Staff Writer ([email protected]
THE Southern African Insurance Research Institute (SAIRI) says it is moving to connect national institutions through cross-market research and practical policy solutions as cross border emerging risks are exposing the limits of Africa’s fragmented insurance response pushing.
At a time climate-related losses, cyber threats, artificial intelligence and mounting concerns over insurance affordability are increasingly demanding responses that extend beyond individual markets, creating opportunities for regional research and the sharing of evidence-based solutions has become critical.
This is also coming at a time the African insurance sector continues to face several structural and operational challenges, including low insurance penetration, a widening protection gap, limited public awareness and trust, and the high cost of insurance for low-income households and small businesses.
Access to insurance remains uneven, particularly in rural communities and the informal sector, while inadequate data, shortages of actuarial and technical expertise, and limited distribution channels constrain product development and risk assessment.
The industry is also grappling with fragmented regulatory frameworks across national markets, making cross-border operations and the sharing of expertise more difficult.
At the same time, climate change is increasing exposure to floods, droughts, cyclones and other extreme weather events, while cyber threats, artificial intelligence and rapid digitalisation are creating new risks that require stronger technical capacity and regulatory responses.
This has provoked the need for insurers to develop innovative, affordable products that meet the needs of underserved communities, smallholder farmers and informal businesses underscoring the importance of regional research, knowledge-sharing and collaboration to develop evidence-based solutions that can strengthen the resilience, accessibility and sustainability of Africa’s insurance markets.
Now SAIRI, a Botswana based institution says it is set to complement national institutions by examining common challenges, comparing experiences across markets and providing platforms for collective problem-solving.
SAIRI’s newly appointed executive director, Davison Choeni, told Insurance24 that the Botswana-based institute is working to close the gap between research and implementation.
Rather than duplicate the work of existing institutions, he said SAIRI is positioned as a regional knowledge partner and convener, bringing together stakeholders to examine challenges that cut across national boundaries.
“National institutions are often understandably focused on serving their respective memberships and domestic markets.
“SAIRI helps connect these efforts by examining issues that cross national boundaries, comparing experiences across markets and creating platforms for collective problem-solving ” he said
“For example, climate risk, cyber threats, artificial intelligence, insurance affordability and emerging distribution models do not respect national borders. There is considerable value in developing regional evidence and sharing lessons that can be adapted to different markets.”
Choeni said the institutions was bent on bridging the gap between research and practice adding that the ambition was not to produce research that sits on a shelf, but to generate insights that boards, executives, regulators and policymakers can use.
“We are a convener, knowledge partner and catalyst for collaboration. Our success will be strengthened, not diminished, by the success of the institutions already serving the region,” he said
Choeni said one of the most significant challenges was also the gap between traditional technical competence and the capabilities which now required to lead institutions in a rapidly changing environment.
He added that the region continues to be in need of strong technical skills in underwriting, actuarial practice, claims management, reinsurance, pensions administration and enterprise risk management.
However, he stressed, these must increasingly be complemented by expertise in data analytics, artificial intelligence, cybersecurity, climate risk, digital distribution, governance and strategic decision-making.
“There is also a growing need for board members and senior executives who understand how emerging risks translate into financial, operational, reputational and strategic consequences.
In pensions, the sustainability of retirement systems, investment risk, longevity and the adequacy of retirement outcomes demand greater attention.
Across insurance and financial services, leadership must become more forward-looking and data-informed.SAIRI intends to respond through targeted executive masterclasses, applied research, professional development programmes, industry roundtables and partnerships with universities and specialist institutions ” he said.
SAIRI is a regional think tank that exists to bridge the critical skills gap within the insurance and risk ecosystem by developing globally competent professionals capable of supporting sustainable economic growth, financial resilience, and institutional stability.
