Yesterday, Department for International Development (DfID) Country Head Julius Court spoke at the launch of the first ever Insurtech for Development conference aimed at promoting partnerships between technology and insurance companies across Africa focusing on health, agriculture and insurtech.
Insurtech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model. Insurtech is a combination of the words “insurance” and “technology,” inspired by the term fintech.
The event was hosted by the UK Department for International Trade (DIT) in collaboration with strategic partners.
Commenting on the conference, Her Majesty’s Trade Commissioner for Africa at the DIT, Emma Wade-Smith, said it “highlights the scale, ambition and commitment of UK as a catalyst to facilitate and encourage new partnerships across the continent.”