Extending mutual microinsurance to 5 million uninsured households in five countries over five years.


What is the landscape for mutual microinsurance in Kenya? 

A large proportion of Kenya’s population is considered to be poor, earning less than USD 2 per day, therefore there is a huge potential for microinsurance at the bottom end of the population pyramid. For the two-thirds of Kenya’s population that rely on the food they grow and animals they keep, increasing drought also means that many are struggling to produce enough food.

The cooperative sector in Kenya has thrived since Kenya's independence, and 63% of Kenyans derive their livelihoods directly/indirectly from cooperative based activities (Source: International Labour Organization). Cooperatives in Kenya are organized horizontally by economic sectors into agricultural and non-agricultural cooperatives.

Where are we now? 

For the diagnostic stage of the project in Kenya, ICMIF partnered with local member companies CIC Insurance Group and Takaful Insurance of Africa (TIA); and local research firms ACRE Africa and SBO Research have been contracted. The country diagnostic report will be finalized in early 2017, and a detailed country strategy to develop mutual microinsurance in Kenya will be produced. The country intervention programme will commence in 2017.