The study surveyed 3,950 respondents aged 18 to 65, selected randomly from GeoPoll app users, between September 19 and September 24, 2025. The findings indicate that insurance adoption remains limited and heavily skewed towards a few dominant markets; in 2023, South Africa, Morocco, Egypt, and Kenya together accounted for nearly 85% of all insurance premiums on the continent. With an insurance penetration rate of approximately 3.5% (premiums as a share of GDP), there exists both a limited reach and significant untapped potential in the sector.

Awareness of Insurance Products

The survey findings highlight a strong awareness of insurance products among respondents. Over one-third (39%) reported being very familiar with various insurance products and providers, while another 32% indicated they were somewhat familiar. On the other hand, 15% had only heard of insurance products but lacked understanding of how they work, and another 15% admitted to having no familiarity at all. These results suggest that, while knowledge of insurance is relatively widespread, a considerable segment of the population has only a superficial understanding. This presents a valuable opportunity for insurance providers to enhance education and outreach efforts. Notably, 46% of respondents reported having purchased an insurance policy, while a slight majority (54%) had never held any insurance coverage, indicating a balanced division between those insured and uninsured.

Types of Insurance Policies Held

Among those with insurance, health insurance emerged as the most prevalent type, with 47% of respondents indicating they held such a policy. However, a significant portion (38%) of respondents reported having no insurance coverage, highlighting a considerable protection gap. Following health insurance, life insurance was held by 20% of respondents, while 16% reported having motor vehicle insurance. Smaller percentages had property or home insurance (8%) and agriculture-related policies (5%). The data underscore the critical role of health insurance in promoting financial security while also revealing a substantial opportunity to broaden the uptake of other insurance products.

The survey indicated clear trends in policy procurement across the six countries: Ghana (58%), Kenya (48%), Nigeria (38%), and Tanzania (54%) showed strong interest in health insurance. South Africa exhibited high levels of life insurance uptake (67%), alongside notable coverage in health (42%) and motor vehicle insurance (38%). Despite lower overall figures, Uganda still reported meaningful engagement with health (27%) and life insurance (17%). Motor vehicle insurance holds particular significance in South Africa (38%) and Tanzania (20%), with lesser proportions in other markets.

Factors Hindering Insurance Uptake

The main challenge to insurance adoption identified was high premiums, cited by 37% of respondents as the primary barrier to broader uptake. A further 24% attributed their hesitation to a lack of clear information or understanding about insurance products, reflecting conspicuous gaps in consumer awareness and education. Smaller segments of the population noted limited availability of relevant products (14%) and a perception that they do not need insurance (14%), while 12% referred to other factors. Overall, these findings indicate that cost and knowledge gaps are significant hurdles to expanding insurance coverage.

Trust in Insurance Companies

Respondents expressed a wide range of views regarding their confidence in insurance providers. The largest segment, 42%, reported having mixed feelings, expressing partial trust but also harbouring lingering doubts. Meanwhile, 23% expressed strong trust in these companies, while an equal share (23%) admitted to being cautious or skeptical. Additionally, 13% stated they do not trust insurance companies at all. These findings suggest that it is fragile, with skepticism and uncertainty shaping consumer perceptions of the industry.

In the face of unforeseen circumstances—such as accidents, natural disasters, or health crises—the absence or inadequacy of insurance coverage can lead to substantial financial losses, increased debt, or even bankruptcy. This lack of protection could jeopardize individuals' and businesses' ability to recover and rebuild, ultimately affecting their long-term financial stability and security. By effectively managing risks through insurance, individuals and businesses can navigate potentially devastating financial situations.