Making insurance accessible to low-income households and informal workers is the main focus of the 11th Regional Conference on Inclusive Insurance, which opened in Lomé on Wednesday.
The conference, running through Friday, brings together officials, insurers, banking representatives and technology experts from across Africa. It aims to identify practical solutions to develop products suited to low-income groups, who are often excluded from conventional social protection systems.
For insurers, the event offers an opportunity to build more resilient systems better adapted to African conditions, amid health crises, persistent insecurity and recurring economic shocks. The aim is to make insurance both accessible and affordable, particularly for people in rural areas and vulnerable communities.
Following the Lomé conference, insurers are expected to roll out new microinsurance products targeting low-income households. These are seen as a key tool with both social and economic benefits.
Inclusive insurance helps households cope with external shocks and supports financial inclusion by enabling access to services such as savings and credit, particularly through widely used mobile money platforms.
The conference also examined how inclusive insurance supports economic activity, especially in the informal and agricultural sectors, by strengthening resilience to risk.
The Lomé meeting is emerging as a key platform for expanding insurance coverage across all segments of the population. Togo has already moved in this direction, notably in the health sector, with the rollout of its Universal Health Insurance programme (AMU) since January 2024.
Esaïe Edoh