Initial Market Assessment

World Bank

Initial Market Assessment

Autores

World Bank

Editor

Washington, DC

Descripción

Kenya has well-established insurance and banking sectors, both of which have demonstrated high levels of capacity through strong profit margins over time. There is high insurance penetration (compared to neighboring countries), sufficient levels of reinsurance capacity and expertise in-country and a ground-breaking innovative mobile money market. Kenya represents an excellent opportunity to make targeted investments aimed at increasing disaster resilience among vulnerable population using market-mediated solutions. Links could be explored to integrate market-mediated insurance solutions into social safety net programs, such as the Hunger Safety Net Program. Coordination with broader Horn of Africa resilience efforts (such as those of the Global Alliance and Political Champions Group) could also be explored. A technical assistance program could be established by donors, looking to enable the government to develop mechanisms and establish frameworks to execute such mechanisms. Property catastrophe insurance markets could also be stimulated. Insuring key public assets (of a given level of building standard) against catastrophe risk would create a market for private sector organizations, as well as demonstrate the viability of property catastrophe risk insurance in Kenya. Such a venture would ensure the critical mass is achieved for private sector insurance companies to invest and develop the market further, looking to compete and provide catastrophe insurance cover to other non-governmental organizations

Palabras clave

ALLIANCE, CATASTROPHIC RISKS, IMPACTS OF CLIMATE CHANGE, INCOME HOUSEHOLDS, EARLY WARNING SYSTEMS, RISKS, FINANCIAL SERVICES, PROFIT MARGINS, EARLY WARNING, RISK REDUCTIONS, RISK REDUCTION, FINANCIAL MANAGEMENT, FARMER, INCOME, LIFE INSURANCE, LAWS, GOVERNMENT SPENDING, PROGRAMS, INFORMATION, LIVESTOCK INSURANCE, INSURANCE INSTRUMENTS, PORTFOLIO, WELFARE, CREDIT COOPERATIVES, INSURANCE POLICIES, INSURANCE SOLUTIONS, MODELS, DISASTER, GOVERNMENT ASSETS, PUBLIC ASSETS, EMERGENCY ASSISTANCE, CASH TRANSFER, MARKET INFRASTRUCTURE, TREATIES, INTERNATIONAL BANK, DISASTER EVENTS, DEVELOPING COUNTRY, INSTRUMENTS, INSURANCE MARKET, MICROFINANCE INSTITUTIONS, BUDGET, CATASTROPHE INSURANCE, CROP INSURANCE, INTERNATIONAL FINANCE, REINSURERS, SAVINGS, TSUNAMI, NATURAL DISASTER, DISASTER RESPONSE, COSTS OF INSURANCE, INSURANCE MARKETS, INSURANCE PRODUCT, FLOODS, INSURANCE REGULATIONS, EARLY WARNING SYSTEM, EMERGENCIES, NATURAL DISASTERS, MARKETS, DISASTERS, INSURERS, AGRICULTURAL COMMODITY, EMERGENCY RESPONSE, FIRE, HUMANITARIAN ASSISTANCE, BANKING SECTORS, FARMERS, RESERVES, FAMINE, CASH TRANSFERS, FOOD AID, FINANCE, BROKER, PUBLIC INVESTMENT, BROKERS, BANKS, CLIMATE VARIABILITY, REINSURANCE, MORTALITY RISK, DROUGHTS, REGULATIONS, EMERGENCY, EARTHQUAKE, FOOD SECURITY, ECONOMIC COSTS, POLICIES, DISASTER RISK, CLIMATE CHANGE, DROUGHT, INSURANCE SCHEMES, INSURANCE COVER, INSURANCE PRODUCTS, MOBILE PHONE, DATABASE ON DISASTERS, BANK, LOCAL MARKET, DISASTER RISK FINANCING, AGRICULTURAL INSURANCE, CLIMATE, DEMAND, SAFETY NET, BAILOUTS, PROPERTY, BIDS, PROPERTIES, INSURANCE INDUSTRY, INSURANCE REGULATION, MICRO-INSURANCE, DISASTER MANAGEMENT, TRANSACTION COSTS, MARKET, WARNING SYSTEM, FLOOD, CREDIT GUARANTEE, REGULATION, SET ASIDE, POLICY, SOLVENCY, INSURANCE, MICROFINANCE, ECONOMIC DEVELOPMENT, GOODS, SECURITY, LANDSLIDE, INVESTMENT, RISK, HUMAN RESOURCES, INSURANCE PILOT, WARNING SYSTEMS, POVERTY, FINANCIAL MARKETS, ALLOCATION, SUPPLY, INSURANCE SECTOR, DISASTER RISK REDUCTION, CONTINGENCY PLANNING, EXTERNAL SHOCKS, REVENUE, MONEY MARKET, PROFIT, INVESTMENTS, RISK MANAGEMENT, LENDING, INSURANCE COMPANIES, FINANCIAL SECTOR, SAFETY, COVERAGE, INSURANCE PENETRATION, PRICES, GUARANTEE, BENEFITS, RISK ANALYSIS