27/11/2018. Insurance provides a generally fiscal benefit that is released upon the rise happening of a risk. It is for the benefit of the insure who, in reelect, is obliged to pay a periodic contribution called the agio. If the notion of policy and its utility are no long discipline to debate in the professional world ( although… ), we are entitled to ask what is the situation among individuals : what kind of policy do they take out ? What are the obstacles to policy ? But what is its penetration rate among individuals ? indeed many questions that we will be able to answer thanks to our new field survey!

barely one-fifth of those surveyed are insure

In this newfangled sketch, we were able to interview 968 people we met in the streets of Antananarivo. In this sample distribution, lone 18% had insurance. fortunately, one is tempted to say, 83% of these policyholders find insurance generally useful ( 10 % have no opinion ). When asked afterwards about the indemnity companies they know, 90% cited MAMA, 81% Ny Havana and 74% Aro. Allianz is known by 13% of them and in stopping point seat is Saham which was mentioned by only 1% of the see persons. Unsurprisingly, the type of insurance most owned by the Tananarivians remains motorcycle/car insurance: 69%. This is followed by health policy (15%), life indemnity (9%), pension insurance (7%), and home insurance ( particularly fire ) which comes last (4%) .

Criteria for choosing an insurance company

What are the criteria used by policyholders to choose their indemnity ? The majority of them, 31%, admitted that their option was chiefly based on the recommendation of their acquaintances. Another 20% said they chose their insurance company on the footing of their seniority and experience, while another 20% said they chose an indemnity policy that, in their opinion, is surely to compensate them in the event of a claim. 16% then select their insurers for the cheap premiums they charge and 2% do so on the basis of the ( high ) measure of compensation in the narrow in the event of a claim. It should be noted that 9% mentioned versatile other reasons such as not having the luxury to choose ( obligation to take a particular insurance company ) and proximity .

The insurers with whom we underwrite the most

As the leading insurance company for individuals, the Mutuelle d’assurance malagasy (MAMA) collects the contracts of 51% of the insured persons we questioned. In second locate, we have Aro with whom 27% have taken out policies and, in third plaza, we have Ny Havana with 17%. 5% then chose Allianz and none of our interviewees are registered with Saham.

It should besides be noted that 23% of policyholders have already had a claim covered by their insurance. 63% of these claimants were subsequently compensated, while 12 % chose not to notify their insurers .

The collection of tariffs charged by insurance companies

When asked about their opinions on the prices charged by indemnity companies, it emerged that 52% of the policyholders questioned consider them affordable and that 18% even find them identical low-cost. then, 12% find them rather expensive, 2% find them expensive and 2% besides find them very expensive. MAMA is perceived as the cheapest insurance company : 89 % of its policyholders see it as “ Very low-cost ” to “ Somewhat low-cost ”. adjacent comes Ny Havana with 71 % and Aro with 69 %, Aro which 23 % visualize as preferably expensive .

Why don ’ metric ton we have indemnity today ?

We asked the 82 % of respondents who had no insurance about the reasons for this “ abstinence ”. 74% of them responded that they did not have policy simply because they did not need it. 16% then told us that it was besides complicated for them and 5% bluffly admitted that they didn ’ t even know about insurance until now. 2%, finally, do not take out insurance because they find it besides expensive .

capital Insurance Consumption Survey Concludes

indemnity products are not so far of concern to Tananarivians : not alone do alone 1 in 5 own one, but most, 69 %, alone take out fomite policy. fortunately, it besides shows that the insured are aware of the importance of insurance, as 83 % of them recognized that insurance is broadly utilitarian. Afterwards, when we see that 74% of those who are not insured anywhere say they do not need insurance, we tell ourselves that much remains to be done. The survey besides revealed that the myth of insurance that doesn’t pay is false. 63 % of the claimants surveyed were indeed compensated by their insurance companies. so people who think that we are precisely going to take money from them without getting anything in retort have not understood everything : there is a ( long ) procedure to follow and, if we are in our proper, we are compensated in the end!

Let us conclude with the general percept of the cost of cover, which is hush affordable for 52% of the insured and very low-cost for 18 % of them. This perception varies according to the company : ma is seen as the bum of all, followed by Ny Havana and Aro. last, I would say that it is true that Madagascar is a develop country and that the concerns are quite different. however, the fact remains that everyone must become aware of the importance of insurance in our daily lives. Let ’ s not forget : an accident can never be predicted !

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