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Initial Market Assessment : Country Scoping Note--Kenya

ALLIANCE CATASTROPHIC RISKS IMPACTS OF CLIMATE CHANGE INCOME HOUSEHOLDS EARLY WARNING SYSTEMS RISKS FINANCIAL SERVICES PROFIT MARGINS EARLY WARNING RISK REDUCTIONS RISK REDUCTION FINANCIAL MANAGEMENT FARMER INCOME LIFE INSURANCE LAWS GOVERNMENT SPENDING PROGRAMS INFORMATION LIVESTOCK INSURANCE INSURANCE INSTRUMENTS PORTFOLIO WELFARE CREDIT COOPERATIVES INSURANCE POLICIES INSURANCE SOLUTIONS MODELS DISASTER GOVERNMENT ASSETS PUBLIC ASSETS EMERGENCY ASSISTANCE CASH TRANSFER MARKET INFRASTRUCTURE TREATIES INTERNATIONAL BANK DISASTER EVENTS DEVELOPING COUNTRY INSTRUMENTS INSURANCE MARKET MICROFINANCE INSTITUTIONS BUDGET CATASTROPHE INSURANCE CROP INSURANCE INTERNATIONAL FINANCE REINSURERS SAVINGS TSUNAMI NATURAL DISASTER DISASTER RESPONSE COSTS OF INSURANCE INSURANCE MARKETS INSURANCE PRODUCT FLOODS INSURANCE REGULATIONS EARLY WARNING SYSTEM EMERGENCIES NATURAL DISASTERS MARKETS DISASTERS INSURERS AGRICULTURAL COMMODITY EMERGENCY RESPONSE FIRE HUMANITARIAN ASSISTANCE BANKING SECTORS FARMERS RESERVES FAMINE CASH TRANSFERS FOOD AID FINANCE BROKER PUBLIC INVESTMENT BROKERS BANKS CLIMATE VARIABILITY REINSURANCE MORTALITY RISK DROUGHTS REGULATIONS EMERGENCY EARTHQUAKE FOOD SECURITY ECONOMIC COSTS POLICIES DISASTER RISK CLIMATE CHANGE DROUGHT INSURANCE SCHEMES INSURANCE COVER INSURANCE PRODUCTS MOBILE PHONE DATABASE ON DISASTERS BANK LOCAL MARKET DISASTER RISK FINANCING AGRICULTURAL INSURANCE CLIMATE DEMAND SAFETY NET BAILOUTS PROPERTY BIDS PROPERTIES INSURANCE INDUSTRY INSURANCE REGULATION MICRO-INSURANCE DISASTER MANAGEMENT TRANSACTION COSTS MARKET WARNING SYSTEM FLOOD CREDIT GUARANTEE REGULATION SET ASIDE POLICY SOLVENCY INSURANCE MICROFINANCE ECONOMIC DEVELOPMENT GOODS SECURITY LANDSLIDE INVESTMENT RISK HUMAN RESOURCES INSURANCE PILOT WARNING SYSTEMS POVERTY FINANCIAL MARKETS ALLOCATION SUPPLY INSURANCE SECTOR DISASTER RISK REDUCTION CONTINGENCY PLANNING EXTERNAL SHOCKS REVENUE MONEY MARKET PROFIT INVESTMENTS RISK MANAGEMENT LENDING INSURANCE COMPANIES FINANCIAL SECTOR SAFETY COVERAGE INSURANCE PENETRATION PRICES GUARANTEE BENEFITS RISK ANALYSIS
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Washington, DC
Africa | Kenya
2015-08-17T15:49:41Z | 2015-08-17T15:49:41Z | 2013-09-22

Kenya has well-established insurance and banking sectors, both of which have demonstrated high levels of capacity through strong profit margins over time. There is high insurance penetration (compared to neighboring countries), sufficient levels of reinsurance capacity and expertise in-country and a ground-breaking innovative mobile money market. Kenya represents an excellent opportunity to make targeted investments aimed at increasing disaster resilience among vulnerable population using market-mediated solutions. Links could be explored to integrate market-mediated insurance solutions into social safety net programs, such as the Hunger Safety Net Program. Coordination with broader Horn of Africa resilience efforts (such as those of the Global Alliance and Political Champions Group) could also be explored. A technical assistance program could be established by donors, looking to enable the government to develop mechanisms and establish frameworks to execute such mechanisms. Property catastrophe insurance markets could also be stimulated. Insuring key public assets (of a given level of building standard) against catastrophe risk would create a market for private sector organizations, as well as demonstrate the viability of property catastrophe risk insurance in Kenya. Such a venture would ensure the critical mass is achieved for private sector insurance companies to invest and develop the market further, looking to compete and provide catastrophe insurance cover to other non-governmental organizations

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