{"id":26119,"date":"2016-06-16T07:40:17","date_gmt":"2016-06-16T07:40:17","guid":{"rendered":"https:\/\/new.igihe.com\/insurance-companies-advised-on-performance\/"},"modified":"2016-06-17T11:27:40","modified_gmt":"2016-06-17T11:27:40","slug":"insurance-companies-advised-on-performance","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/insurance-companies-advised-on-performance\/","title":{"rendered":"Insurance companies advised on performance improvement"},"content":{"rendered":"

{The Prime Minister, Anastase Murekezi has advised insurance companies in Africa to be more innovative to meet clients\u2019 needs and support development programs in their respective countries. } <\/p>\n

He gave the advice yesterday as he officially opened the 36th summit of insurance companies in Africa.<\/p>\n

Statistics from the National Bank of Rwanda in 2014 indicated that insurance contributed 1.5% to Gross Domestic Product (GDP).<\/p>\n

Murekezi has requested insurance companies to address challenges causing poor performance of the sector. <\/p>\n

The 2016 research by Finscope in Rwanda indicates that only 9% of adults use insurance covers.<\/p>\n

Minister Murekezi has said that economic development must go with growth in insurance subscription to safeguard against risks and losses which, in turn, retard progress. <\/p>\n

\u201cAfricans need insurance support in case of illness, natural disasters, accidents and losses,\u201d he added.<\/p>\n

A high insurance premium is one of the major causes attributed to Rwandans\u2019 failure to subscribe with insurance companies. This is partly caused by lack of diversity in insurance companies. <\/p>\n

The Minister of Finance and Economic Planning (MINECOFIN), Ambassador Gatete Claver has said that it is time to mobilize citizens to join insurance companies since the adoption would help banks to get long term financing and provide loans at low interest rate.<\/p>\n

\u201cRwandans need to be mobilized to be insured and put shares of insurance companies on the capital market so that the money obtained from these activities can be used in other areas since the money needs to be kept for long,\u201d he said.<\/p>\n

The executive secretary of the association of insurance companies, Jean Pierre Majoro says that Rwanda has 13 insurance companies and the performance is still poor. \u201cThere is a need of collaborating between government, clients and insurance service providers to accelerate economic progress,\u201d he said.<\/p>\n

Mutuelle de sant\u00e9 in Rwanda is the most subscribed to medical insurance scheme at 81.9% of the total population. <\/p>\n

\"The<\/figure>\n","protected":false},"excerpt":{"rendered":"

{The Prime Minister, Anastase Murekezi has advised insurance companies in Africa to be more innovative to meet clients\u2019 needs and support development programs in their respective countries. } He gave the advice yesterday as he officially opened the 36th summit of insurance companies in Africa. Statistics from the National Bank of Rwanda in 2014 indicated […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[160],"hashtag":[],"class_list":["post-26119","post","type-post","status-publish","format-standard","hentry","category-news","tag-homenews","byline-theophile-niyitegeka"],"bylines":[{"id":160,"name":"Th\u00e9ophile Niyitegeka","slug":"theophile-niyitegeka","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":3}],"contributors":[{"id":160,"name":"Th\u00e9ophile Niyitegeka","slug":"theophile-niyitegeka","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":3}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/26119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=26119"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/26119\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=26119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=26119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=26119"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=26119"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=26119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}