Ethiopia: Delay in Digitisation Disrupts Third-Party Insurance Scheme

The sluggish digitisation process at the Insurance Fund Administration Agency has resulted in a scarcity of vehicle insurance policies against third-party risks. Insurance companies have now run out of stock and are not serving customers seeking to buy policy coverage for risks that occur to third parties by an insured individual.

Initially planned to be launched at the beginning of November, the digitisation project was aimed at enabling insurance companies to work on a web-based system while selling policies. The Agency decided to take the service online, hoping to manage data and information using a centralised system. During the digitisation process, the Agency significantly cut the number of stickers and corresponding certificates of insurance it issues to insurance companies.

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