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Kenya to host first digital insurance summit as Uganda gears up for mega blockchain conference

CryptoSavannah Director, Noah Baalesanvu noted The tech expo will provide inspiration for many people as well as an education platform on how technology is evolving and how it can impact businesses for greater growth. (PHOTO/File)

KAMPALA/NAIROBI – Kenya will host London based InsurTech conference coming to Africa for the first time this year

The July 2019, conference dubbed Africa 3.O is the first conference outside of London organized by MarketMinds. The event is in partnership with the UK government and will be held on 15 and 16 July, 2019.

The two-day event will provide the first platform for tech start-ups in the East African Region specifically in health, agriculture and frontier InsurTech to collaborate with incumbents to seek solutions for challenges facing the insurance sector.

The event themed ‘Sealing the Insurance Gap’ will also look at ways governments and regulators will enable insurance innovation in the region.

The move comes at a time when the insurance penetration in the continent continue to lag behind globally. The current insurance penetration in Africa stands at 3.5 percent with South Africa leading the continent with a penetration of 17 percent against a global average of 6.28 percent.

Kenya’s penetration is currently at a staggering 2.93 percent.

“We are very excited to be launching Africa 3.0 – a new insurance ecosystem – on July 15th and 16th in Nairobi with the UK Government. Africa, Kenya is a global leader in tech, we’ve got a world class line up and united purpose to seal the insurance gap – if you are in AgTech, HealthTech or InsurTech, this is the forum for you to partner with the leading insurance companies in the region,” said Sebastian De Zulueta Founder, Market Minds.

According to Insurance Outlook report 2018 by Delloite, the East African insurance market offers vast growth potential, although there are inefficiencies in the value chain that significantly affect shareholder returns. The reports add that insurers should consider financing and buying InsurTech start-ups for services that include mobile technology to reduce claim adjudication time, drones to improve claim and risk evaluation; interactive websites, making real-time digital sales, IoT technology (wearables; home, car, and commercial sensors) to improve pricing, underwriting, and claims management, among others.

The event is targeting over 200 tech start-ups and investors.

“East Africa Tech start-ups will have an opportunity to pitch for funding and partnership opportunities for their businesses during the conference. An ecosystem of new partnerships between the tech sector, insurance and broader financial services is critical to deliver the enormous growth opportunities that serve the needs of the consumer and engage tech entrepreneurs, incumbents and investors alike,” de Zulueta added.

Key Speakers at the conference include: Efosa Ojomo, Global Prosperity Lead at The Clayton Christensen Institute & co-auther of The Prosperity Paradox, Rehan Butt, Group Business Director Micro Ensure, Dr. Tom Herbstein Insurance Prosperity Specialist Department for International Trade, Zach Oloo Founder and CEO Changamka MicroInsurance, Fanie Hattingh Founder and CEO Health Solutions Africa, Michael Macharg Special Advisor, International Mobilization, Babylon Health & Adelaide Odhiambo Founder and CEO Blue Wave Insurance.

Africa 3.O is the first event by Market Minds in Africa after hosting over 30 major events in London for the last five years.

Between July 3 to 4, 2019, CryptoSavannah a local firm at the forefront of the blockchain and innovation ecosystem, and the Blockchain Association of Uganda, working in collaboration with the Ministry of ICT and National Guidance will host the 2nd edition of the Africa Blockchain Conference, at the Serena Conference Center in Kampala.

Themed “Africa 4.0: Preparing Africa for the 4th Industrial Revolution” will focus on what the 4th Industrial Revolution (4IR) is, what opportunities it presents, what threats it poses and what Africa must do to leverage 4IR for its development.

Alongside the conference, will run the “Africa 4.0 Tech Expo,” an experiential journey showcasing the leading technology innovations and applications in Africa.

Both the conference and Tech Expo are expected to host 3,000 people, comprising the public and private sector, experts and leaders from global technology companies, entrepreneurs, innovators, youth and government representatives.

Topics to be discussed include; Africa’s readiness for the 4th Industrial Revolution, Fintech, payment systems and digital financial services, the future of work and education, the SDGs and technology for impact.

The Fourth Industrial Revolution (4IR), also known as Industry 4.0, is a new chapter in human development that is enabled by extraordinary technology advances, and is fundamentally changing the way we live, work and relate to one another.

These technology advances including Artificial Intelligence, Blockchain, Big Data, Internet of Things (IoT), Drones and Robotics, among others are merging the physical, digital and biological spheres in ways that create both huge promise and potential peril.

The speed, breadth and depth of 4th Industrial Revolution is forcing us to rethink how countries develop, how organisations create value, and even what it means to be human.

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