example. Funeral cover holds profound cultural importance across much of Africa, and yet, standard products far too often fail to reflect the diversity of customer needs and lived realities.
At INSTANDA, we’re already seeing how insurers, actuaries, and technology providers can work together to create more tailored funeral insurance solutions. Imagine funeral products that offer flexible premium structures—so that those with seasonal or fluctuating incomes can pay when they are able, without risking lapses in vital coverage. Picture modular benefits, where individuals can top up or adjust their coverage over time, ensuring sustained value instead of a one-size-fits-all approach. Such innovation not only makes funeral insurance more accessible and relevant but also supports long-term financial resilience for families.
This need for personalisation and adaptability extends far beyond one product. The wide range of cultures, communities, and economic realities across Africa demands that insurers prioritise differentiated, customer-centric offerings, designed to serve truly diverse populations. By delivering insurance products that reflect individual circumstances—supported by digital platforms that streamline engagement—we can drive greater trust, value and protection for all.
Equally vital, and something I found truly inspiring at this year’s Exchange, was the Insurance Institute of South Africa’s (IISA) unwavering commitment to diversity and inclusion as a fundamental pillar of industry growth. There was a clear recognition that a thriving insurance sector must mirror the diversity of the communities it serves—not just within product design, but by building inclusive workplaces and opportunities for underrepresented groups. It was particularly moving to witness leaders like Delphine Traoré (the first black female president of the IISA) championing these efforts, helping to set new benchmarks for representation and social impact at every level.
The untapped potential of this market is undeniable, and with the right technology, people and strategies, the impact of insurance can extend far beyond financial protection. It can drive economic development, improve resilience to risks, and uplift communities.
At INSTANDA, we’re inspired by what lies ahead. Our mission is to empower insurers to make a real impact—whether it’s by bringing insurance to underserved customers, simplifying complex processes, or enabling faster innovation cycles.
To learn more about the INSTANDA's platform capabilities and to find out why insurance companies across the world choose us as their technology partner, please book a demo.