Medical insurance demand rises in Africa
More and more African countries are turning to medical insurance as their middle income bracket grows
|
With the growing middle class sector in Sub Saharan African countries, comes
an increase in the demand for improved medical facilities and services.
A leading research group, Frost and Sullivan has found that countries such as
Malawi, Tanzania and Kenya have an ever increasing level of awareness towards
medical insurance and the demand for this type of product is growing in
Africa as a whole.
An analyst for Frost and Sullivan said that this was supported further by the
introduction of national health insurance schemes in some countries such as
Ghana and Tanzania.
"The NHIS in Ghana, for instance, currently covers approximately 8.3 million
people, more than double the number of people who were on the scheme in 2005,"
said the analyst.
Medical insurance is more affordable in Africa with the growth of middle
income bracket. In addition, a growing number of foreign companies turn to
private medical insurance companies to offer their employees and family members
policies.
To bring more of the general population onto medical insurance schemes
requires innovation and forethought, however. National insurance schemes could
be expanded, for example, leading to a greater demand for IT companies to step
into the market and provide their services.
"The main opportunities presented in this industry include the installation
and management of IT support systems linking current medical insurers and health
facilities," said the report. "Low cost medical insurance schemes, foreign based
medical services as well as private rural health facilities are other sectors
that offer potential for revenue generation."
Email
Print
