Africa's insurers forge AI-driven future at InsurTech Forum Nairobi

Africa’s insurance industry leaders have called for urgent adoption of Artificial Intelligence (AI) and connected digital systems to cut costs, improve efficiency, and expand access to underserved customer segments.

Speaking at the InsurTech Forum Nairobi (ITFN) 2025, executives and regulators warned that outdated legacy systems continue to slow innovation and keep data in silos.

“Only one percent of insurance operations in Africa leverage AI capabilities today, but that figure is expected to grow to 80% within the next five years,” said Urvi Patel, Consulting Leader at Deloitte East Africa.

Moses G. Kuria, Group Chief Financial Officer at M-TIBA, noted that reliance on expensive and inefficient systems is the sector’s biggest challenge.

“The industry will greatly transform by leveraging connected end-to-end digital systems that improve efficiency, simplify products, and allow for more personalised, customer-friendly services,” he said.

Kuria added that the future of health insurance would be shaped by predictive analytics, member-centric solutions, and partnerships that shift the focus from reactive claims management to proactive health management.

The forum, themed “From Legacy to AI: Actionable Next Steps,” brought together more than 150 executives, regulators, board members, and innovators. It was convened in partnership with the Association of Kenya Insurers (AKI), the Insurance Institute of Kenya (IIK), and Caava Group, alongside partners including M-TIBA, Deloitte, NCBA Bancassurance, Old Mutual, and Redian Software.

Ayisi Makatiani, CEO of Caava Group and convener of ITFN, said the conversation on AI had moved from justification to execution.

“The dialogue around AI in insurance has moved from asking ‘why’ to focusing squarely on ‘how,’” he said. “ITFN 2025 is about equipping leaders with the tools, insights, and partnerships to move from theory to scaled, practical transformation.”

The event featured keynote addresses, panel discussions, and an AI Innovation Challenge where startups pitched solutions in underwriting, fraud prevention, claims processing, and customer engagement.

Patel said insurers must overcome low margins, slow growth, and legacy infrastructure through partnerships and ecosystem approaches.

“Partnerships and ecosystem approaches are critical to ensure African insurers remain competitive and relevant in the AI-driven future,” she said.