Insurance Thematic Report FinScope Rwanda 2020

ABOUT THE REPORT:

This report is a deep dive on the 2020 FinScope results relating to financial inclusion, risk management and insurance. The analysis was commissioned by Access to Finance Rwanda (AFR) with an objective to provide deep insights on access and usage of insurance services in Rwanda. By design the thematic report focuses on consumer insights captured from the FinScope survey. The report also includes recommendations on market and policy directives for consideration by market players, policy makers and market facilitators. This report has been drafted by FinProbity Solutions on behalf of AFR.

Executive summary

The report is part of a series of thematic reports published by Access to Finance Rwanda (AFR) on various themes and sectors within the Financial Services Sector using FinScope 2020 data. This report focuses on access and usage of insurance services. The overarching objective of this report is to provide a deep dive analysis of consumer insights on drivers, barriers and critical elements relating to access and usage of insurance. The report provides information on the levels of access and usage of insurance by the adult population in Rwanda. The deep dive analysis of Finscope Insurance analysis was commissioned by AFR with overall intent to provide a comprehensive understanding of risk management practices by consumers, the role of insurance in people’ lives and opportunities for enhanced usage of effective risk management financial services. The report is supposed to contribute to the identification of policy and market imperatives and directives.