Insurance

Although the country’s insurance sector is progressing each year and has a substantial direct and indirect impact on the economy and job creation, the penetration rate – measured as premium relative to GDP – remains low. The factors contributing to the low penetration rate include a lack of public awareness and education about the industry as a whole. However, new opportunities are expected to arise due to economic progress and diversification in Côte d’Ivoire and the larger Inter-African Conference on Insurance Markets area. In order to increase the level of trust in the system, insurance companies will need to reassure consumers by upholding their contractual commitments and expediting claims settlement.

This chapter contains an interview with Roland Ouedraogo, General Director, Sanlam Assurance Côte d’Ivoire.