As multinational corporations scale their presence across multiple markets on the continent and their operational needs, particularly around risk management and insurance, are becoming more complex and demanding.
Ms Diana Gochohi, head of Corporates at Old Mutual Life Assurance Kenya, said this in an article she wrote for the business website Sokodirectory.com.
Multinational businesses require solutions that match their scale, complexity, and operational footprint. Given Africa’s diversity, comprising 54 countries with distinct regulatory regimes and varying local requirements, compliance becomes an arduous undertaking, she stated.
Ms Gochohi said that one of the most strategic solutions gaining traction is insurance pooling, a model that addresses the complexities faced by insurers by centralising risk management and streamlining compliance across varied jurisdictions.
This model allows companies operating in multiple countries to combine all their insurance needs under one centrally managed structure. For example, rather than purchasing separate policies in Kenya, Uganda, and Rwanda, a multinational can operate under one master policy with locally compliant components in each market.
“As Africa’s economic integration deepens with initiatives like the African Continental Free Trade Area, the need for seamless insurance solutions will only grow. Pooling is not just a response to complexity, but a strategic enabler for sustainable growth on the continent,” she wrote.
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