Coral Gables, 10 March, 2025 – SL FINANCIAL is an actuarial consulting and advisory firm based in Miami, Florida. We offer actuarial consulting and advisory services for businesses and governments in both traditional (re)insurance and alternative risk financing industries.

The 49th edition of the FANAF (Fédération des Sociétés d’Assurances de Droit National Africaines) conference, presided over by Actuary Oussa Touré, marked a significant milestone for the African insurance industry. Recently elected to lead this prestigious institution, Touré’s appointment comes at a pivotal moment when the sector is undergoing rapid transformation, particularly in Francophone Africa. This evolution is notably driven by the growing prominence of the actuarial profession across the continent.

Held in Marrakech, Morocco, from February 22nd to 26th, the conference focused on sustainable and inclusive development in the African insurance sector. It brought together industry leaders, regulators, and experts to discuss critical challenges and opportunities shaping the future of insurance in Africa.

Key Insights from the Conference

Several critical themes emerged from the discussions, reflecting the evolving landscape of African insurance:

·       Bridging the Protection Gap: Challenges and Opportunities

Insurance and reinsurance are essential for closing Africa’s risk coverage gap. Expanding accessibility requires tailoring products to local economic conditions, raising awareness, and fostering financial education to mitigate distrust in insurance products. Public-private partnerships also play a crucial role in extending coverage and strengthening confidence in the sector.

·       Insurance’s Role in Economic Sustainability

Insurance contributes significantly to economic resilience by mitigating risks associated with natural disasters and health crises. Incorporating environmental, social, and governance (ESG) criteria into insurance investment practices is now a key priority to promote long-term sustainable development.

·       Innovations in Products and Services

The insurtech revolution is reshaping Africa’s insurance market with emerging solutions like microinsurance and parametric insurance. Technologies such as AI, big data, and blockchain are accelerating these innovations, allowing insurers to develop more efficient and accessible solutions tailored to local needs.

·       Inclusive Insurance: Expanding Coverage Through Innovation

Expanding insurance access requires a deep understanding of underserved populations’ specific needs. Lessons from past initiatives highlight the importance of customer-centered product design and effective distribution strategies. Leveraging digital innovation can help lower costs and increase accessibility, enhancing financial inclusion.

SL FINANCIAL’s Commitment to Industry Advancement

As a key player in actuarial consulting across Africa, SL FINANCIAL actively contributes to sustainable insurance development through:

·       Public-Private Risk Financing Partnerships – Collaborating with governments and insurers to design tailored risk-financing solutions.

·       Actuarial Education & Capacity Building – Supporting the professionalization of actuarial expertise to strengthen financial markets.

·       Data-Driven Solutions – Utilizing advanced analytics to develop insurance products that address sustainability challenges.

·       Parametric Insurance Development – Creating solutions with predefined payout triggers for rapid climate risk coverage.

·       AI & Big Data Integration – Enhancing risk assessment and personalized insurance offerings.

·  Incubating Qualified Actuaries – Training the next generation of actuarial professionals to drive sector growth.

With SL FINANCIAL as your partner, you can confidently navigate the evolving African insurance landscape. Our expertise in actuarial consulting, risk financing, and data-driven solutions ensures innovative and sustainable approaches to industry challenges. Let’s shape the future of insurance together.

For any question or media inquiry, please visit our website at www.sl-financial.com or contact our team at that ceo@sl-financial.com.

MEDIA CONTACT

Achille Sime

CEO

ceo@sl-financial.com