Existing insurance business models have yet to fully harness the potential of the low income mass market. If approached correctly with innovative and sustainable business models this market sector offers significant growth opportunity, particularly in those economies where middle and upper income markets are reaching saturation point.
Insurance penetration rates across the continent are low. Going downmarket represents an opportunity for insurers to tap into the large underserved market of low income earners, while concurrently providing valuable products and services to improve the living conditions of the population.
HOW YOU WILL BENEFIT
This programme aims to create an understanding of the collaborative, multidisciplinary and sustainable approach required to ensure success in this market. Combining academic theory, case studies and best practice models, this programme will expose delegates to innovative approaches for building business in low income markets.
Delegates will also experience immersion in this context to gain exposure and grapple first-hand with issues unique to this market. In groups, delegates will interact with local household members and businessowners in local communities.
KEY THEMES INCLUDE:
- An understanding of “disruptive innovation” and why this is necessary for insurance and other financial services industry businesses to target the low income / BOP market successfully;
- Understanding market perceptions of the insurance industry;
- The role of consumer education;
- Creating new distribution channels;
- The role of technology;
- Partnerships and partnership design;
- Product and service development;
- Ethics in the insurance industry; and
- Sustainability.
WHO SHOULD ATTEND?
- Senior-level executives and decision-makers across industries including: insurance; medical health schemes; health insurers; retailers selling insurance; and insurance ombudsmen.
- Business unit heads responsible for low income / BOP-type products.
- Sales and marketing professionals with interests in markets.
FACULTY
The International Labour Organisation (ILO) is a sponsor and has representation on the programme.
Leading local and international faculty, industry experts and guest speakers will address delegates on this programme.
PROGRAMME FEE: The fee of R13 950 includes tuition, instruction material, textbooks, lunches and refreshments and is VAT exempt. No registration will be confirmed without payment.
DURATION: Three days
CONTACT US
For further information on this programme please contact the Programme Manager on +27 (0)11 771 4347 or email execed@gibs.co.za.
CANCELLATION POLICY
Delegates who cancel their registration after the closing date for registrations or, where there is no closing date, less than 14 days prior to programme commencement, will be liable for 50% of the programme fee. Those who do not arrive for the programme will be liable for the full fee. Notification of cancellation must be sent in writing either via email or via fax. All who cancel or do not attend must return the programme material intact.