Scaling inclusive property insurance: Findings from market research in Kenya

Most insurers looking to serve emerging consumers focus their attention on tried and tested products such as life, hospital cash and funeral insurance. While the need is clear, inclusive property insurance is oftentimes overlooked. This is the case in Africa where, according to the 2021 Landscape of Microinsurance Study, a mere 0.09 million people have inclusive property insurance compared to inclusive health insurance (16.76 million) and funeral insurance (10.23 million). Inclusive property insurance is markedly absent for low-income renters, property owners and those who build their own homes incrementally over many years, thanks to various demand- and supply-side factors affecting the provision of insurance. Demand side barriers include affordability, product appeal and service quality, policyholder trust, cultural and social factors as well as behavioural biases. Another underserved and relevant market segment is micro-, small and medium-sized enterprises (MSMEs), which are the engines powering economic growth in emerging and low-income markets.

On 14 December 2022, SCBF, in collaboration with the ILO’s Social Finance Programme and Habitat for Humanity organised a webinar to unpack the relevance of and need for property insurance for boosting financial inclusion. The session brought together a diverse group of experts and two Kenya insurers presented their initial research into and experiences in serving emerging consumers with inclusive property insurance. Some of the key questions this webinar answered include:

  • Who are the emerging consumers benefiting from inclusive property insurance?
  • How can the opportunities presented by property insurance be leveraged for financial inclusion?
  • What lessons have Kenyan insurers gleaned from existing insurance with property insurance for emerging consumers?

Watch the recording


  • Sitara Merchant, CEO, SCBF
  • Lisa Morgan, Technical Specialist, ILO
  • Liza Maru, Head of Innovation – Emerging Consumers, Britam
  • Sushri Sarita Mohanty, ILO Impact Insurance Fellow hosted by Britam
  • Helene Osore, Head of Inclusive Insurance, Apollo Group

Discussant: Daniel Mhina, Associate Director Housing Finance – Africa, Habitat for Humanity International

Moderator: Daniel Rozas, Senior Microfinance Expert, European Microfinance Platform

Learn more about how SCBF is supporting Britam and APA to develop inclusive property insurance

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