In Gabon, the company SAMB’A Assurances is engaged in micro-insurance to meet the needs of populations most exposed to risks and to provide them with adequate financial protection.
Dr. Crépin Andrew GWODOG Founder and CEO of SAMB’A Assurances Gabon
SAMB’A Assurances Gabon: a new micro-insurance company
Andrew Gwodog, with his previous experience at the head of SCG-Ré, thus gave birth to SAMB’A Assurances Gabon, a pioneering structure in microinsurance. This company provides insurance solutions specifically designed to meet the needs of economically disadvantaged populations, including informal workers, farmers, small traders, liberal professions, artists, associations, trade unions, small businesses, artisans and market vendors, thus contributing to their protection and financial security.
The benefits of microinsurance for vulnerable populations
Microinsurance plays a crucial role in reducing the financial vulnerability of the low-income population. It promotes their economic and social integration by offering them protection against various risks such as accidents, diseases, deaths and crop losses. In the words of Andrew Gwodog, “ microinsurance stands out for its inclusive nature, going beyond the boundaries of microcredit to include the middle class and SMEs. This universal availability is essential to avoid discouraging individuals from the concept of insurance.. »
The challenges of microinsurance in Africa
Despite its promising potential as a financial protection mechanism, microinsurance in Africa faces major obstacles. One of the most important challenges remains health coverage, a critical issue for low-income families. Insurance companies are often reluctant to engage in this area and often prefer life insurance products. In addition, the implementation of microinsurance requires in-depth knowledge of the field, simple and easy-to-understand products, appropriate prices and accessible and flexible distribution networks.
The potential for microinsurance in Gabon
The growth of microinsurance in Gabon can contribute to the expansion of insurance markets and the increase of the premium base by targeting people with modest incomes, who represent a significant part of the population. The involvement of public authorities, microfinance institutions, non-governmental organizations and technological advances such as mobile payment can play a decisive role in the growth of microinsurance in Gabon. As an African proverb says: ” alone we go faster, together we go further “Microinsurance provides a robust instrument for consolidating the economic resilience of vulnerable populations and encouraging their financial and social inclusion.
In addition, a seminar intended for distributors of SAMB’A Assurances GABON SA microinsurance products was organized in Libreville on 4 and 5 July. This meeting, whose purpose was to strengthen the participants’ skills on the basis of microinsurance and to pave the way for optimal marketing of the company’s products, was moderated by Marc Nabeth, an expert with 25 years of supporting actors in the insurance and microfinance sector (including insurance) in their transformation projects, from strategy to operational implementation. Author of several publications and books on insurance, social protection and microinsurance, he also speaks at conferences and teaches Masters/MBA courses at ENASS and ESA.
@DworaczekBendom, Paris, July 9, 2024
