Enhancing ICT for Insurance in Africa

Review of Development Finance, Volume 9 Number 2, Dec 2019, p. 16 – 27.

20 Pages Posted: 13 Feb 2020 Last revised: 8 Mar 2020

See all articles by Simplice Asongu

Simplice Asongu

African Governance and Development Institute

Nicholas Odhiambo

University of South Africa - Department of Economics

Date Written: December 30, 2019

Abstract

This study assesses how enhancing information and communication technology (ICT) affects life insurance and non-life insurance in a panel of forty-eight African countries with data for the period 2004-2014. The adopted ICT dynamics are: mobile phone penetration, internet penetration and fixed broadband subscriptions. The empirical evidence is based on Generalized Method of Moments. The results show that enhancing mobile phone penetration and fixed broadband subscriptions has a positive net effect on life insurance consumption while enhancing fixed broadband subscriptions also has a positive net impact of on non-life insurance penetration.

Keywords: Insurance; Information technology

JEL Classification: I28; I30; L96; O16; O55

Suggested Citation

Asongu, Simplice and Odhiambo, Nicholas, Enhancing ICT for Insurance in Africa (December 30, 2019). Review of Development Finance, Volume 9 Number 2, Dec 2019, p. 16 – 27.. Available at SSRN: https://ssrn.com/abstract=3522373 or http://dx.doi.org/10.2139/ssrn.3522373

Simplice Asongu (Contact Author)

African Governance and Development Institute ( email )

P.O. Box 8413
Yaoundé, 8413
Cameroon

Nicholas Odhiambo

University of South Africa - Department of Economics ( email )

PO Box 392
Pretoria, 0003
South Africa

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